Owning a franchise is likened to being in business for yourself, but not by yourself. It’s one of the reasons it’s such a popular business format and why the industry is so resilient even in tough economic times.
But gathering the necessary finance can be a problem for this initially capital intensive model, which is why Kagiso Enterprises Rural Private Equity Fund (KERPEF) – a subsidiary of Kagiso Trust – launched a R10 million franchise fund designed to help black franchisees get into business.
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The start you need
“We launched the fund with the aim of creating 100 jobs, specifically targeting black youth and women, as well as increasing the participation of black entrepreneurs in franchise business opportunities,” explains Mohlolo Selala, a senior manager at KERPEF.
The fund has already exceeded its target, creating more than 130 job opportunities with black entrepreneurs owning or being mentored to run businesses to date.
To find out more about the fund, visit http://kagiso.co.za/projects/kerpef