Many companies have been using referral programmes as part of their marketing strategies for several decades. The simple principle behind referrals makes them easy to implement as a marketing tool: valued customers who are satisfied with your company’s products and services refer friends and family members and earn a reward for each referred person who becomes a customer. Continue reading
Following our previous blog on how to assess a franchise opportunity, we now move to another important question: should you buy a franchise at all? As an investor you will need to put in a lot more hard work owning a franchise than would be required by any other asset, but the returns could also be excellent. If you are considering buying a franchise, answer the questions below and decide whether this is a good investment for you.
Are you a hands-on person?
Unlike a policy that you can essentially buy and forget about, or a property that requires occasional maintenance and monthly rent collection that can be handled by an agent, a franchise is a business that needs to be managed. If you enjoy managing people and processes, and aren’t afraid of hard work you may be well suited to owning a franchise. Continue reading
Franchises have become a popular choice for investors who have a reasonably large sum of money on hand, and would like to take a hands-on role in wealth creation. Buying a franchise has several advantages: you are investing in an established brand that customers may be familiar with, and you are given access to a supply chain that covers all the basic materials you will need to run your business.
However, for every benefit there is a possible disadvantage and the ability to judge the risk of a franchise will stand you in good stead when making an investment decision. Continue reading
Recently, Finance Minister Pravin Gordhan made his annual budget speech at parliament. This annual event, which draws special guests from the realms of business and government as well as the media, allows the Minister to address the nation and update all of us on the government’s finances. Continue reading