Frequently asked Franchise Questions

Frequently Asked Franchise Questions answered

 

How much will the Franchise cost?

A 2nd Take Franchise will cost roughly R180, 000 in unencumbered cash.  R50, 000 will be required for the joining fee, with the rest being utilized to set up the store. It is a low cost Franchise and the objective will be to maintain a low cost structure.

 

By when will you be required to be operational?

A 2nd Take Franchise store will need to be set up within the first three months post inception and signing of the Franchise Agreement. By the close of the sixth month you should be fully operational and in tune with the business.

 

Why do I have to sign a non-disclosure agreement?

You will have to enter into a non-disclosure agreement due to the fact that information relating to 2nd Take’s Franchise is sensitive. We reserve the right to protect the information thereby protecting the interests of 2nd Take and our Franchisees.

 

What justifies the pricing attached to the products in store?

We have standardized pricing guides that serve to guide the pricing of products within store. The guides are strictly applied to all products with the aim of facilitating fair valuation.

How will I obtain stock for the store?

The area within which you find your store in serves as a catchment area. The surrounding neighborhoods will bring stock in store on a consignment basis. Demand and demand requirements will be derived based upon consumer need. You could also buy in bulk from 2nd Take Headoffice or specified suppliers.

 

Do I have to observe certain standards when taken stock in?

At 2nd Take, the goal is to have the highest quality level of designer stock in store. We strive to maintain stock in store thus ensuring availability. All Franchisees are to firmly reject poor quality stock, damaged stock, counterfeit and dirty stock. We have strict regulations  on this.

 

Will I be able to open more than one Franchise store?

If your first Franchise store is well run, profitable and operationally efficient, further stores can be considered. Once the management of 2nd Take is sufficiently pleased with your first stores progress we would consider authorizing the establishment of a suitable second store.

 

Where can I open a 2nd Take Franchise store?

The 2nd Take Franchise is for Sale in South Africa nationwide, but of course location is key and potential areas will go through a vetting process.

 

Is training mandatory?

Yes, training is mandatory, as we need our Franchisees geared fully towards achieving business success. The goal is ensure that you have the maximum chances of achieving operational efficiency with the aim of satisfying customer needs and preferences. It will be your responsibility to pass on the knowledge to your staff. This is crucial – as customer-facing staff will represent the store on a front office level.

 

What kind of support do we receive in the training?

We have functional experts in all departments – accounting, finance, Fashion and marketing. These individuals are skilled in their respective subject matter areas and will endeavor to transfer their skill base to you.

 

By when will I be in a position to generate a profit?

Based upon experience, you will be likely to generate a positive return on investment 11 months into trading. By applying steady resolve you will reap the rewards of trading under the 2nd Take brand and business model. The store should achieve break even from month number one, however to truly generate profits, it generally takes a few months.

 

Who do I turn to, should I encounter problems in running the store?

If you need assistance, we are just a phone call or e-mail away. All our resources are to your disposal, to ensure that you are successful in running your store. We will endeavor to assist you as best as we can, but the ultimate responsibility for managing the store rests with you.

 

Can I advertise freely to generate demand?

2nd Take wants to ensure consistency in all that we do. We will co-ordinate all advertising and marketing on a national basis in an appropriately managed fashion. You are welcome to facilitate store advocacy on a local level but we have strict guidelines for advertising and marketing. 2nd Take Headoffice will need to approve all your individual advertising.

 

What Marketing activities will be done?

2nd Take is responsible for creating general brand awareness. The used channels include a monthly newsletter, social media platforms, website content, print advertising, google ads and advertising on affiliate platforms. All these activities are aimed to draw traffic to our website.

These marketing activities are covered by your monthly Marketing fund contribution. You are required to collect marketing information relevant to your store location and keep 2nd Take up to date with developments in your area and competitor behavior.

Should I encounter stumbling blocks in managing the business what should I do?

Don’t wait and contact us immediately. We are there to assist and help you overcome any challenges. It also is always advisable to refer back to the original Franchise contract, Operations and Training manual. These documents possess all the information that you require to manage the business on a daily basis.

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