Straits Times:

The booming franchise industry in Singapore is set to get a lift in standards with the launch of Singapore’s first certified programme to train industry professionals.

Some observers say Singapore is shaping up as a regional hub for franchising – which is when a new outlet of an existing business, such as a restaurant chain, is sold to a budding entrepreneur.

The Certified Franchise Executive (CFE) Programme, launched on Thursday, aims to train and equip franchise industry professionals with the necessary knowledge and skills in areas such as operations, finance and international development.

Officiating the opening of Franchise & Licensing Asia (FLAsia) 2009 at Suntec Convention Centre, Senior Minister of State for Trade and Industry and Education S. Iswaran said the minimal investment and labour costs of franchising made it a preferred strategy for small and medium enterprises.