What can we do to recruit franchisees is a question the Association is asked daily. What do you do when you’ve done all the right marketing but still not getting buyers to sign on the dotted line? You continue with your marketing efforts while at the same time taking a step back to evaluate everything in your business.
In general anyone wanting to finance a business has three basic options:
While most small businesses startup with money from friends and family, there are still a large number who rely on banks for financing. Commercial banks and financing institutions recognise the lower risk profile of franchising and recognise that most reputable franchisors have tested and fine-tuned their businesses before franchising. Many franchisors have financing agreements set up with selected financial sources to facilitate rapid funding of their franchisees. This is an advantage but that doesn’t mean you automatically get accepted. You still have to submit the necessary documentation and meet the criteria set out by both the franchisor and the financial institution. Read More
Franchising has come to a crossroad as it looks back at the last year of upheaval and prepares for future recovery. The board of the Franchise Association of South Africa (FASA) is calling on its members, its stakeholders and the public to join them in this key conference that will serve to review and reboot the sector. The team of directors who make up the FASA executive, under the chairmanship of Pertunia Sibanyoni, CEO of InspectaCar invite all those in the franchising space to join them on the 25th and 26th August for this crucial virtual conference. Read More
With the franchising sector contributing close to 13.9% to the country’s GDP and employing close to a million people, according to a FASA 2019 survey, at its heart, franchising is all about the spirit of entrepreneurship. The last year has created immeasurable hardship for small and medium-sized franchise businesses, but many in the sector have adapted the way in which they train and communicate to keep business going. Read More
The board and members of the Franchise Association of South Africa (FASA) extend their deepest condolences to the family and colleagues of Pierre Van Tonder on his passing. His contribution to franchising as CEO of the Spur Group for 24 years and to the franchise association and the broader franchise community was extensive and he will be missed and fondly remembered.
As the leading franchise association on the African continent, the Franchise Association of South Africa (FASA) and Absa is staging its virtual recovery business network and educational conference for franchise owners, franchisees, start-ups, entrepreneurs, potential franchises and the public. Assisting with international speakers and mediating will be Elana Koral of Franchise Coaches and Sean Goldsmith of Groe Global.
As the coronavirus pandemic continues to create uncertainty with our lives and livelihoods, more consumers are choosing to purchase pre-owned vehicles rather than new in order to save money under a shaky economy, rising household expenses and unstable work environments.
During lockdown level 5 and 4, H2O | BWT was listed as an essential service which permitted franchisees to stay open supplying much-needed drinking water. But like most businesses, sales figures took strain due to lockdown regulations resulting in decreased foot traffic. On a positive note, the brand worked hard to increase awareness around the importance of good water quality, stimulating demand in the Home and Office sector. Focus was placed on the online store as well as a more innovative approach to their loyal water customers, from advice all the way through to home deliveries. The company ensured that they could be of service to their consumers while they remained safely at home.