Author: Tronserve admin
Wednesday 4th August 2021 11:08 AM
Vietnam Franchise Opportunities Booming
Fourteen foreign manufacturers are looking for Vietnam franchise partners. The brands will gather at VF Franchise Consulting headquarters in Ho Chi Minh City on July 9 to meet up with prospective area or master franchisees for the market. The franchises are in the food-and-beverage sector, education, services, and come from the US, Taiwan, Thailand, Singapore, India and Japan.
Of the 14 brands, 11 are in the retail space:
* ACE International, a home-improvement franchise with more than 5200 stores in more than 60 countries.
* Little Caesars Pizza, a takeaway pizza chain from the US.
* Coldstone Creamery, a premium ice-cream chain from the US.
* Mango Tree, a Thai casual-dining business from Thailand.
* Mango Chili, a fast-casual Thai dining chain.
* Cha Ji Tang, a Taiwanese fragrant hot-and-cold herbal/flower tea cafe.
* Yang Xiang Ting, a Taiwanese dim sum conveyor-belt restaurant concept.
* Fidele, an American-inspired seafood, and pizza chain.
* Bing Girl, a Taiwanese sweet dessert cafe.
* Machida Shoten, a Japanese ramen chain.
* Mennya Kokoro, a popular Japanese dry-ramen chain.
In accordance with Vietnam’s Ministry of Industry and Trade, there are already at least 200 foreign brands registered in Vietnam, and the amount of international brands looking for to go onto Vietnam continues to grow by 15–20 percent per annum. “With nearly 95 million citizens, Vietnam has one of the fastest growth rates when it comes to franchising and licensing,” says Sean T Ngo, founder, and CEO of VF Franchise Consulting.
“Franchises that do well are in the food-and-beverage, education, retail, and services sectors. Goldman Sachs predicts Vietnam will be the 20th largest economy in the world by the year 2050.” The leading Thai company, Mango Tree, are likely to be seeking its first franchisee for its Vietnam branch.
“Mango Tree is one of the world’s most innovative and best-known Thai culinary lifestyle brands, serving contemporary Thai cuisine from authentic classics to modern updates to old favorites, complemented by creative mixology, expertly curated music, and buzzing locations,” said Trevor MacKenzie, Mango Tree’s MD. The company has already expanded into Hong Kong and Macau. Taiwanese bubble-milk tea chain Cha Ji Tang already has stores in Taiwan and Vietnam, and is in discussions over outlets in the Philippines, Korea, and Japan.
“We are very excited about introducing our successful F&B franchises (Cha Ji Tang, Bingirl, Yan Xiang Ting, and Fidele) to Vietnam,” said Andy Hsu, owner of Reng Feng Brands, the parent company of Cha Ji Tang.
“Taiwanese food and drinks are very popular in many countries, and we believe many Vietnamese will appreciate and enjoy authentic cuisine from Taiwan.” The lowest investment levels for the 14 franchise brands range from US$300,000 to $3 million.