Franchising: Govt Backing Spurs Industry’s Outlook

Business Times:

The future looks bright for Malaysia’s franchise sector with the government’s full backing and a sizeable budget for development.

Francorp Malaysia Sdn Bhd president and chief executive officer Affandy Faiz said the sector is growing rapidly, as seen in the significant increase of local franchisees in the past 5 years.

‘The strength of the sector lies in the 100% support from the government, higher allocation under the Ninth Malaysia Plan and the involvement of many government agencies in franchise development,’ he said in an interview with Business Times.

Franchise consultancy firm Francorp Malaysia is the master franchisee of the US-based Francorp Inc for Malaysia, Singapore, Thailand and Indonesia.

Affandy, who is a certified franchise executive, said the franchise industry used to be dominated by the food sector, with 60 to 75% share.