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Expert Bolshakov announced the restoration of the franchise market in Russia – Rossiyskaya Gazeta

Date: April 20, 2024 Time: 06:15:06

Previously, he recalled, there was a drop in the franchise market, which was due to the drop in sales amid the suspension of advertising on Google and on social networks banned in Russia. At the same time, the price of applications on Yandex increased by 2-3 times due to high competition during this period. But Telegram, VK and Odnoklassniki are not yet giving the desired results and have not yet become a competitive alternative to the previous sources. Due to this, the average increase in new franchised chains in 2023 was lower than in 2022.

On average, companies opened 48.35 franchises per brand in 2023, compared to 53.7 franchises per brand in 2022. But their closures have slowed: 5.8 points per franchise network in 2023 compared to 6.8 in 2022 The average net increase of the chains (openings minus closings) in 2022 was 41.75%. In 2023, the figure was +30.5%. In addition, Bolshakov notes, there has been growth in popular segments. Thus, “Childhood development and education” recorded an average increase of 27.28%, “Services” – 31.46%, “Public catering” – 22.24% and “Cafes” – 12.95%.

In addition, according to the expert, Russian companies have begun to show greater interest in selling their franchises to other countries. Many of them have set exactly this development path in their strategies for 2023-2024. Today, the main buyers of Russian franchises in the world are relocatees.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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