First National Bank (FNB) will host the fifth consecutive FNB Franchise Leadership Summit where South Africa’s franchising leaders and stakeholders will meet to discuss and debate the Franchising Landscape.

There is little doubt that 2016 has had its fair share of economic challenges however the franchising industry has somehow continued to attract local and international franchise brands despite the economic woes our country faces.

Morné Cronjé, Head of FNB Franchising says, “It is essential that franchise brands stay abreast of trends that may influence consumer behaviour in their category. Consumer behaviour is changing all the time and franchisors need to tweak their business models to remain relevant.”

In the face of ever increasing globalisation and competition, it is a company’s ability to adapt and create a new and prosperous future that is key to it surviving and thriving. The global franchise environment is growing at a fast pace. South Africa will need to continuously improve the operating environment for franchisees because competitors are increasingly positioning themselves.

Cronjé adds that technology and innovative solutions remains the ultimate disrupter as these change the way consumers transact and interact with brands.  Franchisors such as Uber have demonstrated how technology has paved a way to create new markets and new platforms of doing business in South Africa.

An aggressive strategy that focuses on the franchises value adds, the customer’s needs and wants, innovative products and solutions needs to be looked at in order to capitalise on new investment opportunities. The current franchise landscape is competitive. We need to raise the profile of the industry and ensure its ability to be an effective lever of economic growth in the continent for decades to come.” concludes Cronje.

Article Written By: Themba Msimango