Sandakan, 27 May 2022,
The franchise industry is able to grow faster in Sabah and Sarawak, where the industry has the potential to produce entrepreneurs that can be successful even abroad.
Minister of Domestic Trade and Consumers Affairs Dato Sri Alexander Nanta Linggi said Sabah and Sarawak have still not been exposed to the franchise industry to a satisfactory level but there is room and opportunity for development.
“If we look at how this industry is growing rapidly elsewhere, especially in the Peninsula, there is space and opportunity for us (entrepreneurs) in Sabah and Sarawak.
“Overseas, brands from Malaysia are already established in 72 countries…we are developing this industry so that there are more new brands and products that we can bring and introduce locally and abroad,” he told reporters after officiating tea drink brand Tealive’s new outlet at Hotel Elopura here last night.
He said a fund of RM8 million allocated last year for the development of the industry has spawned many franchisees and his ministry would apply for more funds from the government to boost the industry.
Meanwhile, founder and chief executive officer of Loob Holding Sdn Bhd, the owner of Tealive brand, Bryan Loo said the company planned to open 12 more franchised branches in Sabah by next year.
He said currently, there are 47 branches of the beverage brand in 14 towns in the state.
“As a brand that was ‘born in Malaysia, raised for the world’, Tealive appreciates the tremendous support among tea lovers in Sabah, which allows us to grow consistently and extend our reach to the city and suburbs,” he added. — Bernama
Source: The Borneo Post
Full Article: https://www.theborneopost.com/2022/05/27/franchise-industry-can-grow-rapidly-in-sabah-sarawak-says-nanta/