There are now some 531 franchised systems operating in the local market with close to 30 000 franchised outlets serving the public in over 17 different business sectors and employing over half a million people.
Says Bendeta Gordon, Director of Franchize Directions: “During the tough economic times the world is experiencing at the moment, there is hope for the South African market, simply because franchises are usually able to support themselves. The Standard Bank Franchise Factor 2008 Survey showed a 37% increase (R256.46 billion) in turnover and the creation of 67 000 new jobs in the sector. Sustainability rate was almost 96%, with the sector’s contribution to GDP at 12.57%. This survey has brought home what a terrific mechanism franchising can be – especially in the context of our current situation in the country, and considering its socio-economic needs.”