Businesses expand effectively and quickly around the world through the franchising system. In the United States, there are believed to be more than 750,000 franchise businesses, with the franchising industry employing over 18 million people. Other intriguing facts and statistics related to the franchise industry in the U.S., according to the International Franchise Association (IFA) are:
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By Astreem Corporation
Businesses internationalise for many reasons and in various ways. Be it proactive or reactive, internationalisation can be perceived as a prerequisite for survival, an opportunity for growth or to exploit an existing competitive advantage in a new market based on direct economic parameters such as market size and costs.
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Franchising in Malaysia is growing partly due to its popularity as a preferred way of doing business. In recognising this trend, the government through Perbadanan Nasional Berhad (PNS) takes the leading role in nurturing and developing the local franchise industry. The Malaysian External Trade Development Corporation (MATRADE) adds to the value chain by providing information, network and trade promotion vehicles in promoting Malaysia’s franchise business.
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Taking Malaysian Franchise International
International expansion can be extremely appealing for most franchisors who have reached a saturation point in their own markets. Aside from being a natural and viable strategy, expanding a franchise beyond the boundaries of a country in which the franchisor is based offers many other opportunities. Ranking top is the prospect of increasing sales and profits by taking advantage of new target audience.
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Malaysia witnessed yet again the annual Franchise International Malaysia 2010 (FIM2010) over the last weekend (30th July – 1st Aug 2010) which was organised by the Malaysian Franchise Association (MFA); the Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC) and Perbadanan Nasional Berhad (PNS) – a government agency tasked to lead the franchise sector development. This is the 17th exhibition and conference and is rated by the World Franchise Council as a four‑star franchise exhibition.
Read more about What’s Next After FIM2010?
