Venezuelan Franchising Scheme Modified By Import Troubles
Economy obstacles to get foreign currency and import inputs have changed the operation patterns of some Venezuelan franchises.
According to Alfonso Riera, Venezuelan Franchise Chamber (Profranquicias) Director, although one of the goals of such trade is to purchase local commodities, the reality shows that for some franchisees imports substitution is not easy.
Franchises linked with the food sector and services such as dry cleaning are the most dependent on goods not manufactured in Venezuela. Therefore, they have had to improvise ways to overcome the paperwork delays at the Foreign Exchange Management Committee (Cadivi) and the Ministry of Light Industry and Trade (Milco).
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