7 August 2018
Spire explains market opportunities in Australia for Malaysian franchisors
Spire Research and Consulting was invited to speak at a Malaysian Franchise Association (MFA) symposium held jointly with the Ministry of Domestic Trade and Consumer Affairs on 7 August. Deric Yeo was the event moderator and Aqilah Binti Zamri (Analyst at Spire Malaysia), Terry Lim from Global Art, MATRADE’s Pn. Anisah Ali and Pn. Noor Asiah Mahmud were panel speakers. The speakers shared their insights on market opportunities and challenges in Australia facing Malaysian franchisors.
The speakers shared insights on market opportunities in Australia for Malaysian franchisors.
Australians are increasingly dining out. As much as two thirds of the population (over 14 years of age) dine out at least once a month. To put this into perspective, the average personal consumption stands at around USD11 for fast food, USD7-10 for casual dining and USD 5-10 for snacks or desserts.
1,089 business franchisors ply their trade in Australia, of which 10% are foreign brands and 90% local brands.
Industries with the potential for franchise development in Australia include retail, restaurants, catering as well as support and administrative services, to name a few.
For Malaysian companies looking to enter Australia’s market, it is advisable to invest in searching for the right franchisees and to establish a strong business in Malaysia first.
Nonetheless, challenges remain. The Australian government has enacted strict regulations pertaining to franchise rights. Hence, consulting local legal advisors is a must.
In 2015, the MFA and the Ministry of Domestic Trade and Consumer Affairs jointly launched the Enhanced Franchise Development Plan (EFDP) to assist Malaysian franchise brands to enter the Australian market.
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Manager, Group Corporate Communications
Spire Research and Consulting
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Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.