With an estimated turnover of R721 billion, the sector contributes 15.7% to the total South African GDP, has over 850 franchised brands and about 41000 outlets.
“The franchise system has weathered the economic downturn better than other business models,” said Vera Valasis, Fasa executive director.
“The continued growth of new franchise concepts proves that franchising is the entrepreneurial heart of any economy.”
Valasis believes that on a global front, our changing world is opening up opportunities on the franchise horizon. “As spending patterns change, entrepreneurs will be looking at business sectors where there is an appetite for franchising and flourishing new industries will start to see the light.”