CAPE TOWN - Data published by the Franchise Association of South Africa (FASA) shows that the sector’s performance remains postive and continues to see growth.
According to a report by Business Tech, the industry not only experienced growth in the number of franchises opening up over the past year but also saw revenue increases across major brands.
In 2017, the sector consisted of 845 franchisors and over 40,000 franchisees.
The report stated that the sector employed about 343,000 people and generated sales of R587 billion.
This equals 13.3% of the country’s GDP, up from the 9.7% recorded in 2014.