Connect with us

Company Posts

BOUNCE Business Backflips Into SA

The BOUNCE business concept is springing into action as the business grows and develops from it’s launch in 2015. We catch up with Shaun and Nicolle to learn more about their start-up.

BOUNCE

Published

on

Bounce-Room-south-africa

The BOUNCE business concept is springing into action as the business grows and develops from it’s launch in 2015. We catch up with Shaun and Nicolle to learn more about their start-up.

Bounce-Founders

Shaun Strydom and Nicolle Weir have known each other for close on 20 years where they developed a strong professional bond while working together at Deloitte. Since leaving Deloitte they often joked about getting together again in some form of business opportunity and after discussing the opportunity with BOUNCE it was clear that this was the one….

Entrepreneur caught up with Shaun and Nicolle to ask them about BOUNCE INC.

Why Bounce?

Truth be told when we initially got presented the opportunity we did not fully appreciate the concept as in many respects it was foreign to ourselves and the SA market. It took many discussions and eventually a visit to one of the international BOUNCE venues where we were blown away by the concept and overall professional setup.

BOUNCE is such a unique business that offers a healthy, fun and an accessible adrenaline rush to pretty much anyone and everyone.

Ultimately, we are ourselves quite discerning when it comes to professionalism and service and as parents we are both very sensitive to identifying quality offerings for families in the market.

Following lots of due diligence into BOUNCE and other similar businesses around the world it was clear that BOUNCE was the leading Brand and organisation in this category.

Related: Hello Group’s Initial Product Failed The Night Before Launch. Today They Are An Industry Disruptor

What lessons have you learnt in the first year of Bounce?

Bounce-team

Part of what we loved about the BOUNCE Brand was our ability to recruit young and often inexperienced staff and give them opportunities to grow and develop, specifically as youth employment is a huge need in SA. We initially battled to keep up with the amount of people streaming in through our front door – you can train staff in a “classroom” environment but nothing really prepares you for those first few weeks when the public are bubbling over with excitement and all they want to do is BOUNCE.

We are very proud to say that the team has really stepped up and we continually get compliments from customers around the level of service from our staff – it’s something that we are passionate about and we will continue to keep driving a customer centric business. Our staff also have fantastic international opportunities to work at other BOUNCE venues around the world.

BOUNCE Voucher

Did you ever expect Bounce to be as well received by the South African public as it has been

It is fair to say that the build up to our opening on 12 June 2015 had its share of sleepless nights and sweaty palms.

  • What were we thinking?
  • This huge investment!
  • Our reputations?!
  • A new Brand and a totally new concept and the first of its kind in Africa!
  • Would this work?

On the day that we opened, our doors were almost pushed over with kids and families streaming into bounce. It was, to say the least, a very emotional and humbling moment.

We never expected the Brand and response from SA to be so overwhelming and it continues to grow as people from all over SA are calling for BOUNCE to come to their city or area – we are very grateful for this, as ultimately, this business is for all South African’s. Continuing to deliver on the BOUNCE experience and staying ahead in the market is what gets us out of bed every day.

Related: How Merchant Capital And Retroviral Were Built To Sell

Where to from here…Launching Menlyn Maine and Fourways. What is your vision for the company?

Bounce-trampoline

We will be launching 2 more venues in Gauteng this year – one in Johannesburg and the other one in Pretoria area. These venues will include some new innovations and surprises for our customers. Our plan is to open a BOUNCE in all major cities in SA as part of our initial rollout plan including KZN, Cape Town, Port Elizabeth, Bloemfontein, Polokwane, Mpumalanga which are already in motion.

There are a lot of competing trampoline parks that are emerging now, how do you feel about this?

It is great to see the market being opened up following our launch and believe this will assist in stimulating and educating the market on the many benefits of Trampolining.

Our primary concern however with other operators is that they are not necessarily following the world’s leading safety standards in terms of design, equipment, safety padding and training of staff. This could have a negative outcome for a new growing industry if profit is put ahead of safety.

It is for this reason that we welcome the fact that the South African Gymnastics Federation is busy implementing a South African Trampoline Parks Association whereby membership will be based on meeting stringent safety standards. They are looking to adopt the Australian Trampoline Park Association (ATPA) Standards which are considered the most stringent in the world. We are obviously very excited by this move as BOUNCE already complies with these strict standards in every aspect from design, equipment, padding, operations and training of staff. Furthermore we are very proud of our first year safety record which is well below the ATPA average rate of 2 significant injuries per 10 000 jumpers.

We will work towards educating our customers to ensure they appreciate the importance of a trampoline park that meets strict safety standards and it will also give us the opportunity to differentiate ourselves from our competitors in the market.

Who is your target market?

Bounce-target-market

The best part about BOUNCE is it doesn’t matter if you’re under 5 or an action sports junkie in training – you’re never too old or too young to have an awesome time.

The benefits of Trampolining are universal and therefore our target market is very broad although we have specific programs designed for each customer segment and age category.

BOUNCE is packed with lots of things to do with kids and the family; it takes the rush of getting airborne and adds a bunch of new dimensions – from aerial maneuvers to slam dunking, wall running and dodgeball warfare.

Related: Silulo Ulutho Technologies Tackles Tech Target Market

What are some of the unexpected challenges of running this sort of business?

One of the biggest initial challenges in bringing BOUNCE to South Africa was finding the right premises in the ideal node at a price that makes commercial sense. You need a landlord to take a risk on a new concept and new Brand and a very large space.

Subsequent to opening our doors and as the BOUNCE Brand has gained popularity within South Africa, property is no longer a challenge however the challenge now is not chasing every opportunity but to be discerning about where and how many BOUNCE venues we roll out within South Africa.

We believe the greatest on-going challenge will be ensuring our staff remain at the top of their game and are well trained both from a safety and a customer service perspective. We believe that this will be the secret to differentiating us from our competitors along with our innovative new offerings that we will be introducing into our new venues.

See more on BOUNCE on the website: www.bounceinc.co.za.

For corporate group bookings contact richard@bounceinc.co.za and jade@bounceinc.co.za.

BOUNCE is a world where the wall becomes the floor, a slam-dunk is within your grasp and the rules of gravity no longer apply. It’s packed with lots of things to do with kids and the family, it takes the rush of getting airborne and adds a bunch of new dimensions – from aerial manoeuvres to slam dunking, wall running and dodgeball warfare. The best part is it doesn’t matter if you’re under 5 or an action sports junkie in training – you’re never too old or too young to have an awesome time.

Advertisement
Comments

Company Posts

South Africa Seeks Innovative Solutions to Payments Systems

How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

Harald Merckel

Published

on

fintech-market-cross

News has been circulating that high-level players in South Africa are working hard to introduce structural changes in payments solutions. Some of the biggest players in the industry, including the Payments Association of South Africa, and BankservAfrica have begun work in earnest on facilitating expedited transactions settlements, by adding new payments systems and features into the market.

Financial technology, a.k.a. FinTech is powering the payments gateway to cost-effective solutions for South African businesses, consumers, domestic and international stakeholders. According to industry pundits, the payment system that currently exists in South Africa was formulated in the 1980s. At the time, it was highly regarded by world standards. However, the rampant innovation that has taken place with the Internet of things since then necessitates updating.

Various solutions have been touted, to rethink the infrastructure framework that currently exists in South Africa. The economy is rapidly changing, and mobile technology is being embraced across the board. The South African payments system is long overdue for an upgrade, as shifting priorities and the widespread digitisation of the economy take place. For starters, payments solutions across South Africa must factor in the large underbanked and unbanked sectors of society.

Related: 6 Lessons The Founders Of iKhokha Used To Launch An African Fintech Start-up

A key industry player, Bankserv which is owned and operated by Standard Bank, ABSA, and Nedbank among others is ringing the changes. Back in 2017, this financial entity processed R188.2 billion worth of ATM transactions. The total number of transactions numbered 452.6 million additionally. It processed 52.5 billion POS transactions valued at R290.9 billion in credit card authorizations in the same year. Electronic funds transfers (EFTs) to the value of R9.4 trillion were also processed by Bankserv. These are significant figures, and they point to a shift in financial transactions processing in South Africa.

Groundbreaking POS Systems to Debut in SA

The widespread innovation currently taking place in POS systems is reshaping retail industry, the food and beverage service, and other merchant networks across the board. One of the industry leaders in this regard is revel systems POS. It is fully integrated with a robust selection of features, the likes of which include superior reporting features, full kiosk functionality, and a modern kitchen display system for the thriving restaurant industry in South Africa. The technology was created back in 2010 by Chris Ciabarra and Lisa Falzone as an innovative Apple iPad point-of-sale system. It was tested in the San Francisco Bay Area and became an instant hit.

Today, the Revel POS system sports 25,000+ terminals around the world, at high profile company such as Cinnabon, Goodwill, Smoothie King and others. South African restaurants and food industry businesses can enjoy monthly subscription fees, and the software license is included in the monthly subscription fee. Flexible pricing is another advantage of using this POS system. Plus, users get to enjoy industry-specific software and integrations that can be used by quick service businesses and restaurants.

It’s ideally suited to businesses that have 500,000 SKUs, although it’s equally adept at serving smaller SA businesses. In terms of ease-of-use, this POS is intuitive for front-end use, and training videos facilitate backend learning and integration. The backend management is particularly effective in terms of training regimens, navigation, and utilisation. All that’s required to get started is an Apple iOS device, and any standard barcode scanner is fully compatible with the system.

Related: How Fintech Zoona Is Solving Customers’ Real Problems

Among the many features include the following:

  • Fully Functional point-of-sale systems
  • Real-Time Inventory control of SKUs, including cost considerations, pricing, inventory, size, colour, style etc. Digital menu boards, kitchen display systems, and kiosk point-of-sale systems are also available
  • Purchase Order Management and QuickBooks integration
  • Customer Management in terms of purchases, details and personal data is also available.

What Are the Current FinTech Challenges in South Africa?

Contrary to widespread belief, South Africa has one of the most sophisticated payments infrastructures. This is certainly a feather in the cap for South Africa’s financial and FinTech sector. Given that Internet usage is widespread, and the telecom network that facilitates Internet functionality is highly developed, South Africa ranks on par with the best of them.

There are effectively 2 parallel economies operating in South Africa – the first world developed FinTech economy, and the informal economy which dominates the outlying areas. South Africa has a challenge on its hands: How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

Continue Reading

Company Posts

Investing In Value Creation Tools Can Help Your Business Grow

ACCA on attracting new clients, establishing and strengthening commercial partnerships and accessing external finance to help your business expand.

ACCA

Published

on

By

acca-business-tools

The business journey of many SMEs is often characterised by a gradual change in internal management practices which develop as the business operations grow. The subsequent recognition of the business’s value creation, across all its operations – tends to emerge slowly but surely alongside this process.

Gaining an understanding of ongoing value creation can be challenging. This is because smaller companies tend to not have access to simple and understandable data sets on everything, which is and isn’t contributing to value across the business.

For example, customer and supplier relationships, human capital and intellectual property are all common examples of activities where SMEs regularly experience difficulties in determining the real contribution to the businesses’ overall value. These are areas that are not picked up by financial reports that are a focal point of many growing businesses, hence the importance of these areas in business is not given the proper attention it deserves.

Related: Achieving Business Success: How Walter Muwandi Gained The Edge

However, by improving trust and relationships between customers and those along your supply chain, this information can be used to attract new clients, establish and strengthen commercial partnerships and access external finance to help your business expand.

Key actions to consider when capturing the value within your business include the following:

  1. Use cloud and data analytics technology to support growth;
  2. Create a business strategy which incorporates everything;
  3. Allow staff to use new technologies to innovate; and
  4. Appreciate the importance of technology in attracting external finance.

These actions will help you succeed in developing a successful business strategy.

Use cloud and data analytics technology to support growth

Purchasing relevant software packages could help you access the data you need to understand where and when value is being created. Cloud and data analytics technology can provide a real-time flow of information, offering detailed measures across workflows, whilst also complementing existing reporting processes.

More long term, this technology can provide you with greater flexibility when anticipating future periods of growth.

For example, when the time comes to up-scale your business operations, it could help your finance function adapt more easily to any additional demands being placed upon it and mitigate the risk of disruption towards ongoing operations.

At the same time investing in this technology doesn’t have to happen overnight. Software packages can be purchased in stages and tailored to meet the specific needs of your business.

Create a business strategy which incorporates everything

Business success will often be determined by how effectively you can combine the value of ongoing operations into the development of a single, overarching business strategy. Understanding of the key strategic themes by employees is critical in aiding future business expansion plans and growth. This integration can support planning processes.

By taking a short, medium and long-term view on how value creation might change across the business, you will be in a much better place to identify upcoming risks and opportunities related to your growth ambitions.

The practical delivery of this might involve regular integrated reporting across your business’s operations. The more data that is involved in this process, the more helpful it will be towards informing your management decisions.

Allow work teams to use new technologies to innovate

Companies might also want to consider supporting work teams in certain areas to come up with new ideas to enhance plans for business growth and learn from possible failures, without the personal risks that entrepreneurship entails.

Allowing employees to use new technologies could help to reduce costs and offer new revenue opportunities as your business expands. It could also help to stimulate a high growth business and to fully communicate business’s value to potential clients and commercial partners.

Related: The Rise Of Digital In Shaping Business Terrains

Appreciate the importance of technology in attracting external finance

Investing in technology at an early stage can help attract external investors, as well as reducing the cost of raising growth finance. Such investors need to be able to understand the broader strategy of your business.

Lenders are increasingly using data to build up a broad perspective on the growth potential of SMEs. If you can provide real-time information – rather than just historical data – of your business’s performance, this could greatly increase the chances of obtaining the finance you need to grow.

However, there remains a gap and potential to co-create new approaches of raising capital amongst growing businesses and in creating agreed terms of sharing risks. This could bolster the advancement of entrepreneurial houses toward creating real economic equity in long term.

Continue Reading

Accounting & Payroll

Save Your SME Money With A Good Payroll Management System

Not only does an efficient payroll system enhance staff morale and boosts your reputation, it can also save your business significant costs.

Sage

Published

on

By

saving-money

Payroll solutions are designed to help hone the strategic focus of your business’ HR department, by shifting HR and payroll managers’ from paperwork to developing and motivating employees.

“The biggest potential saving comes from full compliance with tax and labour laws and regulations,” says Ania Strydom, Compliance Specialist at Sage. “Avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.”

Here are her tips for conducting payroll, saving money on a good system, and pitfalls to avoid that most SMEs don’t see coming:

Choosing a viable payroll management solution

  • Look for a scalable product that can grow alongside the business
  • Find a solution with full local support that is kept up to date with relevant labour and tax laws for the markets where the business operates
  • Make sure the vendor has a proven track record and local reference sites
  • Ensure that the solution is built on flexible modern technology that accommodates today’s trends — mobility and the cloud, for example
  • Consider a solution with integrated employee self-service functionality.

Related: Brand And Marketing: Finding The Balance For SMEs

Vital considerations when conducting payroll

  • Ensure that the payroll department consists of people with a good knowledge of payroll and the required skills set to ensure success and compliance with payroll
  • Instil a payroll environment that does not need regular review
  • Conduct regular payroll compliance audits to ensure compliance minimises the risk of exposure.

How a good payroll management system actually save you money

  • Using automated payroll software with employee self-service functions can help organisations save time as it diminishes the need for manual data capture, calculations, reporting or returns
  • Rest easy knowing that automation reduces the possibility of human error, allowing businesses to focus on strategy, customers, and employee engagement rather than on red tape
  • Payroll can help businesses understand how employees are contributing to profitability, what resources are needed, the cost for major projects, and identifying gaps or surpluses in their human capacity
  • The risks of payroll fraud and incorrect payments are reduced by giving managers better visibility into transactions, providing an audit trail, and providing a set of controls, checks and balances
  • The biggest potential saving comes from full compliance with tax and labour laws and regulations – avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.

Related: SME Leaders: How You Can Manage Growth

Avoid payroll errors SMEs typically make

  • The use of manual solutions due to tight budgets. They should instead, look at affordable, cloud-based solutions that are priced per payslip per month instead
  • Failing to enforce separation of duties. Different people should have responsibility for capturing payroll data and for managing access to the system as well as adding and removing employees from the payroll. Another person checking that the numbers add up could reduce risks of fraud and error
  • Not keeping abreast of changes to tax and labour laws such as the Employment Tax Incentive.

Continue Reading

Trending