In the fast-growing franchise industry, finding good partners and staff are the main challenges.
That applies to both franchisors with a road-tested business template to sell and franchisees who buy these business outlets as a way to becoming their own bosses.
This was the message from the winners of the Franchising and Licensing Association (FLA) Awards presentation ceremony at Swissotel The Stamford last night.
Four awards were handed out this year.
The inaugural Franchisee of the Year title was given to Mr Nallakaruppan, owner of five local 7-Eleven stores.
The Franchisor of the Year was V-Kool, which produces solar heat control films to keep cars cool.
The Promising Franchisor of the Year was won by Waraku International, which serves Japanese-style pasta and pizza.
Finally, the International Franchisor of the Year award went to the Little Sheep catering chain of Inner Mongolian hotpot restaurants.
Mr Wilson Lim, V-Kool’s general manager, said: ‘One of the challenges we face as a franchisor is finding good partners.’
‘We need to have people on the ground to implement corporate identity and good customer practices and ensure that the brand experience enjoyed in Singapore would be the same,’ he added, referring to international franchisees. Read full article.
Photo: Lianhe Zaobao.