Q: As a Franchisee can I own a Lab88 franchise and still have another independent store in the same market segment?
A: No unfortunately not. That would be seen as conflict of interests. If you own one or multiple stores in the same market segment as Lab88 and you are interested in purchasing a franchise license from us, you will have to trade all your stores under the Lab88 brand name. You will require one franchise license per trading store.
Q: Can I own a Lab88 franchise and still own another business in another industry?
A: As long as the other business in not in conflict with Lab88’s business interests, you are allowed owning multiple businesses.
Q: Can I set my own RRP?
A: No. This is controlled through Head Office.
Q: As a Franchisee, can I place my own choice of stock in my store?
A: Unfortunately not. Each product marketed through the Lab88 brand, is specifically chosen to add value and distinction and forms an intricate part of the success of the brand.
Q: Who supplies me with a system for managing my store?
A: As a Franchisee, you will require the rights under the Franchise Agreement to make use of our Business Intelligence System for the Term of your Agreement to manage your store. It is however your responsibility to purchase the required hardware or software to enable the system to work.
Q: Who will supply me with Bandwidth?
A: As each store is independently owned and operated, each Franchise will be responsible for acquiring bandwidth for your store through a service provider of your choice. However, being a Lab88 Franchisee, our preferred business partner will offer you preferred rates and assist you in setting it up.
Q: How will I go about building my store?
A: The store design and actual building of the store will be done by our team of professionals that will make sure all store requirements by Lab88 HQ are being met.
Q: Will Lab88 be held responsible for the success of my store?
A: As mentioned earlier, each store is independently owned and operated, which means as the business owner you will be ultimately responsible for the success of your store. However Lab88 as the Franchisor will assist and guide you and acknowledges that we have a vested interest in your business and therefore will work with you to ensure the success of the business and the brand.
Q: Who is responsible for providing my sales staff with training?
A: The Lab88 Franchise System offers a professional Training Platform to you as the franchise owner as well as your sales staff to assist with training. We do however recommend that as the owner of the business you do sales training sessions with your sales staff on a weekly basis.
Q: Where do I purchase my stock from?
A: All Lab88 approved products are available through Lab88 HQ. Being a Franchisor, Lab88 has buying power and therefore has negotiated better pricing structures with approved suppliers.
Q: I have never been a part of a franchise system before, how will I know what to do during the set up phase to get everything perfect for Launch Day?
A: A dedicated team of professionals consisting of designers, consultants, suppliers and Head Office Management will assist you during your set-up phase. They will guide you with seeking the right premises to fit the Lab88 brand, assist you during the building of the store, purchasing of stock and setting up your store. Our team will provide you with training and assist with your launch day and thereafter. Launching a new store is stressful but you have a professional experienced team behind you to ensure that every step is easy and a success.
Q: Can I print my own marketing material?
A: As a Franchisor, it is Lab88 HQ’s responsibility at all time to protect the brand image therefore; we have established an approved supplier channel for your convenience. Again because of buying power, we have negotiated the best possible price for your benefit.
Q: Where can I get finance from?
A: Finance is available through various financial institutions such as First National Bank and Standard Bank. Franchise Finance also offers finance options to either start-up businesses or established franchises. Lab88 will assist in providing you will all the information the finance house may require.
