Franchising is about…ethical business practices

Ethical Business Practices

In franchising there are always unscrupulous entrepreneurs who, under the guise of franchising, will make empty promises and sell unethical businesses to unsuspecting business operators.

One of the first questions you need to ask is…

“Is the franchise I am considering joining accredited by the Franchise Association of South Africa? And if not – why not?”

  • FASA members voluntarily align themselves and their brands to an internationally recognized body that adheres not only to international best practices but to sound business ethics established through the Consumer Protection Act and FASA’s government approved Franchise Industry Code and possible Ombudsman for the sector.
  • The fact that a franchisor that is a FASA member voluntarily opens himself, his company and his operations to scrutiny shows his commitment to running his operation ethically and along sound business principles.
  • FASA members are viewed as credible operators and quality companies within the franchise community and more likely to be accredited by the major banks and lending institutions.

Read More

The franchisor response phases – the franchisees perspective

franchisor-franchisee

We often talk about the life cycle of franchisees, starting from the franchisee being in the stage where they are the euphoric first time to becoming a rebellious teen, to finally maturing into an established, and stable franchisee. We have been told how to optimally manage the franchisees through these changes and that it all begins with managing the expectations of the fledgling incoming franchisee. However, the lifecycle of a franchisors has, for the most part, been ignored- leaving franchisors exposed to unanticipated challenges.

Read More

Franchise opportunities across different sectors

franchise-sectors

Because franchising can be adapted to almost any business sector, the range of franchise opportunities is extensive. A lot depends on whether the offer is a turn-key operation with retail outlets or a man-in-a-van service franchise or a franchise that can be run from home. The return on investment is often linked to the cost of the franchise; a hot-dog trailer may be affordable but the returns are not as high as a high-end restaurant which will cost in the millions to set up and has the potential for high turnovers – so prospective franchisees must always bear this in mind.

Read More

The World in 2022 – Five essential flags to watch

5-flags-scenarios

Reflecting on the world in 2022, the Archbishop of Canterbury Justin Welby had this to say in his 2021 Christmas sermon: “We all face uncertainty, uncontrollability and unpredictability, from huge companies to those sleeping rough.” That is one of the principal themes of the book Thinking the Future, by renowned scenario planner Clem Sunter, co-authored by Mitch Ilbury and myself and published by Penguin Random House in July last year.

Read More

Planning for a successful 2022

According to Roz Sandham of franchise consultancy Franchising Plus, “with the unpredictability of the future and the undeniable change in the way we work, counter intuitively planning becomes even more important for the survival of businesses.”

“Previously we had historical trends on which to base our future plans, for most businesses these trends have been turned on their heads. Leadership needs to be brave and reasonable when setting goals and objectives for the next period of trade. Make sure that you are reading as much as possible about what the future may hold. Also, engage with all the stakeholders in your business as they can often add value to the process.”

Read More

Franchises across all sectors dig deep to survive

franchise-sectors-web

One has to ask how businesses, entrepreneurs and investors in South Africa have any confidence in a future when confronted with constant rolling blackouts, another looming fourth wave of coronavirus infections with little to no support from the government.

Well, If you are a franchise in any of the fourteen business sectors, you pick yourself up, dust yourself off and dig deep to survive.

That was the overwhelming sentiment following the Franchise Association of South Africa’s key franchise conference in August that took a hard look at how Covid-19 affected the franchise sector and outlined steps to not only regain lost ground but proposed forward-thinking plans to revive and re-energize the sector through entrepreneurial initiatives.

Read More

Business success – the franchise way

Everyone dreams of owning their own business, writing their own salary cheque and being successful. But in reality, only a small proportion of people realise that dream as the barriers to setting up a business are often quite daunting, the costs often prohibitive and the expertise needed to make the business work often lacking. Where franchising comes into its own is in the fact that it gives all the advantages of operating your own business, but without many of the headaches that go with setting up a new business, researching it, finding the suppliers, marketing it and managing it. In a franchise business, you have the opportunity to think big without taking as big a risk as you would if you were venturing out on your own.

Read More