Lockdown financially devastating for franchise stores

CAPE TOWN – 
The lockdown has been financially devastating to franchise stores, and many franchisors have suspended royalty payments until the economic situation improves – particularly in the  fast food, automotive, DIY and business-to-business sectors.
This was according to Franchise Association of South Africa (Fasa) executive director Vera Valasis who said on Friday that the list of franchisors stepping up to help their franchisees through the tough times was “growing daily”.
“It is important to assist franchisees so they in turn can keep employees on the payroll and ride the storm, in order to grow when the pandemic passes,” she said.

Source: iol.co.za