How to Franchise Your Business in South AfricaDo you have a business that you think may be right for franchising? Then this section can help you to identify if your business is “franchiseable” and what the steps are that you need to take to develop your franchise.
Franchising should not be as seen as a testing ground for new or unproven business ideas but as a means of expanding an already successful business. You need to therefore have an existing business that is trading successfully before you consider franchising your business.
Frequently Asked Franchising Questions and Answers
Franchising your business can be a very successful way of expanding your business, provided that you have a business to begin with. Many of today’s well-known brands have used franchising to accelerate the growth of their existing businesses, building national or even international brands in the process. However, franchising should never be seen as a testing ground for a brand new (and unproven) business idea but as a means of expanding an already successful business.
Before franchising your business, it is important to understand the advantages and disadvantages about franchising your business. Here we cover some of the very important aspects for Business Franchising.
Generally, the answer must be a resounding ”yes”. Seeking input from qualified outsiders will bring an extra perspective to the business to be franchised and help the prospective franchisor understand the intricacies of this step. Initially, the consultant will help the franchisor to decide whether franchising is right for the business and its culture. If so, he or she will advise on developing the franchise package. Several professions can become involved, most often a franchise consultant, an accountant and a lawyer.