We hope you had a good break, and we wish you a very Happy and Successful 2007! Talking about New Year resolutions — have you formulated the one that's right for you, and, more importantly, are you still on track? Remember, we suggested one, “During 2007, I am going to throw off the shackles of employment and start my own business!” Did you adopt it? If so, now is the time to act on this resolution. If you leave it for another day, the year will be out before you know it and nothing will have changed in your life.
This does not mean that you should rush into anything. We know that entering the world of entrepreneurship is scary but don't worry — you are not alone in your quest. By going the franchise route, you “will be in business for yourself but not by yourself.” And we will be on your side all the way, by giving you guidelines you can actually use.
Wanting to start a business is one thing, actually getting there is quite another. The surest way towards making the transition successfully is to do your own personal SWOT analysis first. In case you are unfamiliar with this term, SWOT stands for Strengths, Weaknesses, Opportunities and Threats. This tool is frequently used to plot the future of a business, but there is no reason why you can't use it to plot your own future. Read more…
Let's say that after you have done your homework, you remain convinced that becoming a franchisee is the way to go. You have honed in on a specific franchise opportunity that really appeals to you. So, what's the next step?
You will have to do some talking. This is inevitable because every franchisor worth his salt will want to know who you are and what you are willing to contribute to the growth of the brand. Most importantly, the franchisor will want to be sure that you fit in with the team. This team being the people in the franchisee support infrastructure, the network's suppliers and other franchisees. Read more…
We were stung by a comment we overheard someone making the other day to the effect that franchising is un-African. We consider this remark to be mischievous. Given the high degree of brand recognition, skills transfer and ongoing support, franchising holds the key to unlocking the door to entrepreneurship for many South Africans who otherwise wouldn't stand a chance. It also has the potential to cure many of South Africa 's social ills. Besides, franchising has more in common with ubuntu than you may think, as the quote below illustrates. Read more…
Reports received from the US , UK and Germany suggest that increasingly, over-50s are turning to entrepreneurship with a safety net by becoming franchisees. The reasons for this are obvious: downsizing, mergers and other corporate activities cause many experienced people to lose their jobs at an age when they will find it extremely difficult to secure alternative employment. Read more…
Leading franchisors the world over have one thing in common: they are forever looking for ways to improve operations, increase market share and put more money in their franchisees' pockets. Chicken franchises are no exception, as the following examples show. Read more…
Q: I am disabled, wheelchair-bound, have R100 000 cash to invest and would very much like to operate a franchise in the fast food sector. Would Khula fund the rest of the investment?
A: Most fast food operations are capital-intensive, requiring an investment of R800 000 plus. Loans are available but most franchisors insist that their franchisees are able to contribute between 35-50% of the total. There are sound reasons for this: Read more…
The website www.whichfranchise.co.za contains information on how franchising works; it also contains South Africa 's foremost listing of bona fide franchise opportunities. To make it easy for you to find what you are looking for, we have set up the site in such a way that you can search for opportunities by business sector and investment level.
Should you have specific questions that relate to the concept of franchising rather than a specific franchise opportunity, send an email to experts@whichfranchise.co.za . Our panel of experts will provide an answer, usually within 24 hours. This is a free service that places you under no obligation whatsoever.
Copyright ©whichfranchise.co.za 2006. All Rights Reserved. whichfranchise - a complete franchising resource offering information and opportunities for prospective franchisees and franchisors in South Africa.
About whichfranchise | Contact whichfranchise | Terms of Use