Franchising gives ambitious aspirant entrepreneurs and international investors an opportunity to invest in their own business with the guidance and support of a successful business enterprise.
South African soil is ripe for franchisees, according to the Franchise Association of South Africa’s chairman, Tony da Fonseca. “The sector already contributes 13,3% to the country’s GDP, generating an estimated R721 billion through its 845 franchise systems, 40 528 franchisees and employing 343 319 people.”
Despite the current tough economic climate in South Africa, buying into a local franchise still presents a lower risk of failure or loss of investment than starting your own business from scratch. But how do you get started? Read on.
SA’s economic growth must come from private enterprise and the SME sector and franchising is the ideal vehicle to grow the small business sector.
The biggest benefit of becoming a South African franchisee is that securing finance for a franchise business opportunity is easier than financing an independent business. This is because most commercial banks are specialised in and familiar with the franchising industry, allocating dedicated products and services to franchise owners.
