The International Franchise and Entrepreneurs' Expo

The International Franchise & Entrepreneurs Expo (IFE), the biggest franchise exhibition in Africa, takes place from 2-4 April at the Sandton Convention Centre. Even in the current economic climate, the potential for franchise growth is high and shows like the IFE are the ideal platform for prospective franchisees to find out more about this sector.

Despite the predictions of a global recession, franchising is one business sector that has been know to thrive even when other businesses slow down. And at a time when more and more people are considering going into business for themselves, franchising can be an attractive option.

With the backing of a solid brand and customer loyalty even in harsh times, the entrepreneur may find he can have the best of both worlds.

TIPS WHEN VISITING IFE

IFE 2009 boasts an impressive range of well-known brands and a host of new business opportunities. It aims to provide you with all the information you need to acquire a new business, franchising and financing. To get the most out of the expo: 

1. COME PREPARED
Franchise Expo's offer an overwhelming number of business opportunities. Allow for a good few hours to work the show and speak to the relevant people. Remember, you are there primarily to gather information so give yourself enough time to do the rounds.

2. YOUR CATALOGUE IS YOUR GUIDE
Work the show using the catalogue.Mark those franchisors that interest you and make note of key peoples names and telephone numbers. You will need to refer to them later when you do an assessment of what you saw and what you intend following up on.

3. CONSULT WITH FASA
The Franchise Association of Southern Africa, who stage the exhibition, have a stand and can help you with any questions you might have about franchising in general. They also have a series of books on sale that will help you make the right decision - from their Yearbook that lists all their members to their book on How to Evaluate a Franchise.

4. CONSULT WITH THE PROFESSIONALS
Besides the franchisors, Franchise Expo's have all the auxiliary professionals to the franchise industry exhibiting - the franchise consultants who can help you if you want to franchise your own business, the banks who specialise in assisting franchisees, the lawyers and the auditors who can assist you with the legal and financial part of buying a franchise.

5. TALK TO THE FRANCHISORS
Franchise Expo's give you the opportunity to talk to a wide range of established and new franchisors about their concepts. Don't be afraid to compare concepts and to ask questions in order to get as much information about how franchising works.

6. DON'T BE PRESSURISED TO SIGN UP
The IFE exhibition, controlled by FASA, has very strict rules for their franchisors including a 14-day "cooling off" period before signing any contract. Don't be rushed; take time to do your homework and think carefully before you decide.

7. DON'T BE TAKEN IN BY THE HYPE
Franchising is one of the most exciting business sectors to be in and it is easy to get carried away with how wonderful an opportunity it is and how much money there is to be made. A responsible franchisor will always give you both sides of the picture - giving the positive side, but also pointing out the serious commitment you will be buying into and the hard work that it entails.

Some of these rules apply whether you are able attend the Expo or not. The Franchise Category will give you more food thought before you sign any deals.

Source: www.fasa.co.za