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Growing your business

Eric Parker - Franchising Plus

Back to basics

”A business has to be involving, it has to be fun and it has to exercise your creative instinct” – Richard Branson

Nedbank hosted a power breakfast and network opportunity where our franchising specialist Eric Parker provided insight into growing your business by going back to the basics.

Is your franchise opportunity competitive?

Anita du Toit - Franchising Plus

By Anita du Toit

South Africa is in the midst of challenging economic times with rising costs, power outages and the influence of global conditions such as the rising oil price. It takes a lot of courage to start a business in this environment and franchisors can expect potential franchisees to be much more discerning. We always tell clients that franchising a business means that your core business changes to franchising and that you will now compete with other franchises for potential franchisees. We have identified five aspects that will determine whether your franchise will be competitive.

Are you recruiting franchisees effectively?

Anita du Toit - Franchising Plus

By Anita du Toit

FASA hosted the annual International Franchise Expo recently and franchisee recruitment is top of mind for most franchisors at this time of year. When consulting to franchises, we often find that franchisee recruitment happens on an ad-hoc or unfocused basis.

Here are some pointers to streamline your recruitment process:

The people make the place

Sasha-Lee de Bod

By Sasha-Lee de Bod

“You can design and create, and build the most wonderful place in the world. But it takes people to make the dream a reality” – Walt Disney

 

The importance of the brand

Franchise image and brand management has become increasingly important and is a valuable resource to any franchise in terms of differentiation. Customers’ perceptions, patronage behaviour and loyalty are influenced by branding. Various tangible and intangible attributes influence the overall image as perceived by customers.

Testing for franchisee success

Franchising Plus E-Test

It’s often difficult to find an employee to fill a position, but if it doesn’t work out you can replace the person. With a business partner or franchise, a bad selection is much more difficult to unwind. That’s why many leading franchisors rely heavily on psychometric testing to give them an edge in franchisee selection.