The importance of understanding your USP in business Jan de Beer A USP, better known as a Unique Selling Proposition, is a common term that is frequently used in marketing speak. Known as the factor presented by a seller as the defining element in a product or service that sets it apart from competitors, a USP is an important aspect to consider when positioning a brand to a customer. Managing Executive of The Fish & Chip Co, Jan de Beer, believes that a good understanding of your USP is vital in ensuring the business stays ahead of its competitors. Here’s how. There are a variety of factors that contribute to defining a USP. If the business is focused on a specific product, the USP could be based on the characteristics of the product, or perhaps its packaging and price. A service could be differentiated by price and its added benefits, for instance. These elements are then changed in a way that gives the business an upper hand over its competitors. But what if you don’t k

The effects of unchanged interest rates on the Franchise Industry How to manage your franchise effectively during this period Last week, the South African Reserve Bank’s (SARB) Monetary Policy Committee announced that the prime lending rate would remain unchanged at 9.25% through the festive season. Consumers and businesses have been under a lot of pressure in recent months with the rising electricity rates and inflation in general.  Morne Cronje, Head of FNB Franchise says, “Unchanged interest rates will give franchisees an opportunity to review, manage their cash flow and plan their business needs more effectively.” He adds that “decreasing debts during the current economic climate should be a main aspect for both consumers and business.” The SARB’s decision to keep rates on hold provides only a temporary reprieve for South African consumers and franchisees alike. The survival of the business sector largely depends on the strength of the economy, and factors like job growt

Restaurant trade gears up for a bumper month in December December is a critical month for the hospitality industry and restaurateurs need to be prepared to make it their most successful month of their calendar year.  In the current economic climate, boosted profits from festive season diners are often needed to provide a buffer in the notoriously quiet months of January and February. Maxi’s Marketing Manager Yolandi Ferreira takes a look at the preparations necessary to attract and properly entertain a bumper crowd at this time of the year. It’s all about good planning and preparation and this should take place months in advance. The most important objective is to attract and maintain customer loyalty in every other month of the year, so that when December comes around, your restaurant is a natural choice for customers to bring their clients, friends and families for an end of year feast. Remember that the holiday season is also a time when people are willing to try out new plac

Effective marketing is a balance between pro-active and re-active thinking Pertunia Tsotetsi Key to the success of The Fish & Chip Co.’s marketing activities is creating a working strategy that meets customers’ needs, grows profits, strengthens brand loyalty and creates solutions within the communities in which the franchises operate. These activities can only be achieved if the communications team works together to continuously evolve the ways in which they communicate to customers. So says Pertunia Tsotetsi, newly appointed Marketing Manager at The Fish & Chip Co, a successful local brand that brings old England's national food of batter-fried fish and fries to South African consumers. She shares more insights. As a starting point to securing success in the marketing sphere, marketers need to hone their skills on a continuous basis, all while exploring different ways of communicating with their target markets. The traditional way of marketing is becoming obsolete

First four Domino’s Pizza’s stores record unprecedented sales Amidst much excitement and lengthy queues, the first four Domino’s Pizza stores were officially opened in South Africa in Johannesburg, Durban and Cape Town at the end of October. Domino’s Pizza is considered the world’s largest and most established international pizza delivery brand with over 10,800 corporate and franchised outlets in over 70 countries. Taste Holdings Limited has the exclusive Master Franchise Agreement to develop the international Domino’s Pizza brand in South African and in another eight Southern African countries. “We’ve been overwhelmed by the enormously positive customer feedback on our fresh hand-tossed pizza,” says Jay Currie, CEO of Taste Holdings: Food Division. “A number of sales records were broken in the first full week of trade, with sales in all four stores more than exceeding our expectations. The largest of the four stores served up more than 5 000 pizzas in its first week of operati

Maxi’s 21st anniversary has been a year to remember Maxi’s 21st anniversary as one of South Africa’s most loved family food restaurants has been a year to remember and a real milestone on the journey to building a restaurant chain that not only delivers a first class food experience, but also offers meaningful career and investment opportunities and gives back to the community throughout the year. A fiercely contested internal competition saw Maxi’s Mokopane being awarded the Best Maxi’s Restaurant in South Africa award for the third year running, based on operational and customer service results. The judging process involved store assessments (including hygiene, front and back house operations, food quality and service); mystery shoppers who visited the restaurants and evaluated service and quality; waitron evaluations; management and advertising royalty; local store marketing; health inspections and training attendance. Maxi’s support of community charities reached an all-time

The changing franchise landscape Businesses are increasingly looking at Africa’s fast-growing cities for long-term growth and development. Being innovative, adaptable and nimble- business, both big and small are ideally positioned to capitalise on the rise of the African consumer. The African consumer is becoming brand conscious and brand loyal.  According to Vijay Mahajan, author of Africa Rising .. .‘Africa has more than 900 million consumers. Despite the challenges, every day they need to eat. They need clean water. They need shelter, clothing, and medicine. They want cell phones, bicycles, computers, automobiles, and education for their children. Businesses are already seizing these opportunities to build markets across Africa.’ The continent still suffers from the misconception that it’s a difficult place to conduct business. Arguably, the franchise industry has been instrumental in building confidence in the African market and contributing to economic growth. Home to a ric

Standard Bank Incubator programme to stimulate growth of SA franchises In a bid to assist local entrepreneurs to take a step into the world of franchising while benefiting from hands-on experience from leading franchising experts, Standard Bank and Franchising Plus have collaborated to launch a unique ‘Franchising Incubator’ programme.  The objective of the programme is to assist these businesses to develop a sound strategy for expansion, using franchising as the mechanism to do so. The first step in this process is to ensure that the fundamentals of the business are correct before the business can be replicated. Once the fundamentals are correct we then have a proven blueprint for successful replication which would lead to employment creation, entrepreneurship and business sustainability. Simone Cooper, Head of Enterprise Development and Franchising at Standard Bank, says when it comes to the creation of local franchisors, South Africa lags behind when compared to the rest of t

PROMOTE YOUR BUSINESS Understanding the needs and desires of your specific target market is the secret to true business success. By Pieter Scholtz Many years ago, when we were still well and truly in the industrial age, manufacturers thought all they had to do was produce a great product and it would sell itself. That was before they knew about marketing and promotions; they had yet to discover that true business success occurs when you understand the needs and desires of your specific target market. Business leaders then realised that if they were to identify what it was people needed, and concentrated on producing exactly that, they would have a ready market. But even doing this did not guarantee them overnight success, with consumers falling over each other to buy their product. Why? Because if the consumers didn't know the product was available and if they didn't know where to get it, how could they clamour for it? The business leaders eventually realised that the

The customer will always remember how you made them feel Maria Stathoulis It was the late Maya Angelou who once said, “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” While this quote is applicable in everyday life, perhaps is it something that more business owners need to start living by, especially when it comes to their customers. Maria Stathoulis, the new owner of the Sandwich Baron Sandton store , believes that success needs to go hand-in-hand with customer service, because how you make your customers feel will determine how loyal they are to your business.  Success is not ensured in any venture. You can have the best product or service, but if you do not invest in physically obtaining your success, all your efforts will be fruitless. Securing success itself starts with ensuring the loyalty and trust of your customers, because without their buy-in and support, your products will be unused and service

Maxi’s 21st anniversary has been a year to remember Maxi’s 21st anniversary as one of South Africa’s most loved family food restaurants has been a year to remember and a real milestone on the journey to building a restaurant chain that not only delivers a first class food experience, but also offers meaningful career and investment opportunities and gives back to the community throughout the year. A fiercely contested internal competition saw Maxi’s Mokopane being awarded the Best Maxi’s Restaurant in South Africa award for the third year running, based on operational and customer service results. The judging process involved store assessments (including hygiene, front and back house operations, food quality and service); mystery shoppers who visited the restaurants and evaluated service and quality; waitron evaluations; management and advertising royalty; local store marketing; health inspections and training attendance. Maxi’s support of community charities reached an all-ti