4 December 2014 – Borneo Post
LABUAN: Franchise business opportunities or franchising can be an attractive entrepreneurial platform for entrepreneurs to start their ventures in the country.
Malaysia Malay Chamber of Commerce Labuan (DPMML) president Datuk Yussof Mohammad said franchising is one of the fastest ways to create entrepreneurs and increase the number of middle-class entrepreneurs.
“Owning a franchise would mean that the entrepreneur just needs to follow a set of systems set by the franchisors and would not need to invest substantial resources to build their brand or market presence.
It can be a cash-cow if done right,” he told Bernama Wednesday.
He said the cooperative bodies in Labuan must not be a mere observer but should venture into franchise chains.
“Franchising has a bright future due to the rapid development of the business model, coupled with the government’s various assistance schemes to assist the business community venturing into this sector,” he said.
He said Labuan is popular and its local produce have gained popularity among Chinese consumers.
“We have received a large volume of orders for our local products like ‘amplang’, ‘kuih cincin’ and fish tempura but our entrepreneurs are unable to cope with the large volume.
This will impede our efforts to develop our local entrepreneurs,” he said.
Labuan Corporation chief executive officer Datuk Mohd Nadzri Osman said the cooperative sector has played a greater role in the national economy, being the third contributor to the country’s coffer.
Therefore, he said the Cooperative Commission of Malaysia (CCM) is now focusing on a competitive business on a large scale to further develop the sector.
Mohd Nadzri said the 27 cooperative bodies in the duty-free island must actively involve in any of CCM’s business programme and business plans especially in the franchise industry.
“The franchise business has the potential to generate revenue to benefit the members and this must be taken into consideration,” he said at the ‘Enhancing of Cooperative Activities’ programme here Monday.
The programme was organised by CCM to brief members of the cooperative bodies in Labuan on the commission’s role and objectives as well as the potential business ventures.
Mohd Nadzri also presented a cheque amounting to RM60,000 to Sekolah Menengah Sains Labuan Bhd for its cooperative activities and programmes. — Bernama