Johannesburg – With franchising businesses performing well despite South Africa’s gloomy economy, opening a franchise might be a stellar opportunity for a budding entrepreneur.
Krispy Kreme’s managing director in South Africa Gerry Thomas, founder of RocoMamas food franchise Brian Alriche and ‘living’ brand Ina Paarman all shared their top tips of how to be a successful franchiser at the annual FNB Franchising Summit in Johannesburg this week.
These are their secrets:
1. Select the right franchisor
“We were very firm in our requirements of buying into a franchise,” said Thomas, whose past successes include the Fego and Europa coffee shop brands. “Among our criteria were a franchisor’s pedigree, to be the first to market, as well as social responsibility and financial stability. You also have to be the best in class and have a point of difference are fundamental when investing in a food franchise brand.
“Krispy Kreme’s footprint with emerging economies similar to […]