Franchises can be great – or money pits: Business franchise models have become the preferred method of expansion in many industries across the world, allowing business concepts to spread quickly while sharing in the intellectual property and quality control that go along with tried and tested products and services.
South Africa remains Africa’s most vibrant franchising territory, with a host of local and international brands represented. Since the success of megabrands like McDonald’s, franchising’s lure has grown among potential first-time business owners, but the local industry – and a true appreciation of what franchising really means – still has to mature.
“The development of a strong franchising sector is key to addressing South Africa’s two most pressing needs, namely the promotion of entrepreneurship and job creation, but raising start-up finance for franchise purchase remains a stumbling block for potential franchisees,” said Pieter Scholtz, the master licensee for the Action Coach franchise in South Africa. More.
Photo: Jeremy Glyn.
