Franchise expo focuses on recovery from recession

{ Posted on Aug 14 2013 by B-man }
Categories : Travel news

The International Franchise Exhibition (IFE) 2010 held under the auspices of the Franchise Association of Southern Africa (FASA) will take place from 6 to 8 May at the Sandton Convention Centre in Johannesburg.

The first local franchised fast food outlets were launched in the 1960′s and today the franchise business model dominates growth in this industry.

Vera Valasis, executive director of FASA, says: "When the country had to endure years of sanctions and isolation, the franchise sector did not fade into oblivion but instead took great entrepreneurial strides and developed home-grown franchise concepts, many of which are household names and today 88% of its franchise concepts are home-grown."

"Likewise, through all the economic recessions, franchising has stood its ground and continues to be the first entrepreneurial stone thrown that causes the ripple effect in business innovation."

With just over 12% of business activity reportedly going through the franchise route at present, compared to over 50% in the US, the potential for increased franchise growth remains high. The IFE aims to serve as a platform to highlight this business format to prospective franchisees.

Insecurity in the job market, retrenchments and retirements have resulted in a greater interest in entrepreneurial business models and alternative careers. The franchise industry is keen to promote this at the IFE.

Chairman of FASA Thulani Cele adds: "South Africa has many entrepreneurs who have the drive and finance to start their own businesses but who do not give enough consideration to franchising as a route to diversify and achieve their ambitions. We appeal to business entrepreneurs who believe they have a good concept or who have an existing business they wish to expand, to consider franchising and to become part of this growing business sector."

The show is expected to attract close to 100 exhibitors from a range of business concepts and brands; from fast food to car repairs, retail to education.

Standard Bank is hosting a Speakers' Corner, where key speakers will present on a wide range of business success, franchising and funding topics.

A two-day franchise convention will run alongside the exhibition.

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