THE current economic climate in South Africa suggests that this is the perfect time to start or expand a small or medium enterprise.
The country’s growth rate is set to reach 4% in 2005 and the Reserve Bank is confident it will meet its inflation target this year.
All of this means that consumers will have more money in their pockets and will be able to spend more on extras and luxury items.
One of the most effective and easily accessible ways of starting an independent business is to buy into a franchise chain.
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.
Even so, many potential entrepreneurs interested in the franchising option are concerned about two things in particular: the range of franchising options available to them and the process to follow to obtain investment financing and set up the franchise.
Business Partners has nearly 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 and nothing more.
Although fast food franchisers pioneered the concept, there is now a wide range of options to choose from, including retailing, education, entertainment, auto products and services, health services, and real estate, among many others.
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.
Business Opportunities Weblog | Franchises an Effective Way to Enter Business World on May 1st, 2006 at 11:18 pm
[...] Franchise Blog: One of the most effective and easily accessible ways of starting an independent business is to buy into a franchise chain. [...]
Mousee on May 13th, 2006 at 3:25 am
Thanks for the article but I doubting if there is the well-developed legislation in African countries to start-up a franchise….
For example, I’ve studied the countries of the former Soviet Union and found that after the 15 years not all of then have developed such laws… Russia has and they develop this sphere but at the same time you can operate as a franchise in Belarus….
And without good laws I would never start a business there (I mean Africa). Do you know anything about it?
Best regards,
Mousee (http://franchise.viaden.com/)
Mark on May 19th, 2006 at 5:07 pm
Hi Mousee Africa is a land of corruption atleast it was when i was on the continent.
which can be an advatage if used correctly anyway i have just posted about a new south african franchise website that might give you the knowlege you seek. http://www.whichfranchise.co.za.
Regards
Mark