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Franchise Highlight

Seeing the pull factor of franchises

30th December 2021,

VENTURING into a franchise allows new entrepreneurs to grow and master a trade without the associated risks, says Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi.

“Newcomers to a business are offered a structure to initiate, operate and develop the licensed trade based on the business model that the franchisor provides.

“Franchising is a workable option for many people looking to take a step into business,” he advised.

Nanta told StarMetro that franchisors would usually create complete operations handbooks and training courses for franchisees, covering operations, marketing, accounting, promotions and other areas of business development.

“To this end, the government through the federal budget had allocated RM4.5mil to the ministry for the implementation of the Micro Franchise and Affordable Franchises Programme this year.

“We want to encourage the involvement of people in the B40 and M40 groups in franchise businesses, thereby creating more employment opportunities for them.”

He said a franchise trade was planned to enable the business operator to focus on revenue.

“A franchise will see the business operator spend less time and effort to start and operate a business on their own.

“The Micro Franchise and Affordable Franchises Programme has thus been fruitful in directly impacting the speed at which grant recipients are growing their business, which is among the key benchmarks set by the ministry under the 100-day Malaysian Family Aspiration.

Nanta said the programme acted as a “pull factor” in strengthening the franchisee’s economic engine.

“Our aim is to give people an opportunity to progress, whereby the ease of doing business is facilitated and the economic engine will have a positive socioeconomic impact.”

He said the RM4.5mil programme has so far benefitted more than 30 recipients.

“Eight franchisors and 29 franchisees have received government assistance through this programme.

“The government intends to continue with the programme in 2022 and ensure that more people benefit from it, especially the B40 and M40 groups affected by the Covid-19 pandemic.”

The success of the Micro Franchise and Affordable Franchises Programme was one of the 100-day key performance indicators for the ministry.

For grant recipient Mastura Hamzan, 33, who started a House of Mind Excellence (H.O.M.E.) centre – a franchise catering for children aged four to 17 who are taught simple methods of grasping Mathematics – the business has been successful.

“I am thankful to Domestic Trade and Consumer Affairs Ministry for this business opportunity.

“Being in this teaching line helps me nurture young minds and equip them with a good foundation in Mathematics in their pursuit of academic excellence,” she said.

Mastura, a former primary school teacher, added that it was her passion to continue serving as an educator that led her to become a franchisee of H.O.M.E.

Meanwhile, Viknes Gunasagram, 37, said his venture into a food franchise has paved the way for him to own a business, thanks to the ministry.

“With this grant, the government has empowered me to take a bold step towards a promising future,” he added.

The rising prices of essential goods in recent times is another burning issue that the ministry has had to address.

Federation of Malaysian Consumers Associations (Fomca) president Datuk N. Marimuthu said it has been receiving non-stop complaints from the people on how prices have shot up.

“The government must understand that the price hikes are due to accumulated costs at various levels of the supply chain before the essentials reach traders.

“If the government wants to facilitate the supply and availability of basic food items, it must revoke the approval permits imposed on imported items,” he said.

On the matter, Nanta reportedly said the ministry was working to find a complete and comprehensive solution.

As a short-term solution, he said the ministry introduced the Malaysian Family Sales initiative, which offered basic necessities at prices up to 20% lower than the market prices.

The minister also said that his team would hold this in stages in each of the 222 parliamentary constituencies nationwide.

“We need to see how we can overcome this problem in the long term.

“We are worried that if we do not have a long-term solution then these (price increases) can happen at any time,” he added.


Source: The Star

Full Article: https://www.thestar.com.my/metro/metro-news/2021/12/30/seeing-the-pull-factor-of-franchises