Talk on the Street
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Talk on the Street
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Changing cultural, economic and governmental circumstances mean franchising is big business in S.E. Asia. And it’s not just global corporations getting on board.
While franchising has been a popular business concept, and a vital part of the economy, across the U.S. and in many other Western nations, South East Asia is beginning to open up to the idea of franchising. Not only are the large global corporates like McDonalds succeeding, but smaller franchises are finding great success within this emerging region.
“Countries like Vietnam, Indonesia and Myanmar, which have historically maintained very closed economies, are opening up to the idea of franchising on a large scale,” said Derek Cafferata, CEO of All State Franchise Finders. “This comes as their governments look to develop and meet the demands of their huge populations that desire to have access to the sorts of franchised products and services we simply take for granted.”
And for franchisors and entrepreneurs, this means big business.
Unique Aspects of S.E. Asia
As these countries in S.E. Asia begin to open up to Western business, commerce and culture, franchisors dominated by Western brands are using the franchised business model to take advantage of the huge business prospects that the region has to offer.
Asia offers a few unique aspects that provide powerful opportunities for franchising in this region. Most significantly is the size of the consumer population. The population of S.E. Asia is currently 625 million. This mass group, with the help of media and the Internet, have come to desire the brands we have become so used to. Combine this with solid growth in tourism, positive inflation rates and legislative changes at government levels within these countries to develop their economies, and you have booming business opportunities.
Big Brands Leading the Way
With a growing population of about 93 million, Vietnam has a stable political environment. A high literacy rate, the 13th largest labor force in the world and a low poverty rate mean consumer spending is high.
Besides the vast population of the Philippines, which sits at just over 100 million, the key factor in this country is its young population with more than half sitting within the peak employment age bracket. This young population are highly educated and the majority speak fluent English. Western brands are items they desire to buy and to feel a part of.
An educated, affordable and productive workforce is one of the unique factors about this major S.E Asian nation. Foreign brands are desirable. In addition, the Indonesian government is a major player in the Association of South East Asian Nations (ASEAN). They have set clear and simple guidelines for international businesses to venture into Indonesia.
Allstateff.com the Global Franchising Specialists
All State Franchise Finders, located with their headquarters in Fort Worth, TX, hare franchising experts who help franchisors seek out new franchisees and entrepreneurs navigate their way through the process of franchise selection, purchase and setup.
“We are finding more and more U.S. based companies branching out into franchising across the S.E Asian region, and they are finding great success in this,” said Derek.
All State Franchise Finders have extensive experienced in helping franchises branch out and open units in S.E Asia.
For more information about the power of franchising in S.E. Asia and to take advantage of this unique business opportunity, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today. All State Franchise Finders – Your Franchising Experts.