Mukhriz: Malaysian franchise industry will grow

 

THE local franchise industry will still register sales growth this year, despite the economic slowdown, Malaysian Franchise Association (MFA) chairman Datuk Mukhriz Mahathir said.

He is optimistic that the government's target of creating 50 Bumiputera franchisors and 1,000 Bumiputera franchisees during the Ninth Malaysia Plan (9MP: 2006-2010) is still achievable.

Mukhriz's confidence is based on the industry's ability to adapt to changes.

"The industry has been growing 15 per cent annually for the past few years. In this current economic situation, the industry will still grow, even if it is not double-digit," he told a news conference in Kuala Lumpur yesterday.

Mukhriz said the concerted efforts between MFA, Entrepreneur and Cooperative Development Ministry and Perbadanan Nasional Bhd would help the local franchise industry to weather the economic slowdown.

He said MFA found increasing interest from people aspiring to open up franchise businesses. In fact, the current challenging time provides an opportunity for people interested in starting their own business to opt for franchises as it has a proven system while the risks are calculated.

Meanwhile, Mukhriz said 14 franchise brands have been shortlisted as finalists - from 140 qualified franchises - for the 11th Malaysia Franchise Awards.

They include Smart Reader, Daily Fresh, Hotel Seri Malaysia, Reliance, Wassiyah Shoppe, Secret Recipe, Jatimas, Q-Dees, Otai Burger, Takzim Textile and TGI Fridays.

"The quality and number of participants for the awards has increased significantly from the previous awards," he said.

The 11th Malaysia Franchise Awards, themed "Franchise Makes Sense", will be held on Wednesday in Kuala Lumpur.