The overwhelming success of a famous local bakery store in Singapore that has expanded in 9 other countries resulted from a single branch that only started 8 years ago. You can find 7-11 stores in almost every corner of the streets locally and internationally, deriving from the fact that it started from a store selling ice blocks. Giant brands did not always start big in their industry. They all started with a good idea through an outlet.
Franchising and Licensing Association (FLA) Singapore invited business consulting firm, Astreem Corporation to present on “How to Market Your Franchise & Develop Your Master Franchise Structure”. The seminar was held at the National Library Board on 29th May 2008. Attendees were invited by FLA and are mainly from companies that have business investments, are intending to go into franchising, already franchising and want to go international and a few that are already franchising overseas. The speakers who presented in the seminar were franchise consultants, Felipe Matibag, Senior Consultant of Astreem and Hsien Naidu, Director and Founder of Astreem. Topics covered in the seminar were:
- Basic principles of international franchising & franchise business opportunities
- Checking readiness to franchise overseas & franchise opportunities
- Developing the rules of engagement through management consulting
- Determining sources of revenue and fee structure
- Preparing financial models with business consultants
- Setting up the Master Franchise operations with franchise consultants
- Marketing your franchise with marketing consultants
Mr Matibag believes that the seminar was very helpful in spreading the gospel of international franchising. “There are many well-established local franchise opportunities that will be very successful overseas and they need to see the benefits of doing it and the processes involved. Most of our Asian neighbours view Singapore franchise opportunities as very good source of franchised brands to grow in their respective countries. One reason is that they consider Singaporean brands to be as good as successful as US and European brands yet less expensive and more suited to the Asian taste.”
“To build a successful franchise chain, you must be a relentless brand builder and self-promoter. You need a clear brand image, a powerful brand message and a strategy for communicating it to the world which Astreem’s marketing consultants are well-trained at,” stated Mrs Naidu.
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