The local franchise industry, although still in its infancy, is set to grow significantly in the near future as it is embraced by more local entrepreneurs.
The concept makes it easier for someone to start a business while existing businesses can expand faster. What lies ahead for local franchisors and franchisees? Hamisah Hamid speaks to Malaysian Franchise Association (MFA) chairman Datuk Mukhriz Mahathir on the challenges the industry faces and its future. This is the first of a 2-part interview.
Question: What is your outlook on the growth and challenges of the Malaysian Franchise Industry for 2008?
Answer: I believe franchising can contribute to the Malaysian economy and improving the lives of ordinary Malaysians. It’s a subject that needs a lot of explaining and motivating on the ground. The fact of the matter is that the local franchise industry is just in its early years of development.
There are some challenges that we have identified as impediments to the growth of the industry.
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