{"id":28599,"date":"2024-08-07T06:45:00","date_gmt":"2024-08-07T06:45:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4478499_AE78499_0"},"modified":"2024-08-07T06:45:00","modified_gmt":"2024-08-07T06:45:00","slug":"empowering-entrepreneurs-flasia-2024-to-ignite-franchising-licensing-opportunities-across-asia","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=28599","title":{"rendered":"Empowering Entrepreneurs: FLAsia 2024 to Ignite Franchising & Licensing Opportunities Across Asia"},"content":{"rendered":"\n\n\n
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SINGAPORE<\/span><\/span>, Aug. 7, 2024<\/span><\/span> \/PRNewswire\/ — The countdown has begun for Franchising and Licensing Asia (FLAsia) 2024<\/a> – one of the region’s most anticipated trade events for franchising and licensing. Organised by the Franchising and Licensing Association (Singapore<\/span>) and Constellar, FLAsia 2024 will take place at Sands Expo & Convention Centre<\/b> from September 12 to 14<\/span>. <\/b>The trade event offers unparalleled opportunities for entrepreneurs and investors to connect with leading brands looking to expand across the rapidly growing Asia Pacific<\/span> consumer market.<\/p>\n

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Asia’s<\/span> Gen Z Driving Future Consumption Demand and Retail Trends<\/b><\/p>\n

As Asia<\/span> continues to be a key driver of global economic growth, its increasingly affluent millennials<\/a>, Gen Z consumers<\/a> and the burgeoning middle class are shaping global consumption patterns<\/a> and driving demand for quality services and products across various sectors. These include beauty and wellness, education, food and beverages, and technology \u2013 which are leading exhibitor profiles at FLAsia 2024.<\/p>\n

Gen Zs will account for 23.2 percent of the global population and spending an estimated US$12 trillion<\/span> 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[1]<\/sup>. This makes Asia<\/span> 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<\/span>[2]<\/sup>.<\/p>\n

Franchising & Licensing Boosts Business Stability and Wealth Growth <\/b><\/p>\n

The United States of America<\/span> is home to about 33.2 million small businesses<\/a>, with only 2.4 percent (or over 806K<\/span>) are franchises. While in Asia<\/span>, China<\/span> leads the Asian franchise market with over 4,000 franchise brands and 500,000 franchise outlets. Southeast Asia<\/span> also hosts over 4,500 franchise systems<\/a> with more than 160,000 franchisee firms. Coupled with a robust surge in franchising within India<\/span>, Japan<\/span>, South Korea<\/span> and Taiwan<\/span> in recent years, Asia<\/span> now contributes to over 30 percent of all franchised businesses worldwide, establishing itself as a lucrative market for franchising undergirded by robust growth potential[3]<\/sup>.<\/p>\n

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<\/a> as business owners[4]<\/sup>. 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.<\/p>\n

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.<\/p>\n

“As the springboard to the vast Asian consumer market, Singapore<\/span> 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<\/span>, President of the Franchising and Licensing Association (Singapore<\/span>).<\/p>\n

FLAsia 2024 Highlights<\/b><\/p>\n

FLAsia 2024 expects to feature over 300 franchise brands and licensable characters by 150 exhibitors, including international franchises from Hong Kong<\/span>, Japan<\/span>, Malaysia<\/span>, Philippines<\/span>, Singapore<\/span>, South Korea<\/span>, Taiwan<\/span>, Thailand<\/span>, United States of America<\/span> and Vietnam<\/span>, enabling FLAsia 2024 as the most international franchising show in the region[5]<\/sup>.<\/p>\n