Every man to his taste, FINWEEK
Every man to his taste, FINWEEK
South Africa stands proudly alongside leading countries in the US, Europe and Australasia as a pioneer in ethical and successful franchise development. The franchise industry survey carried out by the Franchising Association of South Africa (FASA) reveals that franchising comprises an estimated 9.7% of South Africa's GDP —making the sector a substantial contributor to the South African economy. And even during the recession franchising held its own, contributing 11.8% towards the economy over the 2008 to 2010 period, outperforming some of the country's other dominant sectors. It's a resilient business model and continues to have a failure rate of less than 10%, compared to the 90% failure rate of independent start-ups.
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