TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    Facebook Twitter Instagram
    TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    • Hot!
      1. COVID-19
      2. Vietnam
      3. Asia
      4. World
      5. Video
      Featured

      China’s Xi arrives in Russia to meet Putin over Ukraine war

      By Mike HarrisonMarch 20, 20230
      Recent

      China’s Xi arrives in Russia to meet Putin over Ukraine war

      March 20, 2023

      Mobs clamoring for attention disrupt celebrity funerals

      March 20, 2023

      Chiang Mai beauty wins 2023 Miss Thailand crown

      March 20, 2023
    • Business

      POPS Reaches Huge Milestone with 10,000 Enrolled Students

      December 16, 2021

      UrBox raises $2.2 million in Pre-Series A

      December 16, 2021

      One Mount garners two prestigious awards as it celebrates two years of remarkable growth

      October 11, 2021

      IBM and Mercedes develop “Stolen Vehicle Help” for Mercedes me service

      October 5, 2021

      Porsche reports Q3 2021 U.S. retail sales

      October 2, 2021
    • Life
      1. Lifestyle
      2. Recipes
      3. Fashion
      4. View All

      Mobs clamoring for attention disrupt celebrity funerals

      March 20, 2023

      Fosun’s Businesses Show an Upward Trend, Nomura Reiterates its “Overweight” Rating

      March 20, 2023

      Chiang Mai beauty wins 2023 Miss Thailand crown

      March 20, 2023

      Hong Kong Baptist University-led research unveils cell entry mechanism of SARS-CoV-2 and therapeutic target for COVID-19

      March 20, 2023

      Cooking tips for a smaller Thanksgiving celebration

      November 18, 2020

      Hanoi: A capital, and a kingdom of egg coffee shops

      November 16, 2020

      4 must-try recipes when you travel to Vietnam

      November 7, 2020

      Cutting-Edge Technology for Top Dentists

      December 24, 2021

      H&M faces boycott in Vietnam over “problematic map”

      April 7, 2021

      Ground-breaking French designer Pierre Cardin dies aged 98

      December 30, 2020

      #HealthGoals: Jessica Simpson shows off 100 lbs weight loss in Christmas pajamas

      December 27, 2020

      News – ITWorld Korea

      March 20, 2023

      News – ITWorld Korea

      March 20, 2023

      If You’re Not a “Network Expert” in Cloud Decision-Making… 5 Things You Need to Know

      March 20, 2023

      Mobs clamoring for attention disrupt celebrity funerals

      March 20, 2023
    • Sport
    • Tech
      1. Gadgets
      2. View All

      News – ITWorld Korea

      March 20, 2023

      News – ITWorld Korea

      March 20, 2023

      If You’re Not a “Network Expert” in Cloud Decision-Making… 5 Things You Need to Know

      March 20, 2023

      Equinix Installs Oxford Quantum Circuit Quantum Computer at IBX Data Center in Japan

      March 20, 2023

      News – ITWorld Korea

      March 20, 2023

      News – ITWorld Korea

      March 20, 2023

      If You’re Not a “Network Expert” in Cloud Decision-Making… 5 Things You Need to Know

      March 20, 2023

      Equinix Installs Oxford Quantum Circuit Quantum Computer at IBX Data Center in Japan

      March 20, 2023
    • Podcast

      Insight into the podcast industry and why Times24H will attack this field

      November 14, 2020
    Media Outreach Newswire
    TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    Home»Asia»Việt Nam appealing market for franchising businesses: seminar – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports
    Asia

    Việt Nam appealing market for franchising businesses: seminar – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Kevin LeBy Kevin LeJanuary 28, 2021No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

     

    Nguyễn Phi Vân, founder and chairwoman of the Retail and Franchise Asia and founder and executive member of World Franchise Associates, speaks at the ‘Start your own business with franchise model’ seminar organised by the HCM City Investment and Trade Promotion Centre in HCM City. Photo courtesy of the centre

    HCM CITY — Việt Nam will become an attractive destination for franchising businesses after the pandemic ends, experts have said. 

    Nguyễn Tuấn, deputy director of the HCM City Investment and Trade Promotion Centre (ITPC), told the ‘Start your own business with franchise model’ seminar in the city last week: “With its positive economic growth rate last year and a population of nearly 100 million, the future of franchising looks promising in Việt Nam.”

    Tuấn said, “Besides bringing huge benefits to franchisors, the model also minimises the risk to franchisees.”

    According to the International Franchise Association, Việt Nam has become an attractive franchising destination, especially in sectors like food and beverages, education, health and nutrition, business services, hospitality, fashion, beauty and skin care, entertainment, and convenience stores.

    Nguyễn Phi Vân, founder and chairwoman of Retail and Franchise Asia and founder and executive member of World Franchise Associates, said the franchising industry contributes 5-10 per cent of GDP in countries where it is developed.

    In the US, where it originated, the figure is 5.1 per cent, and it is 10 per cent in Canada, 9 per cent in Australia and 9.7 per cent in South Africa, she said.

    In Asia, franchising is strongest in South Korea (7.8 per cent of GDP), followed by Malaysia (6.3 per cent), the Philippines (5 per cent) and Singapore (3 per cent). 

    In Malaysia it has been chosen by the government as a long-term strategy to develop SMEs — by exporting business models and brands instead of exporting goods, Vân said.

    After the pandemic passes, franchising has the potential to develop strongly, she said.

    But, to be successful, franchisees need to make sure they have good business plans and management, she said.

    Vietnamese franchisees invest a lot of money to buy a franchise but not to build a management team to run it, she revealed.

    To have a sustainable model, businesses must focus on brands and the business model, the operating platform, personnel training, supply chain, and technology platform, she added.

    In Việt Nam, well-established franchisees include Trung Nguyên Coffee, Phở 24, T&T, Cafe Bobby Brewers, Kinh Đô Bakery, Wrap and Roll, Café Cộng, AQ Silk, Shop and Go, and Highland’s Coffee.

    The seminar was organised by the HCM City Investment and Trade Promotion Centre. — VNS



    Source: Vietnam News

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    News – ITWorld Korea

    March 20, 2023

    News – ITWorld Korea

    March 20, 2023

    If You’re Not a “Network Expert” in Cloud Decision-Making… 5 Things You Need to Know

    March 20, 2023

    Leave A Reply Cancel Reply

    Latest News

    News – ITWorld Korea

    March 20, 2023

    News – ITWorld Korea

    March 20, 2023

    If You’re Not a “Network Expert” in Cloud Decision-Making… 5 Things You Need to Know

    March 20, 2023

    China’s Xi arrives in Russia to meet Putin over Ukraine war

    March 20, 2023
    DMCA.com Protection Status
    Facebook Twitter Instagram Pinterest
    © 2023 TIMES24H. Regn. No. 0316487598. All rights reserved

    Type above and press Enter to search. Press Esc to cancel.