Despite the way COVID-19 turned the world upside down, South Africa seems to have shown its resilience and grit. Investing in a franchise is one of the ways to succeed during an economic recession as brought about by the global pandemic.
The franchise business model is globally successful
In the words of Franchise Association of South Africa (FASA) chairperson, Akhona Qengue, franchising is “a trusted business model, it’s a bankable business model, and funders love our concept.” No wonder, then, that franchise brands tend to better weather the storms of uncertainty and a weaker economy.
What makes franchising viable?
By investing in a franchise, you trade as part of an established brand with an existing client base while being supported by a franchisor with all the industry-specific knowledge and expertise you could wish to draw upon. But diving into the next franchise opportunity that comes your way is not the answer. It is important to find a good fit if you plan to turn your passion into profit:
- While it is not essential if the franchise training is thorough enough, it is a good idea to start by looking for a franchise in an industry you have some experience in.
- Double check that you are not buying just an operating licence as opposed to a franchise. The difference is the background training, systems, support, and access to a global network you should receive from a franchisor.
- Familiarise yourself with the systems and processes of the franchise you plan to buy into, as well as how the financial side of owning the franchise works.
- Reach out to current franchisees to discover what they like and dislike about being a franchisee within the group.
Join our team of digital marketing experts
With a global network, thorough discovery and training processes, and the largest group of digital marketing agents in the world, WSI is the ultimate franchise opportunity. With over 20 years of franchising behind them, WSI is continuously evolving the business model to ensure relevancy and profitability in a dynamic industry. Find out what our franchisees have to say about being part of our elite team of digital marketing experts in these interviews.
If you would like to find out more about buying a WSI franchise, contact us without delay!