Singapore, 7 August 2024,
The countdown has begun for Franchising and Licensing Asia (FLAsia) 2024 – one of the region’s most anticipated trade events for franchising and licensing. Organised by the Franchising and Licensing Association (Singapore) and Constellar, FLAsia 2024 will take place at Sands Expo & Convention Centre from September 12 to 14. The trade event offers unparalleled opportunities for entrepreneurs and investors to connect with leading brands looking to expand across the rapidly growing Asia Pacific consumer market.
Asia’s Gen Z Driving Future Consumption Demand and Retail Trends
As Asia continues to be a key driver of global economic growth, its increasingly affluent millennials, Gen Z consumers and the burgeoning middle class are shaping global consumption patterns and driving demand for quality services and products across various sectors. These include beauty and wellness, education, food and beverages, and technology – which are leading exhibitor profiles at FLAsia 2024.
Gen Zs will account for 23.2 percent of the global population and spending an estimated US$12 trillion by 2030, becoming the highest consumer spending class in many regions. Much of the total spending by this population will also be from non-Western countries. This makes Asia one of the most lucrative regions with vast opportunities for homegrown and global brands to expand beyond their familiar markets and target Gen Zs through franchising & licensing, therefore increasing their potential as lucrative business models in Asia.
Franchising & Licensing Boosts Business Stability and Wealth Growth
The United States of America is home to about 33.2 million small businesses, with only 2.4 percent (or over 806K) are franchises. While in Asia, China leads the Asian franchise market with over 4,000 franchise brands and 500,000 franchise outlets. Southeast Asia also hosts over 4,500 franchise systems with more than 160,000 franchisee firms. Coupled with a robust surge in franchising within India, Japan, South Korea and Taiwan in recent years, Asia now contributes to over 30 percent of all franchised businesses worldwide, establishing itself as a lucrative market for franchising undergirded by robust growth potential.
Against this backdrop, franchising & licensing is also becoming a viable and accessible option for financially-savvy younger generations seeking to monetise and grow their accumulated wealth as business owners. An increasingly attractive alternative pathway to entrepreneurship, franchising & licensing significantly reduces risk and enhances the potential for a successful and rewarding career as a business owner.
Franchising & licensing offer more business stability and growth, while leveraging on the established master brand recognition, multiplier brand impact from wider marketing efforts, as well as training and comprehensive support offered across the business journey. Additionally, the benefits include enabling franchisees and licensees to be part of businesses and brands that resonate with their ambitions, aspirations and ethics.
“As the springboard to the vast Asian consumer market, Singapore is a strategic market and launchpad for master franchisors and aspiring entrepreneurs. The city’s pro-business environment and stability offer a favourable climate for regional growth. FLAsia 2024 aims to be the essential platform for knowledge exchange and business networking for franchisors and franchisees to explore exciting partnerships,” said Mr Dickson Low, President of the Franchising and Licensing Association (Singapore).
FLAsia 2024 Highlights
FLAsia 2024 expects to feature over 300 franchise brands and licensable characters by 150 exhibitors, including international franchises from Hong Kong, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, United States of America and Vietnam, enabling FLAsia 2024 as the most international franchising show in the region.
Extensive Best Practices and Franchise Journeys Sharing at FLAsia 2024 Conference, Workshop and Fresh! Brands Showcase: Focusing on strengthening resilience in the franchising business, this year’s conference and workshop delves into dynamic discussions, hands-on workshops and insightful case studies to empower franchisors and franchisees with strategies and solutions to address and overcome challenges. Emerging brands with innovative F&B concepts and cutting-edge tech solutions can also pitch their brands at the Fresh! Brands Showcase. These sessions include:
- Panel Discussion on the advantages of investing in franchises, and the benefits and rewards as a franchisee, with Anytime Fitness Singapore and Philippines, Fun Learners’ School, Ryan’s Grocery and 7-Eleven;
- Roundtable Discussions on the ins-and-outs of franchising in Indonesia, Malaysia, Thailand and Vietnam, hosted by the Franchising and Licensing Association (Singapore) and helmed by in-market experts at each roundtable;
- Workshops that empower aspiring and prospective franchisees at every stage of the franchising journey: From understanding investment profiles to identify suitable franchises for acquisitions, franchise recruitment and relationship management, as well as conflict management strategies and communication techniques for franchisees and franchisors.
Unparalleled Insights and Opportunities for Character Licensing: Bandai Namco will be showcasing its licensable characters – Pac Man and Tamagotchi, for which the licenses can be acquired. Licensees can then design and create co-branded merchandise and products for retail sale. As an agent for character licensors, XM Studios seeks to connect licensors and licensees to explore partnership opportunities. To further empower and equip attendees for this unique adventure, XM Studios and FT Consulting will be helming a panel discussion at the FLA 2024 conference to explore innovative licensing models and strategic brand collaborations that will unlock growth potential for merchandise and product licensing.
Direct Access to Franchisors Onsite: FLAsia 2024 provides direct access to new and established brands in key sectors experiencing higher consumer demand from Asia; namely beauty & wellness, education, food & beverage, health and retail. The franchise brands seeking potential franchisees beyond their home countries include Appzgate, Dian Xiao Er, EAT Pizza, Figaro Coffee, Grains & Co, Greendot, Hawker Chan, Lee Wee & Brothers, Moon Eat Mountain Shawarma, Shen Mo Education Group, The GearBox (by MK Group) and more.
Source : The Malaysian Reserve
Full Article : https://themalaysianreserve.com/2024/08/07/empowering-entrepreneurs-flasia-2024-to-ignite-franchising-licensing-opportunities-across-asia/#google_vignette
