An obvious choice but is definitely the one I would recommend. Stay at least 2 nights, the night before and the night of. If you can plan your trip to have 3 nights there and the night after the wine tram is a Friday then you're in for a treat! You can head for an evening at the Boschendal night markert for a music, food and wine filled evening. 

Franschhoek stays 

Luxury - 

Mid range - Neighbourgood De Wet - perfect location a minute away from the wine tram and close to the centre of town. £30-60pn ($40-80pn).

Budget -