Tuesday 4 October 2022

The Franchising Business in Panama

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04 October 2022 - At The Banks - BCCR

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The sectors of gastronomy, services and clothing is where most of the more than 200 franchise chains, including both Panamanian and international, that operate in the country are concentrated.

As in other countries in the region, such as Costa Rica, the franchise business is becoming increasingly significant in Panama. Figures from the Economic Studies Center at the Chamber of Commerce, Industries and Agriculture of Panama, show that more than 200 franchise chains are operating, and 15 Panamanian companies have been franchised under this business model.

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An article by Martesfinanciero.com states that “…The main global franchises have a presence in the country, and the business has evolved and regionalized with the emergence of Panamanian own brands that are starting to scale up with franchises throughout the country. Clear examples of the trend are Nacionsushi, Suvlas, Pío Pío or Athanasiou. Although the latter is Greek-Panamanian and is growing throughout the country.”

“… Some franchises have started to cross borders not only from Central America, but from the Atlantic to reach markets such as Spain. If the pulse of its retail sector is measured by the number of shopping centers and squares that are opened, the vision is that in the medium and long term franchises will continue to move millions.”

Article first appeared at Today Panama, click here to go there

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Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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