Conducive businesses empower local communities
Even before the pandemic, entrepreneurs were constantly searching for ways to innovate their business or pivot into something new to get ahead of the curve.
The advent of COVID-19 has also exacerbated the need to diversify business interests and invest in commercial activities that can yield immediate returns and have a higher rate of success, says Chief Operating Officer of The Franchise Co., Marcel Strauss.
“It is vital that we create a conducive environment for entrepreneurs to thrive if we are to revive the economy and arrest the high rates of unemployment which currently sit at 32.5%, the highest it has been in the last thirteen years. The Franchise Co. has created an opportunity for anyone with a passion for business to take charge of their future by investing in one of South Africa’ most successful businesses, franchising,” says Strauss.
He says the Nyamalicious mobile restaurant is one example of a business that has immense potential to create employment while driving entrepreneurship. The restaurant can be operated by one or two people and because franchisees have the freedom to adjust their menu to meet the needs of their demographic, operators of the mobile restaurant can empower a supplier of their choosing, further growing local economies.
To ensure entrepreneurs have the best chance at success, The Franchise Co. walks the business journey along with franchisees.
The Nyamalicious mobile restaurant is supported by extensive well-researched and developed operational support systems including menu pricing, stock take and training of franchisees and their staff members. These systems support and make efficient all the activities of the organisation, providing critical information on sales, cash flow, and other financial performance data to the franchisee to allow the necessary action to be taken to correct for any variances.
“And unlike a brick-and-mortar shop which is reliant on walk-ins, the Nyamalicious mobile restaurant has fewer overheads to contend with and can be taken to where the client base is, making it a cost-effective and adaptable business,” says Strauss.
According to the International Finance Corporation, a subdivision of the World Bank Group, small businesses that contribute to the economy and create jobs are one of South Africa’s biggest development opportunities. Small enterprises employ between 50 and 60% of South Africa’s workforce and contribute around 34% of the country’s GDP.
“Entrepreneurs know just how much of a contribution their actions make on the economy but also in the lives of the people their businesses employ. By creating the idle business and conditions to succeed, more communities are empowered, and more people can lift themselves out of the clutches of poverty through employment. The Nyamalicious mobile restaurant is an excellent attempt at equipping entrepreneurs with the resources to change the socio-economic dynamics of their lives and those of the community,” concludes Strauss.