Try franchising as your way to get into business world
ONE of the most effective and easily accessible ways of starting an independent business is to buy into a franchise chain,” says Peter Schwandt, area manager for Business Partners.
“Business model franchising offers the benefit of the franchise organisation‘s established brand name, formal marketing programme, financial systems, work processes, centralised buying, staff training and HR guidelines.”
Business Partners has over 25 years‘ experience in catering to the needs of entrepreneurs and has some valuable tips to offer those considering the franchising route:
Decide on the best franchise option for you.
For many people, the word “franchise” conjures up the image of a fast food outlet. The truth is that, while fast food franchisors pioneered the concept, there is now a wide range of franchising options to choose from.
Opportunities exist in sectors as diverse as retailing, education, entertainment, auto products and services, health services and real estate.
When researching franchising options, a very useful site to visit is that of Franchise Inc of South Africa, which can be accessed on http://southafrica.franchiseopportunities.com
The site gives a comprehensive list of the sectors in which franchising opportunities exist and also provides access to details about current franchising opportunities in the country.Another good site to visit is that of the Franchise Advice and Information Network (Frain), an initiative of the department of trade and industry, which can be accessed on www.frain.co.za
The Frain site offers a great deal of information about how franchising works and on how to select and evaluate a franchise. It also has an excellent section on frequently asked questions (FAQs) and provides access to the Franchise Survey of 2004, which provides in-depth information on the franchising industry.
Above all, when researching your choice of franchise, remember that you‘ll be spending a lot of time in your business, especially during the start-up phase, so it‘s important to choose a franchising concept or a sector that you‘ll enjoy.
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