The FASA Awards for Excellence in Franchising, held annually, celebrate not only the top achievers in the industry, but have become the industry’s highest accolade and the vehicle through which the Franchise Association of Southern Africa shows the world how successful franchising is as a business format.
At the Awards for Excellence in Franchising, held as the culmination of Franchise Week, which saw the industry get together to attend a Franchise Convention and incorporating the International Franchise Expo, close to 400 franchisors and franchisees gathered at the week-end to celebrate FASA’s 30th anniversary as the industry’s representative body.
Newly elected Chairman Tumi Sengoara toasted the success of franchising in South Africa, which has grown to become one of the most important business sectors contributing 12.57% to GDP, with close to 30 000 franchised outlets in over 17 business sectors employing over half a million people. “Despite the economic downturn franchising continues to be a dominant business format as far as SME development is concerned. Across the globe small business is recognized as the safety net of any economy and franchising is proving to be quite resilient even in this economic climate.”
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