Franchise sector helps drive economy
BUFFALO City Metro (BCM) mayor Alfred Mtsi has urged business people to consider investing in franchises to assist with job creation and boost the economy of the city.
The mayor was speaking at a cocktail event launching the two-day BCM Franchise Expo, which opened at the East London International Convention Centre yesterday.
“We are meeting here at a time when our country and the world are busy sharing notes on how to tackle the common challenges that are caused by financial economic decline.
“Cities such as BCM are the foundation of economic growth because we are the doorstep of service delivery and economic development.
“This expo must be viewed in the context of the local and global situation, which presents a decline in the econo Mtsi said.
About 50 companies
are exhibiting their brands at the annual Franchise Expo, the second to be held in the city.
Mtsi said the franchise sector was a strong driver of economic growth.
“Franchises contribute significantly in the GDP [gross domestic product] of the country and create employment opportunities.
“The success story of franchises in South Africa is not questionable.
“They have survived in the midst of economic turbulence,” he said.
Franchise expert Kurt Illetschko said investing in a franchise was advantageous for business people as they did not have to start a business from scratch.
“One can invest in a franchise and the franchise is supposed to be the blueprint to business success,” he said. — siphem@dispatch.co.za