Posts

Spring cleaning your business builds team spirit

Image
It’s time to think laterally about spring cleaning your business, says Cash Converters Managing Director Richard Mukheibir – convert this seasonal chore into an opportunity to market your brand internally and externally.

Building greater cohesion and motivation across the Cash Converters franchisee network has been an unexpected spinoff of their first network-wide promotion, the company now realises.

“Like any trader, we find that some goods move fast but other stock lingers so we decided to experiment with our first-ever Spring Clean Sale in early September,” he says. “The idea of clearing some of our inventory quickly at discounted prices is a perennial, of course. But what seems to have made the difference was how we implemented it.”

Franchising typically appeals to owner-operators who want a small business that combines independence and franchisor support, says Mukheibir, so it was not possible to be absolutely sure how franchisees would respond to this first-ever promotion acros…

#SAFranchiseFriday featuring Flooring Boyz

Image
BACKGROUND
Team Flooring Boyz is a vibrant family-owned company started by Willie Loots who still believes in doing things right the first time. On retirement, the urge not to sit at home motivated Willie to start another business — and so Flooring Boyz was born.

Team Flooring Boyz operates as a home-based business with its head office located in Waverley, Pretoria. With 12 years of trade experience, Flooring Boyz has emerged as a truly successful business that continues to grow from strength to strength.

THE CONCEPT 
To ensure that their clients receive the best laminate floors possible, and in order to uphold their promise of superior workmanship while honourig their quality guarantee, Flooring Boyz only installs laminate flooring that conforms to the standards prescribed by The Association of European Producers of Laminate Flooring (EPLF).

While their focus is primarily the domestic market, for franchisees willing to take the initiative there is scope to grow in the commercial proje…

MTBPS: Economic growth crucial to SMEs

Image
SME Medium-Term Budget wish-list

While local small and medium enterprises (SMEs) have many wishes for the upcoming Medium-Term Budget Policy Statement (MTBPS) that will improve the ease of doing business, none of these will be significant unless the ultimate outcome of the speech is improved economic prospects.

This is according to Ben Bierman, managing director at Business Partners Limited (BUSINESS/PARTNERS) – a leading risk financier for SMEs. He says that an emphasis on the creation of a supportive business ecosystem – through an increased budget allocation to the SME sector – will send a strong signal recognising and supporting the role of SMEs in generating the type of inclusive growth that South Africa so desperately needs, but that it will ultimately become a moot issue if the broader policy uncertainty and impasse around a growth imperative is not addressed.

Bierman explains that although the local economy has received some good news over the past couple of months in the form…

Fuel franchising continues to be resilient as economic indicators remain subdued

Image
By: James Noble, Business Development Manager: Fuel Industry, Absa Business Banking

The South African fuel retail industry has grown considerably in recent years. In fact, it is one of the few sectors to weather the downgrading, rand volatility and negative growth rates recently experienced.

Fuel retail specifically is a highly specialised sector, with operating margins that are affected by a multitude of factors such as oil prices, labour costs, exchange rates and regulations, to mention a few.

In the current economy, only a small number of industries can claim to be recession proof. The fuel retail sector has proven to be just that; showing healthy profits in times of slow growth cycles.

Growth Indicators

Service stations in South Africa have a combined annual turnover in excess of R200 billion. The country remains the biggest consumer of fuel on the continent, claiming more than 20% of the market share. Satellite sectors create multi-channels of employment that generate economic opp…

#SAFranchiseFriday featuring Body20 Studio

Image
BACKGROUND
Body20 Studio is a rapidly growing franchise within the fitness industry. The combination of state-of-the-art Electro Muscle Stimulation (EMS) technology, modern personal training and rapid fitness makes Body20 one of the most exciting franchise opportunities in fitness this decade. Courtesy of its streamlined operations and strong unit economics, the Body20 franchise delivers a high return on investment.

With their strong emphasis on professionalism, transparency and consistent quality service, they aim to assert their position as South Africa’s premier EMS Studio and to establish a network of 100 franchises in the coming years. In addition to a successful career as a body builder and fitness athlete both on the national and international arenas, founder Bertus Albertse worked in the health and fitness industry for eight years before establishing the Body20 brand, ensuring a thorough understanding of the industry.

THE CONCEPT 
Local support is available and provided by Body…