A leading commercial bank has partnered with Franchising Plus to provide assistance to developing, qualifying franchisors in the form of a Franchisor Incubator Programme.
The purpose of the Franchise Incubator Programme is to develop potential franchisors by resolving the challenges they face, which includes:
- Lack of knowledge on how to franchise their businesses
- Lack of proper business strategy and implementation plans
- Lack of infrastructure to support their franchisees
- Marketing strategies to grow their franchise business
- Access to capital to assist their franchisees
The Incubator Programme will consist of a franchise development course, Franchising Plus’ assistance with development of a franchise strategy and expansion plan as well as 4 months mentoring to implement the plan (valued at R130 000 per candidate). The programme will likely kick off in July 2014. We will be selecting only 10 developing franchisors to partake in this programme.
This 6 month Franchise Incubator Programme entails:
- Attending a 5 day Franchise Development Course
- Working with Franchising Plus by attending monthly project meetings to receive assistance with mentoring, strategy, project plan implementation
Selection criteria includes:
- Business must have been operating for at least 12 months
- Skills Transfer/Training potential
- Unique branding potential
- Adequate margins to support franchise fees
- Market potential
- VAT registration
- Access to at least R150 000 capital to develop franchise documentation
- Must have expansion potential of at least 10 outlets
- Good management capability
- Must be in an industry that has potential to grow
Should you be interested in applying to be on this Programme and finding out further information – kindly contact Melissa Ontong before the end of April 2014 on 011 454 2235 or Email firstname.lastname@example.org.