Tony Da Fonseca, MD of the OBC Group and Chairman of FASA, is confident that franchising can hold its own in our fast-moving world where change is seen as a constant. Backed by FASA’s survey sponsored by Sanlam that shows the sector’s performance remains on an upward trend, with 845 franchisors and their over 40,000 franchisees generating sales of R587 billion contributing 13,3% to the country’s GDP, he is confident that this successful business format will continue to outperform the overall economy.
Upholding ethical standards is at the core of what FASA stands for and the board and management of FASA have various initiatives in place to assist newcomers to the sector as well as strengthening its existing membership base. Before being admitted as members of FASA, franchisors must complete a detailed application form. An investigation into the applicants’ track record and financial stability as well as an examination of the franchise documentation follows. On admission, members become bound by FASA’s Code of Ethics which further protects the interests of franchisees.
However, dealing with a member of FASA does not remove the need for a careful examination of the opportunity. Because investing in a franchise is a significant long-term commitment, prospective franchisees need to examine all relevant aspects, including their own attitude, aptitude and willingness to work extremely hard before they sign a franchise agreement.
Franchising has become the most successful business model the world has ever known and has a bright future. Join us on the exciting journey that lies ahead – to find out more visit www.fasa.co.za!