Franchise – Frequently Asked Questions

Franchise

Frequently Asked Franchise Questions

Is 2nd Take a member of Franchise Association of South Africa, FASA

Yes,  2nd Take is a member of FASA since 2015.

How much will the Franchise cost?

A 2nd Take Franchise will cost roughly R250, 000. R70, 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 I be required to be operational?

A 2nd Take Franchise store will need to be set up within three months after the 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 our know how, information and knowledge, thereby protecting the interests of 2nd Take and our Franchise owners.

What justifies the pricing attached to the products in store?

We have standardized pricing guides that serve to guide the pricing of our consignment clothes. The guides are strictly applied to all products with the aim of facilitating fair valuation, but still have room for store specific conditions.

How will I obtain stock for the store?

The area around your Franchise store serves as a catchment area. The stock will come from your surrounding neighbourhoods and will be taken on as consignment stock. Demand requirements will be derived based upon specific consumer need in your area. You could also buy in bulk from 2nd Take Headoffice or specified suppliers.

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

At 2nd Take, the goal is to have the highest quality level of second-hand designer stock in store. All Franchise owners 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 2nd Take 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 satisfied with your first stores progress and performance, 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 Franchise owners 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 to 13 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 or two, 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 2nd Take Franchise store. We will endeavour 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.

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.

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, advertise locally and keep 2nd Take up to date with developments in your area and competitor behaviour.

 

2nd Take is the largest consignment second-hand clothing retailer 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.

For further information on 2nd Take, please contact us on 021 434 5878 or e-mail franchise@2ndtake.co.za.

 

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