Franchising industry a major contributor to South Africa’s GDP
The franchising industry contributed 13.4% to the country’s gross domestic product (GDP) in 2017, Franchise Junction CEO Thys van Zyl said in a recent address to delegates at the 12J Marketplace conference, in Johannesburg.
He added that the franchising industry not only contributed to GDP, but also created jobs.
“Two years ago, the franchising industry contributed 11% to GDP and last year about 13.4%. The franchise industry is growing at a fast pace in South Africa, and is a major contributor to the country’s economy,” he noted.
He said the average South African consumer spend within this market was easy to understand, pointing out that, typically, 56% of consumer spend per month goes into the franchising industry.
He pointed out that, last year, the turnover for the franchising industry in South Africa was R587-billion.
“These statistics only come from people who contributed to the survey, so the actual amount could be much higher,” he stated.
He added that two out of four new franchises break even in the first year of investment, noting that the franchising market was risky, and it that it needed to be managed correctly to make it successful.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
