Issue 53 January/February 2017
2017 is off to a great start and we are looking forward to a very exciting year for a couple of reasons.
From our cover story our readers will relate that franchising, as a business format, is gaining serious momentum in the emerging space. There is little doubt that the Micro Franchisor Development Project, an initiative by the Department of Small Business Development (DSBD), will enhance the reputation of franchising as an enterprise development mechanism, while playing a valuable role in reviving township economies.
Tasked by the DSBD to oversee the development of the micro businesses to become franchise ready, SA Franchise Warehouse is happy to report that the development of the first eight businesses are progressing well, and we expect franchise opportunities for these brands to be made available very soon. We have received tremendous support from Mr Mzi Memani, the Director of Enterprise Development, at the DSBD with every aspect relating to the packaging and development of these micro businesses.
We have been communicating the progress on our Jobs Fund Project since 2013 and we are pleased to confirm that the first round of Jobs Fund grant funding has been absorbed into the franchise sector, exceeding the initial projected 36-month implementation period by only a couple of months. After a bumpy start a couple of adjustments were made and the project was turned around in 2016.
The Jobs Fund has since expressed an interest in scaling up the project within the franchise sector to at least three times the size of the first project, which should see the creation of no less than 3,000 jobs over the next four years. Since the changes to the initial structure of the funding was implemented, brands such as SPAR and Food Lovers Market have embraced the project with huge interest and will be significant participants going forward.
2017 will also see SA Franchise Warehouse bringing other operational solutions to the franchise sector, such as franchise specific short term insurance options and franchisee employee banking and benefit solutions, but more about this in our next issue.
The SA Franchise Warehouse team would like to wish our readers a prosperous 2017.