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FRANCHISING FIGHTING THE ODDS

When times are tough, tough franchisors get entrepreneurial and it seems that the franchising sector is really pulling together to beat the recession.

At the last Franchize Directions Networking Breakfast Standard Bank’s economist Danelee van Wyk acknowledged that 2009 was going to experience the worst of the recession, with hopefully a recovery in 2010. Historically it takes almost two years for consumer spending to normalize after a recession, but recent results posted by some top brands like Pick n Pay, Checkers, Famous Brands and Taste Holdings indicate that franchising is bucking the system.

Franchisors across the industry spectrum remain positive about the prospects for franchising in the economic downturn with many who attended FASA’s IFE reporting solid leads especially those in the personal beauty care, convenience foods and service sectors. This is largely due to the defensive nature of many franchises and the strong brands associated with them. Key elements to weathering the storm for many franchises groups are the following:

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