I am honored to have been elected Chairperson of FASA for 2023/2024. During this period, I together with the CEO of FASA will aim to bridge the gap between the recent eventful past few years with a determined effort to use franchising to kick-start new economic growth and encourage entrepreneurial positivity at all levels. This will include franchise development and penetration throughout South Africa.
The good news is that globally, franchising has fared better than independent businesses, thanks to its tried-and-tested business format that has resilience as a primary aspect of its DNA. That is the beauty of ‘the collective’ made up of franchisors and franchisees who, in times of crisis, come together to tackle the challenges, find solutions and forge new paths to success.
Optimists, like me, believe that the world is not dying but just changing and out of adversity comes opportunity. I believe the next two years will see renewed growth and energy as consumers emerge from behind the clouds into the sunlight, having changed the way they see the world, with new needs and aspirations.
Franchises have also undergone a transformation as they realize that the resetting from the old to the new was needed to be taken to put their businesses back on the path to profitability and growth. Every aspect of running a business – moving from analogue to digital, from in-person to virtual, from store visits to on-line buying – needs to be reassessed and re-aligned on a regular basis.
The goals of the Board of FASA going forward include:
Re-establishing the ethical foundation on which the association was built forty-four years ago and aligning it to the changing worldwide standards. This would include updating any legal challenges that the pandemic brought about to the new trends that are emerging globally in franchising.
Identifying growth areas in the many sectors of business that can be franchised – from mentoring fledgling township entrepreneurs to become established and ethical operators to encouraging large corporate brands to consider (where applicable) converting their company stores to franchised stores as a more economical and profitable option.
With education and training at the heart of franchising, FASA intends driving transformation through education and training of the broader community. This will enable individuals to obtain the appropriate franchise qualifications/skills which with the appropriate financing, enable them to purchase an ethical/successful franchise.
Source: Article taken from the Franchise Association of South Africa (FASA) 2023 franchise manual titled “road to recovery”.
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Maria D’Amico – Consultant Attorney
30 May 2023