2nd Take low cost Franchise Overview
2nd Take Franchise key points
1. 2nd Take Fashion Franchise Background
2. Franchisee Requirements
3. 2nd Take Franchise Advantages
4. 2nd Take Franchise costs
4.2 Set up costs
4.3 Franchise fees
5. The Application process
1. 2nd Take Franchise Background
2nd Take is a high-end second-hand clothing Franchise consignment store group, specialising in international designer brands from Armani to Zara. We opened our doors in June 2010 and offer exclusive international labels at a fraction of the retail price. 2nd Take is now available as Franchise Opportunity in South Africa and we are working on a social Franchise option, which will empower women in Township areas and help with job creation.
2nd Take is a member of the Franchise Association of South Africa, FASA and the Cape Chamber of Commerce. It has been an excellent experience for 2nd Take to work with FASA, to ensure that our Franchise offering is 100% aligned with best practices and legal requirements.
2nd Take has boutique shops in Cape Town and Pretoria, as well as a convenient online store. Many of our labels are not available for purchase in South Africa. We offer clothing for women and men.
Doing business is tough in the current economic climate, but we managed to grow and increase our turnover. We believe that is due to the fact, that 2nd Take is based on a real win-win business concept. We offer a great value proposition to our customers and our business concept capitalises on the risk free selling of second-hand designer fashion consignment stock.
- Our suppliers win, as they get money back for the items they previously bought
- Our customers win, as they get amazing, authentic designer wear at a fraction of the retail prices
- Various Charities benefit, as we support them with monthly clothing donations
- The environment wins, as we reduce the human footprint a little – Fashion pollutes like everything else
- We offer unique internship programs for young people from varying backgrounds
Franchising is one the most progressive and successful business formats of our time, due to its powerful duplication principles. Franchising plays a leading role in fostering entrepreneurship and small business development and you will be able to fall back on 2nd Take’s experience and fortunately you won’t have to find out the best way of doing business, the hard way. We already have learned all the lessons in our business and are standing by to offer our advice and expertise in the Franchise venture.
For 2nd Take, Franchising is also a very important and successful business system to grow our second-hand retail stores. There are many chain stores attesting to this in Europe and the United States. However, we are the first company to make this exciting and rewarding business model available in South Africa.
Our expertise, experience, good image, creativity and support, combined with the willingness, dedication and corporate ambition of the Franchisee are vital in the success of establishing a 2nd Take franchise.
Please give this franchise opportunity careful consideration, to establish whether you are suitable for one of our franchises:
As Franchisor, 2nd Take will be responsible for growing 2nd Take and to adopt our business model to changing economic conditions and to facilitate growth.
As Franchisee, you will be responsible to owner operate your 2nd Take store and to follow our business model.
You have all our support to help you along the way, anytime and in any situation. We are as committed to your business as you are, and you can be assured that we will go the extra mile for and with you.
2. Franchisee Requirements
We have certain requirements on our Franchisees:
- Business Skills, integrity and professionalism
- An entrepreneurial spirit and the desire to bring this Franchise to success
- Excellent interpersonal and leadership skills, as well as financial management skills
- The willingness to devote your full time and your best efforts, to the day to day operation of the 2nd Take store as a hand on premises franchisee
- A passion for fashion and people, as well as a positive outlook to drive the growth of your store as well as the growth of the 2nd Take brand
- The willingness to complete the 2nd Take Training, which can last between two and four weeks
- Excellent employment record
- The ability to meet the financial requirements
3. 2nd Take Franchise Advantages
Being a 2nd Take Franchisee offers many advantages, from training and support to the opportunity to own a potentially thriving and successful business and to actively benefit from the power of our brand.
- A chance to have your own business and the rewards that come with it
- As a 2nd Take Franchisee, you are in business “for yourself, but not by yourself”
- The enjoyment that comes from working with great fashion brands and people
- A Business where your suppliers become your customers and your customers become your suppliers
- A business with low start-up costs, a proven business concept and good brand recognition throughout South Africa
- A Recession proof business – especially in economically tough times customers and suppliers alike come to us in increasing numbers
- The tools and support that will help make your 2nd Take store a success
- 85% of 2nd Take customers will become repeat customers
- A business geared for growth; we recorded an average monthly turnover growth of 25% in 2014 and 11% in 2015 and had our best trading year in 2016.
- 2nd Take’s ongoing and unlimited support in the areas of operations, training, advertising, marketing, purchasing and equipment
- Personal satisfaction as an individual owner and member of the 2nd Take organization
2nd Take’s philosophy includes an open exchange of ideas between 2nd Take and its Franchisees. Our business relationships are built on trust, mutual respect and partnership.
4. The Franchise Costs
The costs of a Franchise can vary and can only be determined once an individual Franchise is offered. Influencing factors are: size of the store, landlord contribution to setting up the store, location, equipment, signage and security.
- 2nd Take offers a Conventional Franchise format only, where the Franchisee must pay 100% of the total cost of a 2nd Take store from personal resources.
- You will need 50% of the purchase price in unencumbered, non-borrowed cash. These funds can be in the form of cash, shares or immovable property (at 80% of the valuation, less outstanding debt), but cannot include movable property or insurance funds.
- Absentee Investors are not allowed.
Other business interests must be disclosed and are discouraged.
4.2 Initial store set up costs
You are required to open your 2nd Take store within 3 months of signing the Franchise Agreement. The store set up costs are in the region of R160 000, excluding training and operational costs. These costs depend on the condition of the site and the landlord’s contribution.
4.3 Franchise fees
The Franchise joining fee is R70 000 per store.
Franchise Royalty fee:
5% of monthly gross revenue, with a minimum of R3500 payable per month
2% of monthly gross revenue, with a minimum of R1000 payable per month
5. The Application Process
If you think this might be the business for you, the next step is to get in touch with us to advise us where you ideally would like to open a 2nd Take store and to request our Franchise Disclosure document.
After having considered our Franchise disclosure document carefully and you still think this is your future business, you will need to complete the application form and forward it to us.
Submitting an application to 2nd Take is the first step in the application process and does not obligate the potential Franchisee or 2nd Take in any way.
- A non-refundable administration fee of R1 500 is payable upon submission of your application form. This fee will be used for general administration costs, as well as for obtaining the necessary financial, personal, employment and criminal background checks. Should more background checks be required the cost thereof will be borne by you.
- Your application will be reviewed and you will be notified via e-mail of the review result
- Should you meet our initial requirements, you will be interviewed by the General Manager
- Should your application be approved, you will be offered a franchise for a specific 2nd Take store or stores
- You are required to sign a non-disclosure agreement and to complete full-time training, which can last between two to six weeks (depending on your level of skills and understanding)
- You must be prepared to carry all the applicable costs, including flights and accommodation. You will need to be financially self-sustainable for the duration of the training.
All costs associated with the completion of the application are solely for your account.
To successfully operate a 2nd Take store, total commitment and lots of hard work are required.
You will need to show determination and staying power and give up plenty of your personal time and concentrate exclusively on the challenge of operating a 2nd Take store.
2nd Take is the leading second-hand clothing retail Franchise group in South Africa with boutique shops in Cape Town and Pretoria, as well as a convenient online store. 2nd Take stocks exclusive designer brands and high street labels, often not available for purchase anywhere else in South Africa.
2nd Take is your local one-stop international brands shop, saving you time and money!
For further information on 2nd Take, please contact us on 021 434 5878 or e-mail email@example.com.