Sales from franchised businesses in China are expected to make up 30% of the country's total retail sales in 2010, Shanghai Daily reports. Currently these sales only account for about 1%, so the increase will be very dramatic.
The projection was made by eMedia Asia at the fair which ends at ShanghaiMart today.
Sales of franchise businesses in China totaled US$24.8 billion last year. That is 0.037% of the country's retail sales of RMB5.4 trillion, according to China Chain Store and Franchise Association. The country's retail sales were projected to reach more than RMB10 trillion in 2010.
The catering industry is top choice for Chinese franchisees with 36% of the respondents in a recent China Franchise survey targeting it.
The laundering service follows with 29%.