Gauteng Business News

Send  Share  RSS  Twitter  23 Mar 2010

BUSINESS: No Better Time to Acquire a Franchise Business


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Despite the fact that over the past few years the residential real estate market has been negatively impacted to a significant degree by the recession and resultant reduced demand for homes, for entrepreneurs who wish to own their own franchise real estate business there are still good returns to be achieved for a relatively low capital outlay, says Dr Andrew Golding, CE of the Pam Golding Property group.

"The potential for sound returns and wealth creation remain positive for those who are already active in the real estate sector and have a solid knowledge of the market. And, at a time when the market appears to be coming out of the downturn and seeing the beginnings of an upturn in the economy it's a good time to take advantage of opportunities to acquire such a business," he says.

Tangible evidence of this is that the Pam Golding Property group's franchise operation has seen a number of former top-selling agents or those employed elsewhere within the group, acquire franchises which are performing successfully and have done so through challenging trading conditions. These include the franchise owners in Knysna, Grahamstown, Durban North and La Lucia areas, Plettenberg Bay, the East Rand, Hout Bay, Port Elizabeth and Riversdale in the Western Cape.

PGP currently has a number of franchise businesses which are available for acquisition, which offer the potential for sound growth. These are located in key growth areas or hubs in various regions namely KwaZulu-Natal, the Garden Route, Gauteng and Mpumalanga.

Comments Greta Daniel, sales and operations manager for Pam Golding Franchise Services: "These franchises are established businesses with a good network and larger slice of market share than competitors. With the added benefit of considerable support from a professional and well-respected brand such as PGP, which includes a huge database of clients, there is the potential for sound returns.

"While the costs of acquiring such a franchise vary and depend on location, the current infrastructure of the business and market share, the new franchisee would be acquiring a turnkey business with an established reputation and the recognised market leading brand. This is coupled with the competitive advantage of access to a tried and tested way of doing business, ongoing training in accordance with the new training qualifications and extensive marketing, IT, financial and HR support.

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