The Business Partners Solution:South Africa''s
franchising sector is expanding quickly and offers a lot of opportunities
for
enterpreneurs. According to Business Partners, an investment company for small and medium enterprises.The sector is constantly expanding to include exciting new options, in addition to the many benefits that the model has to offer.At the present time, franchises are available in such diverse industries as leisure,travel, entertainment, retail, fuel supply, health, beauty, business services, real estate, education and telecommunications.The Franchise Association of south Africa (Fasa) defines business format
franchising as the business relationship between a franchise organisation and a franchisee that encompass not just the product, service and trademark, but also the right to use the franchisor''s business as well.This form is widely regarded around the world as the reason why franchising is so successful in so many countries.In the US, this sector accounts for close on 50 percent of annual retail sales, employs 8 million people and accounts for over $1 trillion in turnover every year.There, one in every 12 outlets is a franchise.At present only near 12 percent of south Africa retail sales are made through franchised outlets, this is a testimony of the sector''s enormous potential, and probably this sector grow up a lot in the near future.Franchising offers a complete business solution for both new and established enterpreneurs, including all sectors. Most franchise chains also offer economies of scale through syndicated purchising, as well as providing excellent training."The challenge for future is to make the franchising choice available to as many people with a viable business plan, vision and drive as possible", says Mr Joe Schwenke, the Business Partners Managing Director.This company offers investment financing and added-value services for all profiles of enterpreneurs, and even has a specialist fund for aspirant young franchises.