How to Buy a Franchise in South Africa
- 1. Approach the franchisor The first step is to approach the franchisor to express your interest and see whether you can take the discussions to the next level. ...
- 2. Complete the application process ...
- 3. Find out more ...
- 4. Find the right location ...
- 5. Secure the finance ...
- 6. Sign on the dotted line (but read the small print first) ...
- 7. Preparing for launch ...
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What is the most profitable franchise to own in South Africa?
These are the start-up costs for opening some of the biggest franchises in the country: KFC – from R6 million. Nando's – from R7 million. Debonairs – from R2 million....Top 20 fast food franchises that make the most money in South Africa.BrandSteersRevenue (2017)R1.35 billionGrowth (from 2016)8.9%Franchises (2017)561Revenue per outletR2.4 million19 more columns•Aug 2, 2018
Who owns Spur in South Africa?
Ambor started the first restaurant with R2,000 of his own money, R4,000 from his father and an additional R5,000 from a partner who was eventually bought out; amounting to a total starting capital of R11,000.
How much does it cost to open up a franchise in South Africa?
Breakdown of average Total InvestmentDescriptionDrive-ThruInlineFixtures and fittingsR1 894 000R1 355 800Average Investment (Excluding VAT)R6 800 000R5 000 000Franchise FeeR 250 000R 250 000Total Average Establishment Costs (Excluding VAT)R7 050 000R5 250 0004 more rows
How much does spar franchise cost?
Start-up-costs for buying an exisiting store (40% unencumbered ) : KWIKSPAR from R5 million. SPAR from R8 million. SUPERSPAR from R10 million.
Is RocoMamas owned by Spur?
Spur Corporation acquired the majority stake in RocoMamas in March 2015. With growth on the horizon for RocoMamas, Spur Corporation looks forward to keeping the brand true to its core values and distinctiveness that customers unquestionably love.
Who is the founder of Spur?
Allen AmborSpur Steak Ranches / Founder
What is the cheapest most profitable franchise in South Africa?
Which is the Cheapest Franchise to Buy in South Africa?Fish & Chip Co.: Roughly R645 000 starting cost plus R4400 monthly payment.King Pie: Approximately R600 000 starting cost.Zebro's Chicken: Roughly R831 000 plus 4% of monthly turnover.
Is a franchise fee paid monthly?
Franchise royalties are usually collected by your franchisor on a monthly basis. Like marketing fees, these fees are based on a percentage of your revenue.
What franchise makes the most money?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
Is Pick n Pay a franchise?
Pick n Pay started as a family-run business, but has since grown to include 1,795 stores, of which 719 are franchises covering their supermarkets, express, clothing and liquor stores.
How much does a Vodacom franchise cost?
At a cost of about R 26,000 (US$3,450),1 prospective owners can start a franchise to operate five cellular lines in a pre-approved location.
Can I franchise Shoprite?
Woolworths, Shoprite, and Checkers don't franchise at all. Woolworths stopped franchising its stores in 2010 altogether, and the Shoprite Group franchises only a small section of its market share via its OK Franchise Division.
When was Spur founded?
1967Spur Steak Ranches / Founded
How old is Allen Ambor?
Renowned businessman Allen Ambor (76), the founder and executive chairman of Spur Corporation, has announced that he will retire on 1 March 2019. It all started on 24 October 1967 when Allen opened the doors of the Golden Spur in Dean Street, Newlands.
Is Spur a franchise?
Its value-based quality family offerings across Spur Steak Ranches, Panarottis Pizza Pasta and John Dory's Fish Grill Sushi are all operated on a franchise basis. The company, as franchisor, provides support to all our franchisees in a number of areas, both before and after opening a new family restaurant outlet.
When did Spur start in South Africa?
1967Since 1967, when founder, Allen Ambor, opened the Golden Spur in Newlands, Cape Town, Spur Steak Ranches have been part of the South African family. In the years since then, Spur has helped to create countless special memories and earned a reputation for tasty, nutritious, value-for-money meals.
What is Spur Grill and Go?
Spur Grill & Go is a fresh and trendy interpretation of the iconic Spur Steak Ranch brand and caters for commuters and smaller town locations. Centred around the global ‘fast-casual’ dining phenomenon, it offers a quick and convenient counter-service experience, where customers can choose to sit down or eat on the go with a takeaway. A reduced menu emphasises the traditional Spur favourites such as burgers and steaks, as well as our famous ribs and wings.
Where is the Golden Spur?
Since 1967, when founder and executive chairman, Allen Ambor, opened the Golden Spur in Newlands, Cape Town, Spur Steak Ranches have been part of the South African family.
How long does a franchisee have to sign a franchise agreement?
Franchise agreements are subject to the Consumer Protection Act (CPA). The CPA states that a franchisee should have at least 14 days to consider both the franchise agreement and disclosure document and that a franchisee may cancel a franchise agreement within 10 days of signing it without penalty.
What is the most common form of funding for a franchisor?
There are many forms of funding , but the most common form is a loan from a bank. The franchisor will often assist you with your application, suggesting a preferred bank and providing templates for you to complete your business plan.
How long before you sign a franchise agreement do you have to disclose information?
At least two weeks before you sign a franchise agreement, you’ll receive a franchise disclosure document from the franchisor. This document will give you the full details of the business including any possible areas of concern such as impending litigation as well as in-depth information about the businesses prospects. Read this document carefully and have the documents reviewed by a lawyer familiar with franchise agreements to explain it to you. You may also be required to sign a non-disclosure agreement to deter you from passing on highly confidential information.
What do franchisors want to know about your business?
The franchisor will want to know about your personal assets (and liabilities) to make sure you have enough resources to operate the business in case it runs into unforeseen financial difficulty.
Why is it important to find the right franchise location?
For most franchises the right location is critical to the businesses success. The challenge is that good sites are in high demand and it may take some time to find the right one. Your franchisor will typically assist you with finding the right site often guided by geographic market research.
Do you have to sign a non-disclosure agreement?
You may also be required to sign a non-disclosure agreement to deter you from passing on highly confidential information. If you are satisfied with the information shared you will go on to sign the franchise agreement. Franchise agreements are subject to the Consumer Protection Act (CPA).
Can a franchisor talk to a franchisee?
It is often difficult to separate the franchisor’s enthusiasm from the daily realities of running the business. At this stage most franchisors will allow you free access to talk to any franchisees in their network. Use this opportunity to ask questions about sales trends and the support received from the franchisor.
How much does a franchise cost in South Africa?
McDonald’s South Africa estimates the cost of a franchise to be anywhere between R4 million – R6 million, depending on the type of restaurant and other factors. Applicants are are also expected to have a minimum of 35% of the purchase price of a restaurant in unencumbered, non-borrowed cash.
What is McDonald’s franchise fee?
How much is a McDonald’s Franchise? The total investment necessary to begin operation of a traditional McDonald’s franchise ranges from $1,008,000 to $2,214,080. This includes an initial franchise fee of $45,000.00 that must be paid to the franchisor.
