With just over 12% of business activity going through the franchise route at present compared to over 50% in the US, the potential for increased franchise growth remains high and shows like IFE are the ideal platform for prospective franchisees to find out more about this business format.
With the business format of franchising so successful throughout the world, many existing business entrepreneurs should be asking themselves - is my business franchiseable? The business format of franchising offers exciting opportunities as a distribution mechanism. It can be a means of vertical integration that combines a high degree of control with a low degree of risk. It is also closer to the consumer level through its franchisees and this aids the anticipation of trends in the consumer market. The opportunity also exists to franchise current operations, or to expand the concept further through franchising instead of establishing branches.
Says Thulani Cele, chair of Franchise Association of South Africa (FASA), “Franchising in South Africa is not given enough credit for the role it plays in the economy, in stimulating entrepreneurship, in establishing small businesses that make up the backbone of the economy and above all in providing the close to 500 000 jobs across the sector. FASA would like to see government give more attention to the positive role that franchising can play in stimulating the small business sector and urges big business to look at the potential of using the franchise format as an alternate expansion mechanism.”
A Speakers' Corner, sponsored by Standard Bank, will host key speakers on a wide range of subjects pertinent to business success, franchising and funding. A one-day Franchise Convention, on Friday 7 May, will look at the state of the economy, analyse consumer trends and discuss the challenges facing the sector in the years to come.
Bookings for the FASA Franchise Convention can be made through Giuli Osso on +27 (0) 11 802 1611 or email .
