Successful franchise players urged to share experiences in Malaysia
MALAYSIA Franchise Association (MFA) is urging both successful franchisors and franchisees to come forward and share their success stories to further promote the lucrative franchising industry.By sharing their accomplishments, chairman Datuk Mukhriz Mahathir said it will inevitably attract more interested parties to participate in this business.
“Most of the time, a failed franchise business is often highlighted which will only discourage those who are interested in the business,” he said in Kuala Lumpur yesterday.
“People also often get the wrong impression that franchising is a cash cow, when actually it is a lot more than that,” he added.
To encourage participation in the industry, MFA is looking at teaming up with Bank Perusahaan Kecil & Sederhana Malaysia Bhd (SME Bank) to assist the bank in meeting prospective franchise business players’ needs to participate in the business.
The association is currently training over 100 SME Bank staff to raise the level of awareness and understanding of the industry so that it will be able to provide an enhanced package to spur growth in this sector.
We are also looking at other banks … to assist them in providing the industry insights so that they could immediately tackle the problems faced by industry players,” Mukhriz said.
Under the Ninth Malaysia Plan, the Government hopes to developed 50 homegrown franchisors and about 1,000 franchisees. There are currently 261 registered franchise systems in the country.
Mukhriz yesterday received 50 Smart Reader Kids franchisees who submitted their membership application to join MFA.
Related posts:
- Huge Opportunity For Foreign Companies To Start Franchises In Malaysia Bernama: The recent liberalisation of 27 services sub-sectors provides...
- New Franchise Opportunities With Successful Franchise Companies Putting People Back To Work Emailwire: New franchise opportunities and lead website for franchisors, FranchisesforSale,...
- How To Be A Successful Franchisor NuWire Investor: Franchisee Selection Process Smart franchisors are very...
Related posts brought to you by Yet Another Related Posts Plugin.
