for subscribers

What small franchisees can learn from big brands

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

For many business owners franchising presents an opportunity to elevate and grow their business and develop a national or even international footprint.

After growing your business from strength to strength setting up a franchise is often the next logical step. If you decide to enter the franchising sector you will face new challenges.

Here are seven tips on how to overcome these challenges and turn your business into a thriving franchise:

Choose the right franchising opportunity

When becoming a franchisor you will need to be stringent with your franchising selection. Your brand is based on your business’ performance and maintaining your good brand reputation is essential as your business grows.  You will therefore to look for franchisees that have the same values and work ethic. This will reduce business closures; demonstrating to investors that you have a stable and good business.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.33
(-0.06)
ZAR/GBP
21.08
(-0.04)
ZAR/EUR
19.33
(-0.03)
ZAR/AUD
11.90
(-0.03)
ZAR/JPY
0.16
(-1.15)
Gold
1949.72
(+0.03)
Silver
26.74
(+0.09)
Platinum
928.80
(+0.44)
Brent Crude
43.52
(-0.32)
Palladium
2356.01
(+0.63)
All Share
54673.65
(-0.66)
Top 40
50399.16
(-0.59)
Financial 15
9841.32
(-2.14)
Industrial 25
72558.00
(-1.08)
Resource 10
55438.10
(+0.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1296 votes
It depends on how the funds are used.
73% - 8621 votes
No. We should have gotten the loan elsewhere.
16% - 1898 votes
Vote