SINGAPORE, (ANTARA/PRNewswire) — The countdown has begun for Franchise and Licensing Asia (FLAsia) 2024, one of the region's most anticipated trade events for franchising and licensing. Organized by the Franchise and Licensing Association (Singapore) and Constellar, FLAsia 2024 will take place from 12-14 September at the Sands Expo and Convention Centre. The trade event provides an unparalleled opportunity for entrepreneurs and investors to connect with leading brands looking to expand into the rapidly growing Asia Pacific consumer market.
Asia continues to be a key driver of global economic growth, with increasingly affluent millennials, Gen Z consumers and a burgeoning middle class shaping global consumption patterns and driving demand for quality services and products across sectors including beauty and health, education, food and beverage and technology, which are key exhibitor profiles at FLAsia 2024.
Gen Z accounts for 23.2% of the world's population and is expected to spend an estimated US$12 trillion by 2030, making them the largest consumer spender in many regions. The majority of this generation's total spending will come from non-Western countries(1). This makes Asia one of the most lucrative regions, creating huge opportunities for local and global brands to expand beyond their familiar markets and target Gen Z through franchising and licensing, potentially making this a lucrative business model in Asia(2).
Franchises and licenses promote business stability and wealth growth
There are approximately 33.2 million small businesses in the United States, of which only 2.4% (more than 806,000) are franchised. Meanwhile, in Asia, China leads the Asian franchise market with more than 4,000 franchise brands and 500,000 franchised stores. Southeast Asia is also home to more than 4,500 franchise systems and more than 160,000 franchisee businesses. Combined with the rapid increase in franchising in India, Japan, South Korea and Taiwan in recent years, Asia now accounts for more than 30% of franchise businesses worldwide, establishing itself as a lucrative market for franchising supported by robust growth potential (3).
Against this backdrop, franchising and licensing are also becoming viable and accessible options for younger, financially savvy individuals looking to monetize and grow their wealth as business owners.(4) An increasingly attractive alternative route to entrepreneurship, franchising and licensing significantly reduce risk and increase the chances of building a successful and rewarding career as a business owner.
Franchising and licensing increase the stability and growth of your business by leveraging the recognition of an established master brand, increased brand impact through extensive marketing activities, training and comprehensive support throughout your business journey.Furthermore, franchisees and licensees benefit by joining a business and brand that resonates with their ambitions, aspirations and ethics.
“As a springboard to the vast Asian consumer market, Singapore is a strategic market and launch pad for master franchisors and aspiring entrepreneurs. The city's business-friendly environment and stability provides a favourable environment for growth in the region. FLAsia 2024 aims to be a key platform for knowledge exchange and business networking for franchisors and franchisees to explore inspiring partnerships,” said Mr Dickson Loh, chairman of the Franchise and Licensing Association (Singapore).
FLAsia 2024 Highlights
FLAsia 2024 is expected to feature more than 300 franchise brands and licensable characters from 150 exhibitors, including international franchises from Hong Kong, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, the United States and Vietnam, making FLAsia 2024 the most international franchise show in the region(5).
Best practices and franchise journeys to be shared extensively at FLAsia 2024 Conference, Workshops and Fresh! Brands Showcase: With a focus on strengthening the resilience of franchise operations, this year's conference and workshops will delve into dynamic discussions, practical workshops and insightful case studies to provide franchisors and franchisees with strategies and solutions to address and overcome challenges. Emerging brands with innovative F&B concepts and cutting-edge technology solutions can also showcase their brands at the Fresh! Brands Showcase. These sessions include: Panel discussions with Anytime Fitness Singapore and Philippines, Fun Learners' School, Ryan's Grocery and 7-Eleven on the benefits of investing in franchises and the benefits and rewards of being a franchisee. Roundtable discussions on the ins and outs of franchising in Indonesia, Malaysia, Thailand and Vietnam, hosted by the Franchise and Licensing Association (Singapore) and facilitated by market experts at each roundtable. Workshops to help aspiring and prospective franchisees at every stage of franchising: from understanding the investment profile, to identifying suitable franchises for acquisition, franchise recruitment and relationship management, to franchisee and franchisor conflict management strategies and communication techniques. Unparalleled insights and opportunities in character licensing: Bandai Namco introduces Pac-Man and Tamagotchi, licensable characters that can be licensed. Licensees can design, create and retail co-branded goods and products. As an agent for character licensors, XM Studios connects licensors and licensees to explore partnership opportunities. To further empower and prepare participants for this unique adventure, XM Studios and FT Consulting will lead a panel discussion at the FLA 2024 conference to explore innovative licensing models and strategic brand collaborations that unlock the growth potential of goods and product licensing(6). Direct on-site access to franchisors: FLAsia 2024 will provide direct access to emerging and established brands in key areas of growing consumer demand from Asia: beauty & wellness, education, food & beverage, health and retail. Franchise brands seeking potential franchisees outside 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 and The GearBox (by MK Group). For F&B brands, attendees will get a better understanding of the brand experience and the actual product, allowing them to make a more informed decision when considering their franchising intentions.
For the latest updates on FLAsia 2024, please visit us on Linkedin and Facebook . To register, please visit the FLAsia website
For media inquiries or interview requests, please contact the Constellar Communications team at [email protected].
About the Franchise and Licensing Association (Singapore)
FLA (Singapore) is one of the founding members of the World Franchise Council and was established in 1993 with the mission of nurturing and developing Singapore's franchise industry. A key component of Singapore's knowledge economy, FLA (Singapore) promotes the use of franchising, licensing and branding as a growth strategy for Singapore businesses, helping to transform Singapore into a regional franchising and licensing hub. Through partnerships with Singapore government agencies and international franchise and licensing bodies, FLA (Singapore) also supports its members' international development programs. With a vibrant and growing membership of around 150 companies representing over 250 strong brands, FLA (Singapore) is led and managed by a dedicated team of advisors, committee members and a full-time secretariat with the goal of supporting Singapore businesses in their international expansion. https://www.flasingapore.org/
About Constellar
Constellar is Asia's preferred partner in business convening, idea curation and opportunity creation for sustainable business growth and global impact. Based in Singapore with regional hubs in China and Malaysia, we connect global markets in areas such as Fintech, industry transformation and ESG, curating and developing impactful trade and consumer events for key industries. We also operate Singapore EXPO, Singapore's largest dedicated MICE (Meetings, Incentives, Conventions and Exhibitions) venue. Our vision is to be a global leader from Asia, activating influential networks that enable cross-industry collaboration and innovation through our comprehensive portfolio of intellectual property (IP) in the MICE industry. For more information, please visit Constellar.co.
(1) These observations were made in a 2024 Gen Z market research report by Nielsen IQ and World Data Lab, which also noted that only 44% of Gen Z’s total spending will come from Western countries (North America and the EU).
(2) These observations include franchised tea chains Nayuki, Hey Tea, and Mixue Bingcheng expanding into Southeast Asia; 40-year-old Thai fast food chicken franchise Five Star aiming to have 11,500 stores across 10 countries by 2024; Australian doughnut chain Lukumades (with franchises in Indonesia, Malaysia, Taiwan and the UAE) recently opened its first franchise store in Singapore; US bakery chain Sprinkles has expanded into South Korea and is expanding into Singapore and Malaysia; Kusto Group expanding the presence of its restaurant chain Wendy's into Central Asia with plans to have 55 stores in Uzbekistan and Kazakhstan by 2030; and Wyndham Hotels & Resorts identifying Singapore as a key strategic market and introducing the Wyndham brand to Asia with the opening of Wyndham Singapore (formerly The Peninsula Excelsior Singapore).
(3) Franchising.com reports that the Asian franchise industry has grown rapidly in recent years, with the Asia Pacific region establishing itself as a global leader in the franchise market. India is the third largest market after the United States and China, with more than 4,600 franchisors and approximately 200,000 stores operated by approximately 170,000 franchisees. Japan is a major player in the Asian franchise industry, boasting more than 1,500 franchise brands and 240,000 franchised stores. South Korea has seen a 50% increase in franchise brands since 2010, and Taiwan has seen a 20% increase in franchise brands since 2010.
(4) Entrepreneur.com and Forbes have recently noted that franchising is a viable way for investors to diversify their investment portfolios and build generational wealth by combining the right strategy with the right franchise. Entrepreneur.com even featured working couple Nadine and James Middleton, who became successful entrepreneurs and built generational wealth through franchising.
(5) Franchising & Licensing Asia 2023 featured franchises and licensable characters from over 105 exhibitors and five country pavilions, as well as first-hand business insights from 46 experts at the FLA Conference, Workshops and Fresh! Brand Showcase. The event attracted more than 6,500 attendees and hosted more than 300 business meetings and tours.
(6) FT Consulting provides franchise, branding and intellectual property strategy and services to companies in Southeast Asia, while XM Studios is an award-winning producer of premium hand-drawn art collections of characters from DC Comics, Marvel, Transformers, etc.
Source: Constella
Reporter: PR Wire
Editor: PRWire
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