Vera Valasis, FASA’s executive director has applauded the franchisors and franchisees that entered the awards, despite the tough economic conditions. “It is natural, that in good times, franchisors are eager to feature their phenomenal growth but, as we have seen in these tough times, many franchisors chose not to enter the awards.”
According to Rasheed Kathrada, FASA’s Chairman, the FASA Awards have over the years, come to represent a thriving business sector that not only contributes 11.8% to GDP but a sector that is continually innovating – casting that first stone that causes a sustained ripple effect in business and consumer trends.
“Whilst the established brands remain at the pinnacle of success, having entered and won the FASA awards time and again over the years, it is exciting to see the up-and coming brands going head-to-head to stake their claim to fame.”
A tough industry
In these trying economic times, it is testament to franchising’s solid reputation that most reputable franchise brands have managed to maintain their performance – a fact that is reflected particularly in the record number of entries received in this year’s Franchisee of the Year category. The industry as a whole is showing remarkable resilience in maintaining an encouraging net growth in the number of franchise systems and franchised outlets, as well as the number of people that it employs.
As funders, both commercial and developmental, realise the danger of a business being too highly geared and as a result look for higher own-cash contributions, funding of new franchise businesses remains an obstacle to growth.
The 2011 FASA Awards for Excellence finalists are:
FRANCHISOR OF THE YEAR
FRANCHISEE OF THE YEAR
Steven Dally of DoRego’s, Johannesburg CBD
Retha Veldman of Tina Cowley Reading Centre, Muckleneuk, Pretoria
Masurick van der Walt of Tina Cowley Reading Centre, Villeria, Pretoria
Marietjie Taljaard of Tina Cowley Reading Centre, Brackenfell, Western Cape
Rene Theunissen of Tina Cowley Reading Centre, Durbanville, Western Cape
FRANCHISOR: LEADING DEVELOPER OF EMERGING ENTREPRENEURS
Hot Dog Cafe
The Coffee Stop
The Courier Guy
NEWCOMER FRANCHISOR OF THE YEAR
The Coffee Stop
BRAND BUILDER OF THE YEAR
Boost Juice Bars