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Peru: Franchise market to see US$1.5 billion in sales by end-2019

13:19 | Lima, Nov. 14.

The Peruvian franchise sector will register US$1.5 billion in sales by the end of 2019, a growth of 25% compared to 2018, Peru's Exports and Tourism Promotion Board (PromPeru) has projected.

PromPeru Service Exports Manager David Edery affirmed that —while the figure is encouraging— efforts must be undertaken in order to make Peru's market stand out in the region.

"This will be achieved if we work on the professionalization of the sector, an important strategy that will boost the promotion of this business model," he stressed during the VI International Franchise Expo & Business Rounds organized by Lima Chamber of Commerce (CCL).

According to PromPeru, 210 franchises operate in the South American country, of which 110 are Peruvian and 100 came from overseas.

In addition, he estimated that 25 Peruvian franchises will enter the market during the first half of 2020.

Concerning the foreign ones, he indicated that fashion is the most dynamic category, followed by the entertainment and training (gyms) ones.

"Peru is an extremely interesting place, and that is making the inventory grow more and more," Edery said.

Likewise, he stressed that the Inca country —thanks to this business model— is entering 21 international markets led by the gastronomy sector, with more than 5,000 restaurants worldwide.

Employment

Regarding employment, the PromPeru official mentioned that the sector generates around 30,000 jobs in a sustainable way, directly related to service companies.

For more than 20 years, franchises in the country have been constantly growing, thus contributing with jobs to the economy, offering high-quality products and paying taxes, which are necessary revenues to meet the population's basic needs.

In this regard, CCL First Vice-President Peter Anders said that franchises are an important dynamizing tool for the economy and employment.

(END) MDV/MVB

Publicado: 14/11/2019
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