#SA Franchise Friday featuring FICS, objective quantum & merit investigations

BACKGROUND
FICS is a newly established group of companies for the forensic, legal, government, insurance and corporate markets, offering South Africa’s first specialised investigations franchise opportunity. The company is in a strong expansion phase with 145 demarcated franchise areas available to appropriately qualified and experienced applicants.

Franchisees enjoy a steady income stream doing paralegal and investigative work on behalf of law firms and corporations, especially in the unclaimed benefit industry. Passive income can also be generated from post-accident data capturing via the FICS app, which enables franchisees to shorten turnaround times and deliver quantifiable data for the processing of claims.

THE CONCEPT 
FICS performs investigations for and on behalf of insurance companies, law firms, corporations and other service providers. The opportunities created by the head office are shared amongst the franchise network but franchisees are also required to generate work from stakeholders in their allocated geographical areas.

FICS provides quick and cost-effective, fee-based, value-adding investigative services to professional firms, corporations, government and parastatals. FICS services include Merit Investigations, Quantum Investigations and Specialised Investigations.

Merit Investigations entail examining all aspects of a case (i.e. a motor vehicle accident), usually shortly after the event occurred. Quantum Investigations probe the amount of money payable to claimants and/or dependents of a deceased person. Key factors in the investigation include employment and earnings of the claimant and/or deceased, and verifying the authenticity of the dependants of a deceased worker.

FICS franchises focus mainly on the Road Accident Fund environment and undertake Specialised Investigations countrywide, serving the parastatal and corporate sectors. There is a tremendous need for specialised FICS investigation services which include probing suspicious and fatal claims, tracings unclaimed retirement benefits, workman compensation claims, payroll audits, and obtaining statements from injured employees.

FRANCHISOR SUPPORT
FICS Head Office provides ongoing support to franchisees on a national basis. Once an applicant has been accepted into the FICS ‘family’, a week-long training programme is scheduled which, amongst other FICS structures and functions, includes services, market income streams, investigation types, the IT system, fee structures, marketing, management and assessor profiles. Exposing franchisees to the theoretical and practical aspects of running a franchise ensures that franchises are functional from day one. The franchisor also provides franchisees with ongoing national and regional marketing support.

FRANCHISEE PROFILE
Franchisees will preferably have a background in law, accounting or investigations. FICS franchisees need marketing, investigative, reporting, verifying, management and networking skills. A franchise owner must be able to generate local work as well as perform national contract work in the demarcated area.

SNAPSHOT
HISTORY
Founder: Gerhardt Becker
Year founded: 2015
Area of origin: Centurion, Gauteng
CEO: Gerhardt Becker

NETWORK
1st SA franchise opened: 2017
Number of SA outlets: 7

FRANCHISE AGREEMENT
Management fee: 7% of gross turnover
Marketing fee: 3% of gross turnover
Agreement term: 10 Years
Renewal term: 10 Years

FINANCIALS
* Amounts quoted are VAT exclusive
Establishment cost: None
Franchise joining fee: R290 000
Working capital required: R150 000
TOTAL average set-up cost: R440 000
Average monthly turnover: R130 000
Achievable gross margins: 38.5%

WANT TO KNOW MORE?
Contact Chris Booysens on 0861 12 FICS  or  chris@fics.co.za
www.fics.co.za