A new initiative is being launched in South Africa to develop 35 micro-franchising businesses in a way that is accessible to the disadvantaged.
Update: Jonathan Jansen will be the opening speaker. In addition, Sean DeWitt with Grameen Bank (developing cellphone software applications for microfranchises for the past 5 years), Madison Ayers (HoneyCare in Kenya), Jason Fairbourne (Microfranchising books) and Danny Manseh (HealthKeepers in Ghana) are all confirmed to be attending. July 13, 2011
The challenge is to build a massive job creation machine to reduce high rates of unemployment at the bottom of the economic pyramid. Studies done by the Global Entrepreneurship Monitor (GEM) show that South Africa’s business failure rate is far higher than in other countries in Sub-Saharan Africa. Franchising has been the most successful business model ever created. MicroFranchising is a natural development in that it systematises, brands and replicates tiny businesses, which can be funded through micro-finance and enterprise developing funding. It effectively permits a person to buy a job.
The Launch Event
The MicroFranchising Launch aims to create an ecosystem of sustainable micro-businesses that are accessible to the disadvantaged to buy and operate. Investing the capabilities of people is central to long-term growth and the creating of jobs. The Launch will focus on 35 businesses that can be franchised at a cost about equal a micro-loan, making them available to the disadvantaged.
Event cost: R 1500 (≈ £140, subject to exchange rates)
For more details and to book, contact the event manager Jayshree Padayatchey ([email protected])
Learn more about what micro-franchising is, what’s working and what’s not from the Franchising In Frontier Markets report from Templeton.