The International Franchise & Entrepreneurs Expo, which takes place from the 6 – 8th May 2010 at the Sandton Convention Centre has, over the past 16 years, developed into the biggest franchise exhibition on the African continent and the most dedicated to developing not only franchising but encouraging small business development and entrepreneurship. With 12% of business activity going through the franchise route at present, the potential for increased franchise growth is high and shows like IFE are the ideal platform for prospective franchisees to find out more about this business format that allows you to get into business for yourself but not by yourself.

Despite the predictions of a global recession, franchising is the one business sector that seems to be able to weather the storm of economic downturns and indeed, historically has been know to thrive when things slow down.  When the market is down, and there is insecurity in the job market, or when retrenchments or retirements happen, people are spurred into being entrepreneurial, fully aware that they have to consider alternative careers. The opportunity of going into business for themselves suddenly becomes feasible and it is here that franchising comes into its own. The combination of determination and a will to succeed from their side, coupled with a sound franchise opportunity, a solid brand and the fact that when times are hard, consumers choose well-known franchise brands over new, untried concepts resulted in a plethora of successful franchisees.

South Africa is one of those emerging markets that will experience a boom in franchising and with less than two years to the 2010 FIFA World Cup event, South Africans are preparing for this momentous event which is going to put the spotlight firmly on our beautiful country. Seen by many as a turning point for South Africa not only in terms of our global profile but as a gigantic boost to our economy, the franchise sector can play a major role in delivering world class products and services. Many new franchise concepts, it is expected, will also be developed by entrepreneurs who see the 2010 World Cup as the perfect opportunity to start that new concept or business.

HOW TO MAKE THE MOST OF VISITING IFE

The International Franchise Expo, to be held at the Sandton Convention Centre from the 2 – 8th May 2010 from 10h00 to 18h00, will feature a wide range of business opportunities.  Although South Africa might lag behind the innovation of the United States, the ripple effects of many new concepts are starting to be felt, and we have our fair share of home-grown concepts. IFE 2009 not only boasts an impressive range of well-known brands and a host of new business opportunities but is also the place to find out everything to do with acquiring a new business, franchising and financing  

Franchising is without doubt the most successful business mechanism in the modern world.  It continues to provide the widest possible entrepreneurial opportunities for people from all walks of life and from all backgrounds.   With close to 50% of all retail sales going through the franchise mechanism in the United States, with Western Europe at 30%,. Australia at 26% and South Africa at around 12%, franchising’s ability to duplicate successful businesses from a wide range of business sectors is the key to its success across the globe.

Buying a franchise is like getting a pattern for that jumper you like, or that recipe for that “to-die-for-chocolate-cake”.  You have in your hands the formula to make things happen, but it’s up to you to activate either the pattern or the recipe.  Similarly, a franchisor only provides you with a blueprint for business success - he will give you the tried and tested recipe, but he won’t bake the cake for you.  

• The first challenge is to choose a business that you can afford, that you enjoy, that gives you the training and know-how, that gives you the support you need and provides the financial return you want. 
• The second challenge is to take the proven formula for business success and make it work for you.  The challenge of a franchise opportunity lies in three vital ingredients - opportunity, means and motivation.

TIPS WHEN VISITING IFE

1.  COME PREPARED
Franchise Expo’s offer an overwhelming number of business opportunities.  Allow for a good few hours to work the show and speak to the relevant people.  Remember, you are there primarily to gather information so give yourself enough time to do the rounds.

2.  YOUR CATALOGUE IS YOUR GUIDE
Work the show using the catalogue.  Mark those franchisors that interest you and make note of key peoples names and telephone numbers.  You will need to refer to them later when you do an assessment of what you saw and what you intend following up on.

3.  CONSULT WITH FASA
The Franchise Association of Southern Africa, who stage the exhibition, have a stand and can help you with any questions you might have about franchising in general.  They also have a series of books on sale that will help you make the right decision - from their Yearbook that lists all their members to their book on How to Evaluate a Franchise.

4.  CONSULT WITH THE PROFESSIONALS
Besides the franchisors, Franchise Expo’s have all the auxiliary professionals to the franchise industry exhibiting - the franchise consultants who can help you if you want to franchise your own business, the banks who specialise in assisting franchisees, the lawyers and the auditors who can assist you with the legal and financial part of buying a franchise.

5.  TALK TO THE FRANCHISORS
Franchise Expo’s give you the opportunity to talk to a wide range of established and new franchisors about their concepts.  Don’t be afraid to compare concepts and to ask questions in order to get as much information about how franchising works.

6.  DON’T BE PRESSURISED TO SIGN UP
The IFE exhibition, controlled by FASA, has very strict rules for their franchisors including a 14-day “cooling off” period before signing any contract.  Don’t be rushed; take time to do your homework and think carefully before you decide.

8.  DON’T BE TAKEN IN BY THE HYPE
Franchising is one of the most exciting business sectors to be in and it is easy to get carried away with how wonderful an opportunity it is and how much money there is to be made.  A responsible franchisor will always give you both sides of the picture - giving the positive side but also pointing out the serious commitment you will be buying into and the hard work that it entails.