Franchising’s Big Potential

The New Age Online:

The overall performance of South Africa’s franchising industry has held fairly steady, despite the difficult economic conditions, with the average annual growth of around 5% to 7%, according to Morne Cronje, head of franchising at First National Bank.

Cronje said while this was not a particularly stellar performance, the sector had demonstrated that it was fairly robust and could hold its own as a contributor to the country’s economy, regardless of the financial crisis against which it is required to operate.

“Franchising in South Africa is still not fully realising its true growth potential and it would not take much to effectively double the sector’s growth figures, and its contribution to the nation’s economic and social development.

“Essential to the achievement of this increase in the level of growth is the buy-in and cooperation of all franchising industry stakeholders from the franchisees and franchisors themselves to financial and funding institutions as well as local and national government.” Continue reading.

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