5 Absolutes for Franchising Your Business in South Africa:
If you have a small, medium or large business in South Africa, or beyond that can be easily replicated, then franchising your business in South Africa, may be one of the best ways to expand and scale it at a rapid pace and if you go about the franchise integration process the right way, it can certainly pump up your profitability. Here are the absolute musts that have to be in place before you can franchise your business:
Think through your entire business process and model before you decide to go about franchising. Great businesses are systematised. This makes the entire roll-out of the necessary franchising models much easier form both franchisors and franchisees. As a franchisor, your franchisees are going to need a lot of assistance in getting their franchises setup and operating, that’s where Franchise Assist comes in. It will save you as s franchised brand owner many headaches to have absolute clarity on your business systems and processes.
2) PROTECT YOUR FRANCHISE
Your franchise and how the market relates to it, is your most valuable asset. Your franchise represents your customer ethos, your culture and your beliefs. When you go franchising you allow someone else to represent your business or brand. Clear guidelines must be established in terms of standards for your franchise. The devil is in the details. Oversee all activites each franchisor is doing on a consistent basis. Decide what sector you want to your franchise to be represented in.
3) GET THE EXPERTS ON BOARD
Spend a bit of money and hire a franchising consultant and a franchise attorney. Getting the correct franchising advice in South Africa and understanding the franchising laws that apply is crucial during the franchising process.
4) SELECT THE RIGHT LOCATIONS
Keep your first few franchised locations close to home. You don’t want all your income from the franchise royalty and service fees used up when you visit your franchisees. Consider implementing a Geographical Information System pertinent to your country as this will assist in selecting locations for a franchise. This is more likely to ensure your franchising success.
5) SELECT THE RIGHT FRANCHISEES
We always say choosing the right franchisee is like choosing your spouse so…be selective. Use psychometric tests when deciding on franchisees for your business. Whatever skill your team does not have must be an element you look for in your future franchisees. This is especially true for a young franchisor. You’ll need some extensive face time with your franchisees ensuring that they are able to operate their given franchises effectively. Young franchise owners require loads of assistance and will have many questions. The real work for a franchisor when franchising their business is in the support he offers his franchisees. Remember that franchisees are just humans who also want to be acknowledged and respected.
Has franchising your business crossed your mind?