Future trends that will impact the franchise industry

Romany Thresher, from Fasa, chats to the CEO Paul Stevens about future trends that will impact the franchise industry both locally and internationally.  Just Property differs from your average, run of the mill, Estate Agent and how they have evolved and re-branded themselves to offer a one stop, one shop property solution. Property management and administration is the backbone of their franchise model.

With their re-brand, they now specialise in residential, commercial and industrial property rentals, sales and investment, with 113 Franchises in 83 locations, countrywide.

What trends are you seeing both locally and internationally that you think will have an impact on franchising in 2021 and beyond?

If one looks at big corporations like Amazon, Mr. Delivery, Uber Eats etc., we can see a common thread internationally that business is moving to the online shopping world. Many retail outlets are closing their doors as shopping moves online. Many companies and even private individuals are coming on board. We’ve even seen talks of drones delivering parcels. It’s like a sci-fi movie becoming a reality.

What threats and opportunities in the franchising model do you see and how do you think they need to be responded to?

Every business always faces threats and opportunities so it’s vital to look at where your particular sector is moving to. It’s all about consolidation and creating efficiency in your business. The economy is the biggest worldwide threat. We are in a recession and we are going to have to learn to tighten our belts to survive. However, South Africans have always been resilient and those who make it through this, by adapting and changing, will be those that will survive. We also face a weak political climate and many people are very negative and not investing in new businesses. What they fail to see is that there are tremendous opportunities out there. In every downturn there are many opportunities.

Franchisees usually opt to join a brand because it offers a “business in a box” – how do you leverage the strength of the franchise ways of working but still give entrepreneurs the space to apply their own strengths both within their immediate businesses and across the franchise network?

Franchising is a proven model and offer a solid business model that will carry you through. To a certain extent it is a ‘Business in a Box” but that is not always the case. For example, Fast Food are a business in a box with everything you need to start your franchise, from the burger patties to the clothing worn by staff. On the other side we have the service industry which allows flexibility. We need true entrepreneurs in our sector. In every business, what you put in is what you get out. It’s really up to you to make a success of it. A Franchise will give you the model and if you follow the principles of that model, you will succeed. In every service industry you work with people. The core of the business is management and you have to focus your whole business on being people centric.

If you’re passionate about people and property, Just Property offers a Full Franchise that you independently own and manage.

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Just Property