More and more Vietnamese business models and commercial products are developing into chains and planning to franchise globally. This is a completely opposite trend compared to the past.
According to statistics from the Ministry of Industry and Trade, in 2022, there will be 18 brands franchise foreign brands or re-contracting to stay in Vietnam. After two years of the pandemic, the number of brands entering or re-contracting to stay in the market increased to 26 in 2021.
On the contrary, the number of Vietnamese brands franchising is more modest and not many units are successful.
Sharing on the sidelines of the workshop "Understanding correctly to invest in successful franchise" held on May 27, expert Nguyen Phi Van said that franchising is an industry that contributes greatly to the national GDP if properly invested in for the industry to develop.
In Singapore, the franchising industry contributes 3% to the GDP of this island nation, or in the Philippines it is 5%, some countries have higher contribution rates such as Malaysia is 6.3%, the US is 5.1%, in Australia is 9% and Canada is 10%. In addition to GDP value, this is also an industry that creates jobs and large-scale labor for the economy.
"Many countries have structured the franchise industry as a strategic industry for national economic development, especially for the private sector or small and medium enterprises," said Ms. Van.
Recently, many Vietnamese business chains, after establishing domestic models, have also begun to consider franchising abroad. Most of them are start-up projects in the fields of F&B, services... with strengths in exploiting local Vietnamese resources or applying technology, enhancing shopping experiences and using services for customers.
Mr. Tran Nhat Vu, co-founder of Phuc Tea brand, a milk tea chain - said that he has started to contact partners in Malaysia for the exclusive franchise agent - "master franchise" or Pho"S brand of chef Nguyen Tu Tin, winner of the "Golden Star Anise" award in Pho Day by the newspaper. Youth Organized, standardized recipes and cooking methods for international franchising.
In addition, some health care brands such as Care With Love, Star Home Spa, Run Together Vietnam... have also begun to pay attention to developing the external market.
According to Ms. Nguyen Phi Van, Vietnamese cuisine is considered one of the most potential industries to follow the franchising path thanks to its high differentiation advantage and consumer expectations.
"Vietnam, with its traditional dishes that are increasingly known to international customers such as pho, bun, banh cuon, banh mi, etc., is facing a golden opportunity to step out into the world through a suitable model. This is also true for the service industry when applying technology to the operating model," said expert Nguyen Phi Van.
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