Cape Town - Despite the downturn in the SA economy, the local franchise industry continues to grow - although not at the same pace seen in previous years.
This became clear from the 4th independent survey on the contribution of the industry, which was done for the Franchise Association of SA (Fasa) and sponsored by Sanlam. The findings of the survey were discussed at an information session in Cape Town on Wednesday.
Most franchisors (92%) are optimistic about future growth in their businesses - consistent with findings from previous years. Four out of five franchisors have been in business for more than six years and 54% have been in business for more than ten years. According to Fasa this shows the sustainability of these businesses.