Vietnam has huge franchising potential
With its high economic growth rate and a population of over 90 million, 60% of whom are young consumers, Vietnam has become an increasingly attractive destination for many international franchising and retail businesses.
Many have come already, Yvonne Chan, deputy consul-general (commercial) and senior Trade Commissioner at the Australian Trade and Investment Commission, told a seminar in Ho Chi Minh City on November 15.
Australia is one of the most developed franchise nations in the world, she said, adding that the majority of the franchises are local and successfully expanding abroad.
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The seminar, organised by VF Franchise Consulting, was attended by executives from many leading US, Australian, and Asian franchises in the food and beverage, education and training, and fitness and services sectors that are looking for local franchisees.
Khoo Teck Kim of Australia’s Retail Food Group said his company is looking for franchise partners in Vietnam and Southeast Asia for its Crust Gourmet Pizza Bar, Pizza Capers, Donut King, Brumby’s and Michel’s Patisserie brands.
Philipp Steinke of the Edge, a Hong-Kong based learning centre designed to help students get into top universities in the US, UK and Canada, said his company is looking to expand its operations across Southeast Asia through franchising.
According to experts, the food and beverage industry has seen franchising develop strongly in Vietnam, especially in the fast food segment.
