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FASA’S 2024 Franchise Manual showcases the power of franchising

FASA’S 2024 Franchise Manual showcases the power of franchising

The 2024 Franchise Manual, the official annual directory for the Franchise Association of South Africa (FASA) is now on sale – either as a glossy 208-page print version or as a downloadable attachment – and serves as both an information and buying guide to owning your own business.

This year’s manual not only features all FASA’s members and their profiles but also dissects the two franchise surveys that were conducted in 2023 – one on the state of franchising, the other a satisfaction survey of its franchisees. If you are considering going into business but are wary given the hardships businesses faced over the past four years, take a look at the franchise survey results that show a sector that is resilient and determined to overcome all the challenges that lie ahead.

In addition, the FASA manual has an easy to refer to A-Z of Franchising that covers all aspects of this business format – from understanding what makes up a franchise to giving you guidelines to choosing a franchise, finding the funds to franchise, evaluating the opportunities, understanding the legal implications and tips on running a successful business.

Published on an annual basis, the FASA Franchise manual lists all members that have voluntarily joined FASA and made a commitment to ethical franchising.

  •  It serves as a communication platform to educate the public on the successful format of franchising and serves as an advertising channel for those connected to the sector – from the franchisors with the established and new brands to the related service providers and suppliers who wish to market their services to all those related to this important sector.
  • For prospective franchisees, the Directory serves as a shopping guide, allowing the prospective buyer to peruse the various sectors on offer and the opportunity to compare companies – their history, their profiles, their size and in most cases the financial requirements.
  • Entrepreneurs who have a business concept that they may want to franchise will find the book useful in seeing the range of sectors that do franchise, be able to compare set-up costs and find articles that clearly outline the responsibilities that franchisors undertake to ensure a successful franchise.

Franchise Opportunities across different sectors

Because franchising can be adapted to almost any business sector, the range of 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.

FASA’s member base cuts across over twelve sectors – ranging from restaurants, retail to real estate; from automotive to building services; from business-to-business to personal & professional services; from education & training to beauty & health services. Building a franchise brand and growing the franchisee base is at the heart of franchise success. The franchising model has revolutionised the business environment allowing for both entrepreneurs to establish and expand a concept whilst giving franchisees buying into the system a safe and established framework in which to operate.

No concept is beyond failure, markets change over time and the relevance of a concept within a market could also change. Making sure that the concept works for everyone – from the consumer to the franchisee to the franchisor – is fundamental to its success.

The old adage often touted about franchising being the way ‘to be your own boss’ or ‘control your destiny’ is true though a touch misguided. Franchising is based on conformity and uniformity, not freedom. As a franchisee, you do not really hold the reins. You may technically be the boss of your shop, but you must follow the orders of the home office.

Because investing in a franchise is a significant long-term commitment, prospective franchisees need to examine all the relevant aspects, including their own attitude, aptitude and willingness to work extremely hard before they sign a franchise agreement.

If you are interested in buying into a franchise concept or have plans to start your own franchise, we strongly suggest you purchase the FASA Franchise Manual, in either print or e-book format which will take you on a journey of understanding how franchising works and gives you a roadmap to evaluating what could be the greatest decision of your life – to invest in a franchise!

Get your copy of the 2024 Franchise Manual

 

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