Franchise business rosy
Print Edition
SALES of China’s top franchise companies expanded 21 percent to 360 billion yuan (US$53 billion) in 2016 while they experienced a 22 percent climb in new franchise outlets in the past year, a report by the China Chain Store & Franchise Association said yesterday.
By the end of 2016, the franchised outlets of China’s top 100 franchises totaled 140,000, a rise of 17 percent from a year ago, according to the report.
However, like-for-like sales grew just 2 percent from a year ago, the report added.
“Franchises are still relying on the store expansion to boost revenue and their profitability is relatively week, while only 21 franchises reported double-digit single outlet sales increase,” the report said.
Guangdong-based Dongguan Tangjiu Group Meiyijia Convenience Store is the largest franchisor with the most number of franchisees at 9,300 stores nationwide, the report pointed out.
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