- Interested in buying a franchise? Learn from this guy (owner of 100 KFCs)
Many would-be entrepreneurs find the idea of franchising alluring.
Someone with a proven business concept creates a system and that can be sold to - and replicated by - multiple individuals.
Sounds great, but sometimes things go wrong.
Whitfield gave Nkukhubox (the franchisor) Managing Director Itumeleng Mpatlanyana a chance to respond to Steyn.
Whitfield also asked Phitidis to weigh in and to talk about franchising in general.
For more detail; listen to the interviews in the audio below (and/or scroll down for quotes from it).
I bought a franchise from Nkukhubox about a year ago. I paid the full amount of R741 200, and I never received a store. They just started avoiding us, never signed contracts and refused to refund us. We’ve exhausted all our funds with lawyers and we’re desperate for some help. They refuse to settle.— Alicia Steyn
Yes, we did receive the money… The contractor we initially had – Global Container Project – we paid them for three containers… he disappeared on us… that’s what caused the delay… In April Alicia’s store was 90% complete… that’s when we received a lawyer’s letter from her stating they’re cancelling the agreement…— Itumeleng Mpatlanyana, Nkukhubox
I dispute the assertion that we’re not communicating.— Itumeleng Mpatlanyana, Nkukhubox
When Alicia cancelled the contract we sent her a settlement offer… She refused…— Itumeleng Mpatlanyana, Nkukhubox
It sounds to me that he has been overambitious in how he went to market.— Pavlo Phitids, Aurik Business Accelerator
Don’t believe anything a franchisor tells you!— Pavlo Phitids, Aurik Business Accelerator
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
The Money Show’s Bruce Whitfield interviews Finfind CEO Darlene Menzies for his weekly small business feature.
The Money Show’s Bruce Whitfield interviews NicHarry founder Nic Haralambous for his weekly small business feature.
It’s time to start thinking about how to keep your business relevant next year, says small business guru Pavlo Phitidis.
Sumitra Nydoo (on The Money Show) interviews KFC franchisee Kuben Naidoo.
We interview the Chairman of the Franchise Association of South Africa about the ins and outs of franchises.
702 Afternoon Drive host Stephen Grootes's comment involves past dealings that involve EFF national chair, Advocate Dali Mpofu.
Harsher punitive tariffs on the cards as 'Day Zero' becomes a reality as the result of 60% of Capetonians who ignore water limits.
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.
Stephen Grootes says he believes former Eskom CEO Brian Dames when said he was not formally introduced to the Gupta family.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.