Sanlam confirms its sponsorship of FASA’s franchise surveys - renewing its confidence in the franchise sector
Sanlam has, for the fifth year, confirmed its sponsorship of the Franchise Association of South Africa (FASA)’s Franchise Surveys. The surveys are an important barometer that track the success of this unique business system which in the latest survey shows an estimated turnover of R721 billion equivalent to 15,7% of the total country’s GDP. Its 865 franchise systems support over 45 000 outlets operated by franchisees who in turn employ 369 573 people.
This contribution to the South African economy by the franchise sector has continued on an upward trajectory in spite of adverse economic conditions, socio-political factors and often challenging business regulations.
The Franchise Association of South Africa (FASA), which has represented the sector for the past forty years, welcomes the forward-thinking intentions of President Cyril Ramaphosa and Finance Minister Tito Mboweni who promise a ‘new dawn’ for the country, with the need for strong public/private partnerships’.
President Ramaphosa’s comment that ‘we should treat our entrepreneurs as heroes and stop treating our business people as enemies’ is welcomed and appreciated by the thousands of entrepreneurs and businesses that make up the backbone of our country, says Vera Valasis, Executive Director of FASA. “As a sector that is often overlooked as we operate universally over all sectors, we have, since those first franchises established themselves in the 1960’s, continued through the good and bad times to innovate and establish new businesses, develop skills and above all contribute to job creation. The fact that over 80% of our franchise brands are home-grown is testament to our commitment to growing the economy for the benefit of all its people.”
Sanlam, which offer financial services geared at helping sustainable businesses through surety protection, continuity cover, income protection cover and investment solutions, have a vested interest in ensuring that businesses and franchises continue to grow and prosper. “Our role as financial service providers is to give businesses the necessary financial tools to ensure that they operate sustainably to succeed” says Kobus Engelbrecht, Marketing Head: Sanlam Business Market. “The franchise sector has proved, through its stellar growth over decades that it is one of the most dynamic business formats of our time and we are proud to be able to play a part in tracking their success.”
Says Vera Valasis, Executive Director of FASA, “Sanlam’s brand has become synonymous with the annual franchise survey and without the company’s absolute belief in the economic contribution brought by entrepreneurs much less would be known about the incredible role franchising plays in job creation, skills development and enabling financial freedom for many a successful franchisor and franchisee. We thank Sanlam for their contribution and commitment to improving the credibility of franchising as a successful business model.”
The Sanlam/FASA Franchisor Survey tracks the industry performance of Franchisors and the Franchisee Survey looks at the satisfaction levels of the franchisees that operate within those brands. Survey results can be viewed on https://www.fasa.co.za/survey.php