Thailand franchise market predicted to grow
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Thailand franchise consultancy Gnosis Co expects a healthy market for franchises in the country. Gnosis MD Sethaphong Phadungpisuth said more than 50 chains from both local and international brands are exploring the market this year following measures to ease regulations on the part of the Business Development Department.
“The Thailand franchise market will become more active this year. We expect the overall number of new franchise brands both from abroad and the domestic market that will open their franchise in Thailand this year to increase by 10 per cent to about 630 brands”, he said.
According to Gnosis, some brands have chosen Thailand as a springboard to other Asean countries, in particular Myanmar and Laos.
Among those diverse brands set to start operations in Thailand this year include Taco Bell, The Edge Learning Centre, and Singaporean hygiene and disinfection products firm Sureclean. Additionally the number of Taiwanese milk tea chains continues to increase in the territory.
Franchise business in Thailand is estimated to be valued at THB250-300 billion (US$7.84 billion).
Questions & Answers
Q.What is the expected increase in the number of new franchise brands opening in Thailand this year?
What is the expected increase in the number of new franchise brands opening in Thailand this year?
Gnosis Co, a Thailand franchise consultancy, predicts a 10 per cent increase in new franchise brands this year. This uplift will bring the total number of brands, both domestic and international, to approximately 630 operating within the market.
Q.Which international brands are mentioned as exploring the Thai market or starting operations this year?
Which international brands are mentioned as exploring the Thai market or starting operations this year?
The article specifically names Taco Bell, The Edge Learning Centre, and Sureclean, a Singaporean hygiene and disinfection products firm. Also, it notes a continued rise in the number of Taiwanese milk tea chains entering the market.
Q.What is the estimated value of the franchise business in Thailand?
What is the estimated value of the franchise business in Thailand?
The franchise business in Thailand is estimated to be worth between THB250-300 billion. This figure translates to approximately US$7.84 billion, reflecting a significant market value within the country.
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