Sure-fire way to lose your money

losing-money

South Africa is stuck in the longest business cycle slump since 1945 (Bloomberg 27 June 2019) – what a frightening headline..! Times are indeed tough and much more difficult than most of us realise. Job losses are every day news and since the beginning of this year alone Dunkin Donuts & Basking Robbins’ closure resulted in 120 retrenchments, Standard Bank announced 1200 retrenchments, Absa 827 retrenchments, Sibanya-Stilwater 3450 retrenchments, MultiChoice 2000 retrenchments and Tongaat Hulett 5000 retrenchments with many other big corporates not even disclosing job losses i.e. Group Five, PPC Cements and Tiso Black Star Group. Some people who have been retrenched look towards getting into their own business and franchising immediately comes up.

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I could literally imagine myself dying!

dying

Those are the words by Lungile Qwabe when she attended a seminar presented by Herman Bezuidenhout of BeztForex on the topic of sales strategy at the 2019 KZN Franchise Expo, organised by FASA and in partnership with Ithala.

This was Lungile’s takeaway: “If you are not growing, you are dying.”

As Herman said these words Lungile imagined herself dying! For the last few years she had felt she was too busy being busy, and had actually allowed herself to stagnate – she was definitely not growing! And as of that moment, she was no longer going to accept the concept of dying.

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Unsuspecting buyers risking their hard earned money in new franchise concepts raises red flag

franchisees-risking

The rapid growth of new franchise concepts right across the 14 different business sectors in the franchise industry, is of huge concern as unsuspecting franchisees seem eager to invest in these concepts without seemingly having done a thorough due diligence on the sustainability of the concept.

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The Franchisee’s challenge and responsibility owning a franchise outlet

aspiring franchisee

Franchising has been around since the 1920’s – but the joy of a franchise to a young entrepreneur today is that no matter how replicated a business may be, it is always fresh to the new owner. It comes kitted with all the essentials: a logo, a colour design, a value system, a primed product, a marketing profile, a ready-made customer base, an infrastructure that has already been nipped and tucked into shape.

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