Singapore Franchising Business Continues to Grow

The franchising business in Singapore continues to be promising with more than 30,000 franchisees operating in the country. The sector currently has more than 420 franchise systems with an annual turnover of 5.48 billion Singapore dollars (about 3.63 billion U.S. dollars). Although a large number of franchised brands are still related to the food and beverage industry, other sectors such as education and childcare are fast catching up. Singapore's strategic location, with its pro-business environment, offers a vantage point for existing and new franchisors, locally and overseas, who are seeking to expand into the fast growing Asian economies such as China, India, and Vietnam. Through franchising, a growing number of Singapore companies, like Apex-Pal Holdings Ltd which owns Sakae Sushi, the BreadTalk Group, OSIM International Ltd., have successfully exported their entire business and brand concepts outside of Singapore and built a network of several hundred outlets in many cities across the world.