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Magazines Archives - 2009 August Explore ways to expand locally and overseas at FLAsia 2009 BUSINESS owners seeking growth avenues can look towards exploring abundant ideas and opportunities at the coming Franchising & Licensing Asia (FLAsia) 2009. The fourth instalment of the annual event will be returning to Singapore from October 15-17.
In a survey conducted by the Franchising and Licensing Association of Singapore, together with the Singapore Business Federation and FT Consulting Pte Ltd, more than 75% of respondents believe that franchising is a more feasible solution for overseas expansion due to lower business risks involved.
Rajah held up Asia as an emerging market for franchising and licensing in the years ahead, with the region’s franchise industry expected to grow to US $100 billion per annum. “Singapore’s 30,000 franchisees brought in nearly US$3.8 billion in annual revenue [in 2007],” she stated, hailing the growth of the market as “very encouraging” and foreseeing that the resultant “increase in commercial activities will create favourable employment opportunities”.
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Organised by BizLink Premium
Services Pte Ltd and presented by the
Franchising & Licensing Association of
Singapore, FLAsia 2009 will be held at
Suntec Singapore. The show will also
enjoy the support of various government
agencies, including SPRIN G Singapore,
the Economic Development Board of
Singapore, World Franchise Council,
Asia Pacific Franchise Confederation,
the European Franchise Federation, the
Australian Trade Commission, and the
US Department of Commerce.
The industry’s steady progress was
earlier noted by S
ingapore Deputy
Speaker and Member of Parliament
Indranee Rajah as the guest of honour
at last year’s event. “Franchising is the
way to grow and expand one’s business
locally and in [an] overseas market,”
she said, calling it “a win-win situation
for both franchisees and franchisors as
it minimises the risks for the former”
while giving the latter control over their
brand names.