DURBAN – The franchising sector has shown steady growth over the past four years, in a tough economy from contributing an estimated 9.7 percent to the country’s gross domestic product (GDP) in 2014 to its recent figure of more than 15 percent, according to the Franchising Association South Africa (Fasa) 2018 survey.
Around 30 percent of franchises are now owned by previously disadvantaged South Africans, with one in three franchises turning over more than R20m per annum.
With the FNB Franchise Leadership Summit theme this year "the future of the franchising sector", Michael Vacy-Lyle, chief executive FNB Business has noticed key trends in the franchise space.
Here are the trends:
1. More Multi-Unit Owners, and franchisees owning multiple concepts