The Fish & Chip Co. has a new store opening almost every third day!
The Fish & Chip Co.’s rapid impact on the fast food franchising industry in South Africa could result in considerable growth in the near future. The company is set to continue to expand at an increasing rate with one new store opening every third day, on average.
The company’s intent to expand is supported by its impressive franchisee support since commencing business in 2009. Since its inception, over 300 outlets have been established countrywide. In 2012 alone, an impressive 120 stores were opened. The establishment of these stores have also provided for some great advances in alleviating unemployment as it is estimated that about 3,300 employment opportunities have been created to date, with approximately 250 individual franchisees operating The Fish & Chip Co.’s stores.
The Fish & Chip Co.’s Managing Executive, Marcel Strauss, notes that Taste Holding’s decision to purchase the company in November 2011 was based on the sound business proposition that the acquisition presented.
“By acquiring The Fish & Chip Co., Taste food franchise division was afforded the opportunity to gain a significant foothold in the wider South African market, as its product is appealing to all markets in South Africa, including poverty stricken areas. This is because our business model specifically caters to those trying to stretch a couple of rands as far as possible, and with our reasonably priced meals, the lower income markets can afford to feed an entire family inexpensively. This is a unique selling point that very few other food brands can offer.”
He further notes that the acquisition provided Taste food franchise division with the opportunity to aggressively double the size of the franchises that existed as part of the previous holding company and also increased the profitability of the company. Recent financial results suggest that the acquisition has helped fulfil this goal of expansion, with the size of Taste Holdings having increased by approximately 40%.
Strauss further states that The Fish & Chip Co.’s franchising model is the ideal set-up to help aspiring local entrepreneurs realise their franchising dreams, owing to the low set up cost required for stores as well as the valuable operational support that is provided.
His assertion is backed up by the facts that about 93% of the company’s franchises are black owned, indicating that it affords many entrepreneurs in the emerging black market with the opportunity to obtain long term business and financial success.
Strauss concludes that The Fish & Chip Co is confident of achieving its stated goals.
“The Fish & Chip Co. is set to build on an already well received brand by offering consumers a traditional English fish meal at a very affordable price, and by offering potential franchisees the opportunity to own an affordable and highly successful business of their own.”