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

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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0:05 Introduction to our guest speaker, Itumeleng Hlapane
1:35 Itumeleng talks about what he lectures in and where
3:55 Itumeleng shares where he was born and raised
4:28 How Itumeleng was inspired to start his own coffee shop franchise
8:22 The reality of owning part of a franchise
11:32 How much capital do you need to start a coffee franchise?
12:49 How long does it take for one of these coffee shops to break even?
14:44 Itumeleng shares how he markets his franchise
18:07 What makes Shape Café unique compared to other coffee shops and franchise properties?
19:55 How did Itumeleng fund his coffee shop?
22:11 Investing in an existing franchise versus starting your own franchise
23:22 What is your experience with managing cash flow?
25:44 How the system works with doing the books when customers pay cash and swipe
27:54 Coping with losses and focusing on your vision
31:59 One key thing Itumeleng shares with his students about managing and starting healthy businesses
35:42 The differences between self-employed, an entrepreneur, and a businessperson
39:00 The matter of paperwork - getting your admin right
41:09 How important is discipline with running a small to medium business?
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