Salvadoran Firms Follow Franchise Model
Franchise projects are considered an alternative for expanding operations, strengthening brands and generating more jobs.
Wednesday, March 4, 2009
The Director of the Finance Ministry's (MINEC) Production Development Fund (FOEX), Vladimir Velasquez, informed Elsalvador.com: "The franchise appeal of investment and profits is already knocking on the doors of Salvadoran small and medium sized businesses which have taken the lead on this issue. The fund provides $25 thousand to companies interested in turning their business into a franchise, provided that their sales do not exceed $7 million."
With the franchise model growing on the isthmus, how important is to have a clear regional legal framework?
31 companies in Costa Rica work under this business model, some with foreign expansion.
Currently, 265 franchises operate nationwide of which 22% are in the Guatemalan capital.
The growth and positioning of franchises in Costa Rica is encouraging more entrepreneurs to opt for this alternative.
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