Franchising – new development trend in Vietnam

Franchising will develop and become a potential business form in Vietnam when the country opens its retail market in 2014.

 This was emphasized at a seminar, “Franchising – new development trends, opportunities and potential”, which was held in HCM City on May 11 by the Trade Promotion Agency under the Ministry of Industry and Trade.

Experts said the trend will also offer chances for local and foreign entrepreneurs to develop their retail networks in Vietnam.

It is estimated that there are now 200 businesses systems in the country using the franchising practice. Franchising is now becoming a more and more popular form of business that helps franchisers develop business chains without increasing investment, thus expanding their operations and increasing the value of their brand names.

Meanwhile, franchise owners will gain experience from major companies, minimize risks they may incur when starting up their business, and benefit from the positive effect of the system.

(VOV)