Qualification Name: New Venture Creation
Description:The qualification develops competencies that enable learners to identify business opportunities, develop viable business plans, apply sound business principles, and manage daily operations including marketing, finance, procurement, human resources, and compliance with relevant legislation. It also focuses on cultivating entrepreneurial thinking, promoting sustainability, and encouraging innovation within the small business environment.
Purpuse:The purpose of this qualification is to prepare a learner to function as a Franchise Manager. A Franchise Manager maintains relationships with and supports franchise partners, develops and maintains guidelines on franchisor policies and procedures and provides training, communicates promotions and other relevant information, evaluates franchisee performance and works with franchisees to continuously improve operations. A qualified learner will demonstrate the following key attributes: critical analysis, problem solving, decision making, analytical, synthesis, communication, systematic and technical
Rational:The development of this qualification was supported by the Franchise Association of South Africa. The franchise business model plays an important role within the economy and more businesses are exploring the opportunity to franchise. In South Africa, in 2017, there were approximately 630 franchise systems totalling 39 000 franchise outlets. At that point, they contributed 12.5% to the economy and provided work for 325 000 people. This tendency is bound to expand considering that only 6.5% of South Africa's SMEs were franchised, compared to 30% in developed economies in the world. Franchisees are also embedded in their local communities through their local supply chains. The sustainability of the franchise system depends largely on competent Franchise Managers at both franchisor and franchisee level. Competent Franchise Managers will thus benefit the sector, society and the economy as proper management ensures economic sustainability of the franchise.