SA Franchise Brands welcomes Rennie van Wyk, Franchisee for On Tap Mosselbay and On•Tap George to share some aspects on being a Franchisee.
What questions should prospective franchisees ask themselves before buying a franchise?
- Are you a team player?
- Do I have the financial literacy?
- Do I have a passion for the business I intend to start/buy?
- Do I have the necessary integrity, responsibility, trust and courage?
What made you decide to invest in a franchise?
- A franchise has a built in system with a tried and tested working model.
- Collective marketing and brand building.
- Better buying power and pricing.
- The use of a pool of various skills to help you succeed.
How important is it to investigate a franchise and what criteria did you use?
- It is important that they are members of the Franchise Association of South Africa?
- How long the franchise has been established and how many outlets are operative?
- Look at the capital outlay versus the return on investment.
- Is it a sound and stable franchise?
- Also investigate your competition.
What made you invest in a On Tap franchise?
- The strong brand name with affordable franchise fees.
- One of the few franchises in the building/plumbing industry.
- I knew that without the expertise and backup of a dynamic franchise group, success would be very difficult.
- The franchise business model allows us to be part of an established business with the autonomy of being my own boss.
What early challenges did you face?
- Keeping all customers happy by being friendly, helpful and rendering the best possible service.
- Mastering all the different disciplines in business.
- To establish our own market through hard work, long hours and a conservative lifestyle.
What training and support does the Franchisor provide you with?
- For a new franchisee all aspects of the business operations, IT software programmes and shop layout is done before commencement of business.
- Collective Marketing and Advertising.
- National and Regional promotions.
- National price structures and negotiations with suppliers.
- Financial analysis and comparisons.
- They also provide a platform to learn from other franchisees.
How important is the Franchisee’s relationship with the Franchisor?
- Extremely important as this relationship is like a partnership.
- Mutual trust will also play a huge role in the success of such a partnership.
- Good communicating skills both ways will help build on this relationship/partnership.
- A good relationship is detrimental for your business and possible growth.
What advice would you give to prospective franchisees?
- Do your research properly.
- Do a thorough due diligence before committing.
- Understand the financials of this business.
- Look at the lifestyle you will be taking on and understand the influence on your family.