Speech by MOS Low Yen Ling at the FLA Awards 2023 Ceremony & Gala Dinner

Mr. Dickson Low, President, Franchising and Licensing Association (Singapore)

Distinguished Guests,

Ladies and gentlemen,

Introduction

1. A very good evening. I am delighted to join you for the FLA Awards 2023 ceremony and gala dinner. Tonight, we gather to celebrate the achievements and successes of the franchising and licensing industry in Singapore and beyond.

2. Franchising and licensing drive growth and innovation in our economy. Such activities offer opportunities for entrepreneurs to expand their businesses, create jobs, and contribute to the overall development of our economy.

Celebrating Singapore’s Success Story

3. Tonight, 24 awards across 11 categories recognising 13 companies and ten brands will be presented. I would like to highlight two exemplary brands that built their franchises to scale and grow their businesses successfully.

  a. One of them is the popular Jumbo Seafood restaurant - a favourite among locals and overseas visitors looking to savour the chilli crab. Using licensing and franchising as a key growth strategy, Jumbo has successfully established a remarkable network of over 45 F&B establishments across China, Taiwan, Japan, South Korea, Thailand, Vietnam and Cambodia.

  b. The other is 7-Eleven Singapore – A member of DFI Retail Group that has won 70% market share of the convenience shop chain. Since its first store in Singapore 35 years ago, the group has grown by offering franchise packages that provide unique opportunities to aspiring entrepreneurs. For example, 7-Eleven offers the Franchisepreneur Management Trainee Programme (FMTP) to fresh graduates with less than 6 years of working experience who aspires to become entrepreneurs but have limited funds. Under the FMTP, the franchise fee of at least $30K is waived and franchisees only pay a refundable capital of $20K. Today, 7-Eleven has nearly 500 shops island-wide, of which more than half are franchisees.

4. Behind these successful brands are those who play a pivotal role in the company’s expansion, success, and achievement. I am pleased that FLA has brought back three award categories to recognise the individuals and leaders who have contributed to their companies’ success.

  a. The Franchise Executive Award honours individuals who significantly contributed to their companies’ expansion and achievements.

  b. The Franchise Manager Award recognises individuals who have played an instrumental role in managing & building Singapore franchises.

c. The Franchise Leader Award acknowledges distinguished franchisors with a strong reputation for expanding Singapore brands internationally and implementing franchise systems and processes to improve standards.

5. With talented leaders and managers, businesses can effectively replicate their success recipe to expand into new markets.

FLA (Singapore) supports companies in building their franchise capabilities and regional expansion

6. Helping our Singapore brands scale new heights is FLA (Singapore). Its support is instrumental to companies and individuals expanding their business through franchising and licensing. The Association continues to strengthen its members’ capabilities and widen the network of opportunities for overseas growth.

7. Since gaining their Approved Training Organisation (ATO) accreditation in 2020, FLA (Singapore) has steadily increased their Workforce Skills Qualifications (WSQ) Franchise Course offerings. I am happy to learn that FLA (Singapore) is on track to double the number of trainees this year to 177.

8. In the next three years, EnterpriseSG will continue to work with FLA (Singapore) on several initiatives. This includes developing partnerships with multipliers, overseas associations and in-market partners to increase FLA’s touchpoints with the industry. In addition, new WSQ courses will be launched, like those teaching how to use licensing as a business opportunity and strategy. I encourage companies to take advantage of these training resources by FLA (Singapore) to harness franchising and licensing to expand their business.

9. Another key role of FLA (Singapore) is to help Singapore internationalise. It leads Singapore businesses to overseas franchise tradeshows and conducts deep-dive workshops on various markets. This year, FLA (Singapore) led a group of companies to exhibit at franchise tradeshows in Japan and the Philippines. I encourage business owners to contact FLA (Singapore) to showcase their brand overseas and engage with potential in-market partners.

Conclusion

10. I commend FLA (Singapore) for organising tonight’s awards ceremony. Congratulations to all the winners on your achievements! I wish you much success in building your franchise and growing your brand across the region, internationally and beyond Singapore.

11. Have a wonderful evening ahead. Thank you.