Tip Box: Advantages of franchising in South Africa
Owning a business in South Africa is different to owning a business in a different part of the world. South Africa comes with its own set of in intricacies, and owning a business requires someone that is committed. “Every country has a set of rules that governs how to do business. That, along with the country’s franchising landscape makes for a unique experience. Many people are excited about owning a franchise in South Africa because there are a number of advantages,” says Morne Cronje, FNB Head of Franchising.
South Africa’s franchising landscape
Franchising is well established in South Africa and the environment has been conducive in attracting both local and global franchise brands. As a developing economy, South Africa has harnessed the power of emerging technologies to foster economic growth, which ultimately has helped them remain competitive in today’s world.
A land of opportunity
South Africa is a fast developing country in terms of infrastructure. Gauteng as an example has the Gautrain and when the 2010 Soccer World Cup arrived, stadiums and roads were being built at lightning pace. It is the land of opportunity and has created a platform for the growth and development for all types of business.
Be your own boss
Even though there will be a franchisor to help and guide you, you will basically be your own boss and run your business the way you want, with assistance from the franchisor. In Business for yourself but not by yourself.
Technology at your fingertips
Efficient, innovative new technology has helped build an infrastructure that has assisted businesses on many levels. Innovation creates growth and can add significant value to small and medium business banking clients.
Support for Franchisees
South Africa has a well established history of franchising, as well as a franchise infrastructure. So if you???re a newbie, you can get support from your franshisor, or fellow franchisees.
Keeping the Family together
Franchising is a way to build a business for your family and to keep the family together. With people leaving South Africa for “greener pastures”, franchising is a way of building towards your family’s future. “What lies at the heart of franchising is the fact that it is not a business, but rather a way of doing business and if the fundamentals of the franchise format are followed, it can be adapted to almost any industry, across all sectors and services,” concludes Cronje.
