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Money Lessons for Aspiring Franchise Owners from SHAPE Café Founder, Itumeleng Hlapane

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Itumeleng Hlapane, founder of SHAPE Café, shares his story about starting a franchise from the ground up, with Old Mutual’s Head of Financial Education, John Manyike.  Learn all about the do’s and don’ts of a franchise and get invaluable financial lessons. Ready to start your own empire? Then listen to this episode!

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Chapters
  • 00:05 Introduction to our guest speaker, Itumeleng Hlapane
  • 01:35 Itumeleng talks about what he lectures in and where
  • 03:55 Itumeleng shares where he was born and raised
  • 04:02 How Itumeleng was inspired to start his own coffee shop franchise
  • 07:34 The reality of owning part of a franchise
  • 10:26 How much capital do you need to start a coffee franchise?
  • 11:24 How long does it take for one of these coffee shops to break even?
  • 13:06 Itumeleng shares how he markets his franchise
  • 16:09 What makes Shape Café unique compared to other coffee shops and franchise properties?
  • 17:54 How did Itumeleng fund his coffee shop?
  • 19:59 Investing in an existing franchise versus starting your own franchise
  • 20:50 What is your experience with managing cash flow?
  • 23:06 How the system works with doing the books when customers pay cash and swipe
  • 25:09 Coping with losses and focusing on your vision
  • 29:02 One key thing Itumeleng shares with his students about managing and starting healthy businesses
  • 32:21 The differences between self-employed, an entrepreneur, and a businessperson
  • 35:37 The matter of paperwork – getting your admin right
  • 37:38 How important is discipline with running a small to medium business?
3 Feb 2023 English South Africa Education

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