Says Vera Valasis, executive director of FASA, “When the country had to endure years of sanctions and isolation, the franchise sector did not fade into oblivion but instead took great entrepreneurial strides and developed home grown franchise concepts, many of which are household names and today 88% of its franchise concepts are home-grown. Likewise, through all the economic recessions, franchising has stood its ground and continues to be the first entrepreneurial stone thrown that causes the ripple effect in business innovation.”
With just over 12% of business activity going through the franchise route at present compared to over 50% in the US, the potential for increased franchise growth remains high and shows like IFE aim to provide an ideal platform for prospective franchisees to find out more about this business format. When there is insecurity in the job market, or when retrenchments or retirements happen, people are spurred into being entrepreneurial, fully aware that they have to consider alternative careers. The opportunity of going into business suddenly becomes feasible and it is here that franchising comes into its own.
Says Thulani Cele, chairman of FASA, “South Africa has many entrepreneurs who have the drive and finance to start their own businesses but who do not give enough consideration to franchising as a route to diversify and achieve their ambitions. We appeal to business entrepreneurs who believe they have a good concept or who have an existing business they wish to expand, to consider franchising and to become part of this growing business sector.”
A Speakers' Corner sponsored by Standard Bank will host key speakers on a wide range of subjects pertinent to business success, franchising and funding. A two-day Franchise Convention, which runs alongside IFE 2010 will look at the state of the economy, the state of the nation and unpack the elements needed to propel franchisings' growth through the next decade.
The management and board of FASA will be offering companies wishing to consider the franchise option a special preview of IFE 2010 on Thursday, 6 May - with the opportunity to meet some of the key players in the industry and be advised on whether their business concept could be franchised. To receive an invitation to the preview contact Giuli Osso on tel: +27 (0) 11 802 1611, fax: +27 (0) 11 802 3712 or email: .
