FASA is appealing to all franchisors and franchisees out there to participate in this year’s Franchise Survey sponsored by Sanlam which examines this important industry that to date contributes a healthy R721 billion equivalent to 15,7% to the country’s GDP. Given the socio-economic and political influences, will that figure drop or grow and what other factors make up an industry that continues to be a major player in South Africa’s economy? If you are a franchisor or a franchisee you have to be part of this definitive survey that tracks and celebrates one of the strongest business arms of the economy.
Now in its sixth year, this definitive survey has shown relevant areas of growth via survey questions aimed at defining key indicators, critical operational measures and satisfaction levels of both franchisors and franchisees. The results provide insights into the performance and revenue generation of franchise concepts in different sectors – benchmarking the demographic factors that make up a good franchise and tracking its contribution to entrepreneurship, small business development and job creation.
Taking part in the FASA Franchise Surveys is crucial to benchmarking the success of this important industry sector. By participating in the survey allowing the public insight into what makes franchising successful, every franchise company can be proud to be a cog in the wheel of the phenomenal success that is franchising – a major contributor to the well-being of our country.
“Many franchisors who participate in the FASA survey use the resulting benchmarking in various areas to create an incentive to improve.” Says Vera Valasis, Executive Director of FASA, “seeing the trends in areas such as expansion and relocation, rebranding or the break-even average across the sample, can give franchisors insights into how they need to tackle such issues going forward.”
The survey – besides measuring the industry on the number of concepts and outlets and their growth and approximate turnovers in the various sectors – also tracks the life cycle status of brands, at what business stage they are in and how many outlets were opened and closed in the survey period. A survey on store location, rentals and supply chains alerts to any changes in the trading landscape whilst surveying the challenges facing franchisors and franchisees helps to identify any areas of concern.
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