Franchise Opportunities in Ecuador
Popular franchise directions in Ecuador
Attractiveness of Ecuador for the development of franchise business
The Republic of Ecuador, situated in Western South America has a total population of 17 million people, including 65.0 % living in urban areas. The largest cities of the country are its capital, Quito (2.74 mln) and Guayaquil (2.69 mln). Ecuador's economy depends on exports of agricultural products such as coffee and cocoa, plus petroleum.
Like any country with a developing economy, Ecuador faces some economic issues, however, it is open for foreign investments and provides ideal opportunities for new businesses, including franchising. For the last decade, it has become quite popular among Ecuadorians. This growth has been very obvious within such franchise sectors as specialized services, fashion, clothing, and fast food and restaurants. Sales in the retailing are much larger than in the food and services sectors. Both home-based and foreign franchise businesses are of interest for Ecuadorian entrepreneurs. Local business people prefer single franchises with a capital investment of less than $10,000.
Speaking about Ecuadorian franchise market share, 55% of them belong to the United States, 25% to Ecuador, 10% to Colombia and 6% to Peru.
The most promising franchise sectors are entertainment and leisure, coffee, health services, education, restoration and repair services and veterinary care centers.
A new franchise owner should take into consideration a heavy taxation system in Ecuador. Among the main benefits of running a business in the country is vast and cheap labor force.
There are high investment business opportunities, as well as cheap franchises in Ecuador presented for review, the choice is yours.
Indicators of Ecuadorian Business Market
Currency: United States dollar (USD, $)
Education Index (2015): 0,665
Official languages: Spanish
Per capita GDP (PPP): $11,788
Quality-of-life index (0-10): 5,7
Population: 16,39 mln
Total GDP (PPP): $194,845 billion
Ease of Doing Business Ranking, Rank: 123
Human Development Index (HDI): 0,752