The global financial crisis (GFC) finally caught up with the franchising sector in 2010; but only for some.
The good news is the well managed systems with strong balance sheets continued to grow and prosper in 2010. That was the finding of two major studies of the franchising sector in 2009/2010. And it is a very encouraging portent for 2011.
The GFC, which struck at the end of the third quarter of 2008, hit small businesses in Australia very hard in 2009. Australian Bureau of Statistics figures showed that almost 1000 businesses a month ceased trading in the first half of 2009. Retail businesses were among the hardest hit. Read more.