While some South African franchisers and franchisees suffered or even went out of business during the recession, other brands used the economic downturn to build their presence in the market.
Vera Valasis, executive director of the Franchise Association of South Africa, said feedback from members indicated that the industry had survived the recession relatively intact.
“Household name brands have performed well during the recession, as they go out of their way to understand the changing needs of their consumers. As a result, they are able to ensure that their brands evolve in accordance with consumer needs,” Valasis said. Read full post here.