In today’s poor economic climate where the lending environment has become tougher, getting a leg-up with a R200 000 windfall is a dream come true for any person looking to start his/her own business. One lucky visitor to the Franchise Business Festival stands a chance to win R200,000 cash sponsored by the OK Franchise Division.
Exclusive to the new-look Franchise Business Festival taking place at the Kyalami Expo & Convention Centre from the 30th June to the 2nd July, the competition is open to anyone who visits the Franchise Business Festival expo and picks up an entry form from the OK Franchise Division’s stand. Visitors who are South African citizens and do not have a criminal record or adverse credit record may enter the competition.
- The winner would be required to invest the whole amount of R200 000 into a new franchised business which is accredited by the Franchise Association of South Africa. The amount of R200 000 can be used as a part-deposit or total payment depending on the cost to establish a new outlet of the particular franchised brand chosen by the winner. Franchisors usually require a 50% unencumbered deposit from prospective franchisees to purchase a new outlet.
- The prize money is to be deposited into a business account courtesy of ABSA which is to be opened in the name of the winner. ABSA would consider an application from the winner for additional funding provided the winner is credit worthy and complies with the lender’s lending criteria.
- The cash prize cannot be used for any other purpose other than to purchase a franchise from a Franchise Association of South Africa accredited franchisor member.
- Should the winner not comply with the requirements of the competition their entry would be disqualified and another winner will be chosen. The winner is to be announced as soon as possible after conclusion of the Franchise Business Festival but not later than two months after the festival.
- The winner must be prepared to participate in all relevant marketing and PR campaigns by OK Franchise Division, ABSA and the Franchise Association of South Africa.
- Terms and Conditions apply, visit OK Franchise Division at the Franchise Business Festival for more details.
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