Franchisees’ 3 Worst Nightmares

Franchisees’ 3 worst nightmares

(and why the Soapbox Franchise group is different)

Many would-be-entrepreneurs prefer to buy a franchise as opposed to starting a business from scratch, for obvious reasons: A successful franchise offers a proven business model; A franchise group already has brand awareness among its target market, which gives the franchisee a head start in marketing; The franchisor provides thorough training and ongoing support.

While buying into a franchise seems like your best bet, a lot of people would argue that just like a new start-up, being a franchisee has its fair share of challenges. Below are a Franchisees’ 3 worst nightmares and how and why Soapbox offers a different franchise solution. 

  1. High cost of purchasing a franchise

Franchises can cost anything from R500,000 to R10,000,000 and unless you have that amount of money at your disposal, gathering those funds can be extremely difficult, and can put you off the franchising route altogether.

However, a Soapbox Franchise can be purchased for only R250,000. This great purchase price includes a fully functional office, a show-room section with display cabinets, promotional stock and marketing material, plus our full guidance and support. You also get a thorough business plan and business coaching with practical strategic planning sessions every quarter to make sure you are headed for success.

  1. High overheads

Many people only realise how obscene their overheads are once they buy into a franchise.  The high cost of rental space in malls, and large staff components that will result in a huge salary bill. Even a small shop in a busy mall can cost up to R50,000 per month.

Soapbox is different in that it can be run from a home office with good internet or a small rented office, and you’d only need 2 people to run a successful Soapbox Franchise.

  1. Having to buy all stock from the franchisor at inflated prices.

Many franchise groups require their franchisees to purchase stock from head office at set prices. These prices are often higher than that of similar products bought from other suppliers, making it even harder for the franchisee to make a profit.

A Soapbox franchisee has direct access to all suppliers AND gets a group discount on most products from day 1, making the franchisee competitive in the market.

Buying into the Soapbox Franchise makes running your own business a more pleasant experience, leaving you more likely to succeed. The branded corporate clothing and gifts industry is big business and show no signs of slowing down. All the more reason to side with us.

Click here if you are interested in receiving more information about becoming a Soapbox Group Franchisee.

You can also contact Mias at mias@soapboxpromo.co.za for more information about becoming a Soapbox Group Franchisee.

4 Reasons Why Good Systems are key to Small Business Success

4 Reasons why systems are key to small business success

The importance of good systems within a business or company should never be underestimated. Poor systems or the complete absence of systems can cost you your business.

Below are reasons why good systems are crucial if you want to realize small business success.

  1. Systems that deliver consistent results drives Customer-satisfaction
    A successful business system is usually customer-centric. One of the best ways to measure if you have a good system in place is whether they are producing desired results – ultimate customer satisfaction… and delivers it time and again. Good systems ensure that the customer gets a consistently positive customer experience. This leads to trust, repeat business, customer loyalty and word-of-mouth referrals. And having your customers recommend you to their circle of influence, is more valuable than any other form of marketing.
  2. Well-documented systems facilitate effective change management
    Good systems that are well documented, ensures that organisational or staff changes don’t result in disruption in service levels to your customers or overall low productivity levels. For instance, in small businesses a lot of the knowledge leaves when a staff member resigns. If the knowledge is built into the system, a new staff member can be trained quickly and with minimal impact on the customer experience.
  3. Effective systems produce maximum productivity
    A good system transcends the people who are doing and managing the work. A poor system can make your business inefficient. They usually result in tasks taking longer to complete, and unnecessary time and effort being wasted only to achieve minimal results.  Good systems mean less people can do more work in a shorter space of time. Greater productivity means a greater return on investment with regards to your salary bill.
  4.  Thorough reporting systems means business performance analysis becomes simpler and more accurate.
    Good systems provide the business owner with the tools to measure each aspect of his/her business’ performance. These insights help the owner to make good decisions based on actual data and not on guess work.

One of the most important advantages of buying a franchise as opposed to starting a new business from scratch, is the tried and tested systems for every part of the business. Soapbox Group has spent 11 years perfecting the systems, putting business success well within your reach.

  • HR systems Human Resource Systems (HR)
  • Financial systems
  • Stock control systems
  • Marketing systems
  • Sales systems
  • Systems for operations (Operations management systems)
  • CRM systems

So why not get yourself an up and running, safe and secure franchise business, today!

Click here if you are interested in receiving more information about becoming a Soapbox Group Franchisee.

You can also contact Mias at mias@soapboxpromo.co.za for more information about becoming a Soapbox Group Franchisee.

 

5 Things Most New Business Owners Aren’t Prepared For

5Things

And How to Overcome It

 

Ask any business owner about their journey of entrepreneurship and they will list the countless challenges they faced trying to get their new business off the ground. Although starting a business gives you the type of freedom employment otherwise wouldn’t, new entrepreneurs often don’t realise that they will have to wear many different hats as the owner of a small business. Many soon discover that they are kept busy with a whole lot of activities that has no direct bearing on the product they are selling or the service they are delivering. They get frustrated being bogged down with tasks that they are not skilled for and have no experience with. Lack of focus soon becomes evident and shows in the bottom line.

Below is a list of things most business owners aren’t prepared for, and some tips on how to overcome them.

  1. Staff and HR Issues

New business owners don’t realise that HR is more than just hiring and firing. They often make the mistakes of providing poor job descriptions, holding inadequate job interviews, lack of staff training  and poor organisational culture. And then there are all the labour law provisions that need to be adhered to. If things go really wrong, you may even end up at the CCMA.

A good set of employee policies are essential for any business. This can be challenging for new business owners who have no experience in writing employee policies.

If however, you join a franchise group such as the Soapbox Franchise group, you have the back-up of an established business with the policies and procedures already in place. You also have access to knowledgeable people at your franchise head office, should issues arise.

  1. Financial Management

You should be able to present evidence of all your business’ financial transactions and decisions, from inception to present. Small business owners make the mistake of not drawing up a budget let alone sticking to it; not separating their business and personal finances, and not having a competent system for tracking income and expenditure.

For many the best solution would be to hire a professional to deal with your business finances or to simply outsource their accounting activities altogether. This gives them more time to work on the business’ core activities, but leaves the business owner out of the loop. Often the business owner only realises that the business is in trouble when he/she runs into cash flow problems.

If you rather become a franchisee, the Soapbox Group will provide you with training on the basics of accounting and financial management.  They will go even further as to provide you with a customised accounting system with built-in early warning indicators that will let you know that your business is not doing as well as it should be. The franchisor also has a vested interest in your business doing well and will therefore assist you in any way possible to keep your business financially healthy.

  1. Marketing

Entrepreneurs either over-sell their brand, or don’t market it sufficiently. Most aren’t prepared for the amount of effort and time that goes into a good marketing strategy. The same amount of effort you would put into finances or production, needs to be put into your marketing. Compiling a marketing plan cannot be a hasty job. A lot of research and time needs to go into what your product is, what it can do for people, what makes it stand out, and which people would most benefit from it.

At the Soapbox Group we have spent a great deal of time and resources on developing a marketing strategy that produces quality leads and profitable business. The pooled marketing fund paid by all the franchisees also means that the franchisee gets much more for his/her marketing buck. The Soapbox Franchise package includes promotional stock and marketing material.

Furthermore, you will be incorporated into our national marketing strategy through our tried and tested methods and platforms, giving your franchise business maximum exposure!

  1. Sales

Many business owners believe that just because they have the entrepreneurial bug, then they are automatically good sales people. This isn’t always the case. There is more to sales than just making a sale. One must consider where it is their leads are coming from, how to gain new customers, ROI, or having a sales process in place. Many business owners can overcome their sales challenges by not trying to do it all by themselves. Calling in a bit of help on the sales side of things will save you a lot of money, confusion and disappointment.

As a Soapbox franchisee, you and your sales staff get trained in the best sales strategies and techniques, putting you on the path to success.

  1. Admin

Bet you were never prepared for the amount of admin that comes with running a business! When you are caught up in the bigger scheme of things, it is easy to forget the small details and the nitty-gritty behind the scenes. If neglected, admin tasks can cost you your business. Something as fundamental as filling in and presenting the necessary legal paperwork; tax admin; data management; returning phone calls can, if left undone, prove to be a major blow to your business. Organising and prioritizing the tasks ahead of you each day can stop you from falling behind on the admin work. If admin isn’t your thing, then calling in an extra pair of hands is the best solution.

As a franchisee, you will enjoy the benefit of your franchisor’s administration experience and systems, so you can hit the ground running!

So why not get yourself an up and running, safe and secure franchise business, today!

Click here if you are interested in receiving more information about becoming a Soapbox Group Franchisee.

You can also contact Mias at mias@soapboxpromo.co.za for more information about becoming a Soapbox Group Franchisee.

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