Expansion slows in franchise sector

Wages, rents take a toll on chain store, restaurant profitability, new survey finds

Fewer new retail outlets are being opened by franchisers, indicating slower growth in sectors ranging from supermarkets to convenience stores, alcoholic beverages and restaurants, an industry survey has shown.

According to the China Franchise Development Report, released by the China Chain Store and Franchise Association, the top 120 franchising retailers in 2013 had 139,701 stores.