For all the time spent wishing the year-end holidays would come faster, consumers are also wishing there were more paydays between now and then, notes Richard Mukheibir, CEO of Cash Converters . “The best way to resolve this dilemma is to confront it,” he says. “Apply a two-step solution – establish your budget and shop smartly.” Even those who are number-phobic feel more relaxed after spending a short time allocating the cash they have available to different types of spend, he believes. “You will be much less stressed if you prevent too much money flying out of your pockets by remembering the basics of financial common sense,” he says. Make two lists – everything you need to spend and everything you want to spend, he suggests. The first list covers necessities such as your basic food budget, municipal bill and transport costs. The second list covers what you would like to spend on gifts, holidays, entertainment, decorations and new clothing. After adding these two totals tog

Why entrepreneurs should safeguard their businesses against cyber-crime As the world is settling in to the Fourth Industrial Revolution – a technology-driven landscape that increasingly blurs the physical world with the digital world, through developing arenas such as mobile connectivity, artificial intelligence, the Internet of Things and next-generation robotics – businesses are faced with a new set of digital challenges, which includes the increased prevalence and sophistication of cyber-attacks. This is according to Jeremy Lang, regional general manager at Business Partners Limited , who points to research recently released by the Cyber Intelligence Research Group which ranks South Africa as the third most exposed country to cyber-attacks. “2017 has seen an upsurge in cyber-attacks – from ransomware to phishing – and it is imperative that small business owners realise that their businesses are just as much on the radar of a cybercriminal as larger enterprises. “Although cyb

Founder Itumeleng Mpatlanyana Nkukhu Box has grown rapidly in the past year having had gone from one operating store in January to ten fully functional and operational stores by November 2017. THEN VS NOW Central Kitchen: Then: central kitchen based in Mamelodi Now: warehouse with central kitchen now based in Midrand Proccessing: Then: 150 chickens per week Now: 7 000 chickens per week Employees: Then: 5 full time warehouse employees and 5 head office team members Now: 20 warehouse employees including 2 full time truck drivers and 12 head office employees Group: Then: 16 store level employees Now: 140 store level employees Operational Stores: Then: 1 store Now: 10 fully functional stores, with 2 currently under construction New Stores: Nkukhu Box Orlando East This store has taken Orlando by storm and is quickly becoming one of Orlando’s hottest attractions, with visitors from as far afield as Holland and Germany enjoying the Nkukhu Box’s authentic gril

Stuart Oliver, Timbercity Stellenbosch Becoming a Timbercity Franchise is a lifestyle choice - you become your own boss and your staff and customers become your new family. Don’t get me wrong, being your own boss does not come without its challenges. You are answerable to yourself and that could be the worst boss to report to, however, the benefits far out way this. What can Timbercity add to your business? Firstly a very strong and well-respected brand name that has been around for years. A franchisor who actually cares about the success of your business and a Chairman of the board who will pop in for coffee to find out how things are going in your business. You will link into a network of other well-established franchise network with franchisees who will offer advice and guidance on your new endeavour. A profitable business is determined by how you buy and your bottom line will benefit from the buying power of the franchisor. With access to the best cost prices in the market

Franchising is big business in South Africa. To date, national franchise group Cash Crusaders has a family of over 200 franchises across southern Africa. The recession proof business model and close relationship the company has with its franchisees make the second-hand giant a highly sought-after business opportunity for potential franchise owners who range from entrepreneurs and retirees to couples and families. More than thirteen franchisees are women. Leandra Pietersen Leandra Pietersen became the official franchise owner of Cash Crusaders Mossel Bay in 2011 after working as a Buyer, then manager, before finally taking over the majority share of the business. Through her wealth of experience and thorough knowledge of the business, she has seen the franchise grow from strength to strength. Leandra is no stranger to franchising. She worked for many years in the automotive industry, which she admits was predominantly a man’s world. Nevertheless, she learned some valuable les

The trend for buying vintage is thriving in South Africa and it has extended into smart shoppers buying well-selected, pre-loved or used items as gifts for family and friends at a second-hand store. Choose to spend your hard-earned cash at reputable second-hand goods dealers and you should also be reassured that you are not risking an encounter with stolen goods.  “The possibility of stolen property ending up in the second-hand industry is remote because we have procedures in place in line with the Second-hand Goods Act,” says Peter Forshaw, Chief Financial Officer and founder member of Cash Converters . Industry cooperation with the South African Police Service protects customers, he says. This means reputable second-hand dealers carefully screen goods they purchase, reinforcing these well-established buying processes with electronic stock systems and close-circuit video. “Self-regulation plays an important role in our industry,” says Forshaw. “Sellers must produce identificat

Mike Vacy-Lyle Key insights from the 2017 FNB Franchising Leadership Summit South Africa’s exponential franchises took centre stage at the 6th edition of the annual FNB Franchising Leadership Summit held recently at Indaba Hotel in Fourways, Johannesburg.  Themed “exponential growth”, the Summit coincides with the world-wide commemoration of Global Entrepreneurship Week (GEW), which celebrates the remarkable contribution of entrepreneurs to the global economy. The 2017 Summit focused on unpacking four perspectives of exponential growth, namely: entrepreneurship, brand, employment and personal growth. Mike Vacy-Lyle, CEO of FNB Business, says, “The franchising sector has some great examples of businesses demonstrating exponential growth like the success story of unique local brands such as RocoMamas. The franchising sector is remarkably resilient and should be celebrated, hence we felt it was important to use Global Entrepreneurship Week to highlight the contribution of this s

Christo Botes (BUSINESS/PARTNERS) , Freddy Sibuyi of Freddy and Sons Maintenance Engineering and Ross Boyd of General Electric South Africa Mpumalanga-based entrepreneur, Freddy Sibuyi, has been crowned the national winner in the 2017 BUSINESS/PARTNERS / SME Toolkit Global Entrepreneurship Week’s Business Plan Competition for Aspiring Young Entrepreneurs – a competition that saw hundreds of young aspiring entrepreneurs attend business planning workshops aimed at equipping them with the necessary skills and tools to turn their business idea into a reality. This year the competition – aimed at individuals between the ages of 18 and 35 – received 700 entries, and over the course of five months, 18 regional workshops focused on teaching the complexities of compiling a business plan, as well as the basics of how to run a business efficiently, were held across the country. Following each workshop, individuals were encouraged to submit their business plans for judging, and from th

BACKGROUND When Robert Bosch founded the ‘Workshop for Precision Mechanics and Electrical Engineering’ in Stuttgart, Germany, in 1886, his aim was to develop high-end technologies. Through its 130-year history the company has been characterised by the innovative drive of its founder and today Robert Bosch GmbH is one of the world’s largest private industrial corporations. Automotive technology forms one of the biggest corporate divisions within the Bosch group. Bosch Service is a leader in the automotive vehicle service workshop market with more than 17,000 certified workshops in 150 countries. Robert Bosch South Africa is a regional office of the Bosch Group. THE CONCEPT  Bosch Service dealers operate as an independent network of workshops who, while able to provide the assurance associated with a household name, is also small enough to care. The Bosch Service model accommodates both the establishment of new workshops and the conversion of existing ones. It must be noted that

BACKGROUND Dynamic Bedding (Pty) Ltd is the franchisor and exclusive supplier to The Bed Shop franchise network, which was established in recognition of a market need for a dedicated channel to market in the retail bedding industry. The first franchise store was opened in Bloemfontein in 1994 and today Dynamic Bedding (Pty) Ltd is the largest specialist bed retailer in southern Africa. The philosophy envisaged by Dynamic Bedding has never changed, “To deliver a quality product, direct from the factoryto the public on a national basis, at the best possible price.” To fulfill the group’s vision, The Bed Shop franchise concept was created to provide a dedicated, nationwide distribution network. Today, with 100 franchise outlets and agencies, Dynamic Bedding is the biggest factory-to-market bedding specialist franchise in South Africa. THE CONCEPT  Every outlet has its own distinct ‘flavour’ designed around the particular needs of their specific trading environment, but what real

Photo: www.vodacom.com On 8 November 2017, Vodacom and Innovator Trust unveiled the Youth Entrepreneurship Programme (YEP), aimed at equipping local unemployed youth with the requisite set of skills to become cutting-edge entrepreneurs. The tailor-made youth entrepreneurial programme aims to drive innovations and create job opportunities that could bring significant changes to the local economy. To kick it off, Vodacom and Innovator Trust are offering 10 unemployed youth, based in Gauteng, who graduated from the Vodacom Academy Programme a spot in the programme. During the period of six months, the qualifying youth will receive business training from experienced facilitators and gain insight into business acumen. Takalani Netshitenzhe, Chief Officer: Corporate Affairs at Vodacom commented: “South Africa’s youth unemployment statistics are shooting through the roof, with the unemployment rate for under 25s at 67.4%, showing that two out of three South Africans aged 18 to 28

With its number of stores expanding by almost 15 per cent in 2017, Cash Converters ’ strong growth has it bucking the uncertain SA economy that particularly bedevils the retail sector. By the end of November, the company will have opened 11 new stores this year. Representation in Mpumalanga has doubled to four and a third store has been opened in Namibia. New stores are being added both in the company’s strongholds such as Gauteng as well as in more sparsely represented areas, such as the Garden Route and Free State, says Cash Converters CEO Richard Mukheibir. New franchisees range from Namibian TV personality and Generations star Dalton Ashikoto in Windhoek to business-school graduate Eric Nkosi in Middelburg. Two husband-and-wife teams have taken up the franchising challenge at Germiston and Kempton Park respectively on the East Rand. “We are well into the company’s expansion plan and aim to add a further 20 stores to the network in 2018 and another 20 in 2019,” says Mukheibi

BACKGROUND Chicken Xpress is a franchise designed by Africans for Africans and in the true spirit of franchising Chicken Xpress franchisees are in business for themselves, but not by themselves. Driven by their passion for building a truly African brand and with a no frills, no fuss approach, their street-smart leadership team has developed a franchise model that is truly accessible to all. Their streamlined business model with its established operational system affords franchisees the opportunity and ease of mind to become multi-unit operators. Their affordable set-up cost is geared to ensure that they achieve their objective of growing their brand footprint and establishing multiple stores in every region across South Africa. THE CONCEPT  Chicken Xpress is a truly South African brand with its values firmly grounded in the local community. They have gained a reputation for serving their ‘full-o-flava’ fried chicken in a fun, energetic and convenient setting. Applicants have a

Over the past four years the franchising sector has displayed resilience, consistently growing its contribution to the country’s Gross Domestic Product (GDP) from 9.7% in 2014 to its present contribution of 13.3% - an upward trend that is most likely to continue despite the lackluster economy. The current growth of 13.3% is broken down by the Franchise Association of South Africa (FASA) as follows: The largest franchise system is the Fast Foods and Restaurant category (25%). The Retail sector at 15% is the next biggest, followed by the Building, Office, and Home Services sector at 13%. Similar in size are Childcare, Education and Training and Automotive Products and Services (9% each), and Health, Beauty and Body Culture at 8%. The other categories are 5% and smaller. Morne Cronje, Head of Franchising at FNB Business holds the view that the growth in this sector has a great deal to do with the provision of impeccable quality service, he says “business owners cannot control wh

Chantalle Bell Many people grow up having conflicting values around money and wealth and misunderstanding how they work together. Often a person may say they want to be wealthy, but what they really want is financial freedom. It is of crucial importance to manage your money effectively, master it, and instruct it to do what you want it to do for you. You’ll start seeing how your money can work for you when your future needs become more important than your current wants. Money is what makes the world go round. Just like you have a job, your money has a job too, and it should work just as hard for you, as you have worked to earn it. Whether you’re a stay at home parent taking care of your home and family or a professional working crazy hours, having money in the bank is essential. All is possible through either investing or saving part of your hard earned cash every month. There is a clear difference between investing and saving. Saving is storing your money, while investing is g

David Morobe How to identify the need for business rescue finance vs. closing up shop In an economy that is becoming increasingly accustomed to strained trading conditions, many business owners are entering into cash flow struggles and finding themselves grappling with how to save a troubled company, or whether this is even a possibility. A struggle widely publicised recently is the bailout request of state-owned enterprise (SOE), South African Airlines (SAA), which saw the National Treasury approving R3 billion in funding at the end of September 2017 to avoid SAA defaulting on its loan to Citibank. Furthermore, in the 2017 Medium Term Budget Policy Statement (MTBPS), it was reported that SAA will receive an additional R4.8 billion by 31 March 2018 from government. David Morobe, regional general manager at Business Partners Limited (BUSINESS/PARTNERS) , says that while the SAA request has been largely criticised, a financial bailout solution is only viable provided a turnarou