Franchise opportunity for new Moyo restaurant on iconic Soweto site

According to Standard Bank, the franchise sector currently contributes nearly 10% towards South Africa’s Gross Domestic Product (GDP). Urban African dining restaurant, Moyo, joined this dynamic sector and made a robust comeback, under the direction of Fournews, while emerging from a business rescue plan implemented in 2013. Lynette Balie, Marketing and Sales Support Specialist for Fournews, shares how aspirant franchisees can become part of the sector and announces an exciting option to operate a Moyo from an iconic site in Soweto.

The franchise sector in South Africa is defying sluggish economic conditions and will continue to provide sustainable business opportunities for entrepreneurs. More excitingly, 88% of franchise brands currently operating within the country were created and developed here. At Moyo, we have an opportunity for a passionate franchisee to operate a new store on an iconic Soweto site which is of both historic as well as traditional significance.

A franchisee gets to start their own business, but does not have to address many of the typical aspects of a start-up, such as registration or trade marking, thus avoiding many of the challenges and costs traditionally associated with starting out on your own.  If you are interested in starting your own business, but looking for a way in without necessarily starting from scratch, franchising may be for you.



Choosing the right franchise
The first step in becoming a franchisee is to choose which franchise you’d like to pursue. A franchise should fit with your schedule and lifestyle. It is a common misconception that by trading under a franchise brand name your business will do well. The Moyo brand is about tradition, people and celebration; it requires you to give it personality. Operating any restaurant, especially one as diverse as ours, involves hard work and long hours from people that are self-motivated achievers.

Impressing the franchisor
Most franchisors receive numerous calls from prospective franchisees but can only offer so many opportunities to join.  As a result, becoming a franchisee in a highly desired franchise is a competitive process.  Franchisors are looking for people who share the dream and will support the company, but are also motivated and successful.  The best thing a franchisee can do to improve his chances of being selected is to thoroughly research the company, and arrive promptly and prepared for all meetings.  This conveys the impression that the franchisee is dependable and sincerely interested in the franchise.  

Financing the franchise  
Just like any other business, a franchisee must finance the start-up costs of running a new franchise. The required finance to start up a new Moyo is estimated at R7.5 to R9 million - 50% of which must be unencumbered.

Franchisees who are interested in joining the growing Moyo tribe must meet, amongst others, the following selection criteria:

• The operator of the store has to be at least a 25% shareholder in the business 
• Have restaurant or culinary experience, as well as strong business and management experience

Engaging in a franchise relationship is one of the best ways for someone to become a business owner.  In many respects, the franchisee gets to do the fun part of being a business owner without addressing many of the challenges of starting a business. At Moyo, the marriage of the operator to the right site is a fundamental component of our success.

For more information on this franchising opportunity visit the Moyo website at www.moyo.co.za