Guiding entrepreneurs to success through franchising : a case study of Midas in Durban.
Singh, Shikar Sanjith.
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The decline of employment globally with various countries and economies either in recession, post recession or on the brink of recession is a serious concern to governments, the private sector, civic organizations and the general population. Associated with this decline are dynamics of poverty, food insecurity, maladministration and corruption, civil war, and a new world order. Governments are now looking to implement and support successful solutions that have been tried and tested. It has been identified that franchising is successful solution that is on the increase globally. Franchising is a multibillion dollar revenue creator globally and accounts significantly for employment. The automotive sector is growing at an unprecedented rate with the greater number of motor cycles, cars, taxis, busses and trucks on the road. The Midas franchise is the second fastest growing franchise in South Africa. There are more than two hundred and twenty franchises in South Africa and surrounding countries. The aim of this research study is to investigate if franchising provides entrepreneurs, especially new business owners a more secure business start up, and to assess the success of the Midas franchise. The research methodology adopted in this study adopts a qualitative research method. The instruments used to obtain data are questionnaires, face to face interviews, observation and photography. The study area encompasses franchisees from the eThekwini Municipal area. Six Midas franchisees and the KZN regional Midas franchisor have been interviewed. The findings have proven to be remarkable, supporting the hypothesis which states that franchising is a successful tool to assist entrepreneurs. Most entrepreneurs have citied their contentment with being with a franchisee and their optimism to venture into more franchises. The franchisor boasted their rapid expansion in South Africa. There were also recommendations arising out of the study so as to enhance entrepreneurship and franchising in South Africa.