Aiming to bolster its capabilities, the Commerce Ministry is ready to improve franchise companies, hasten the creation of franchise business requirements, and foster relationships with home and worldwide buyers. The technique is designed to increase the market and stimulate financial worth.

The Director-Common of the Business Growth Division beneath the Commerce Ministry, Auramon Supthaweethum, highlighted the attraction of the franchise business mannequin to these new to entrepreneurship. She revealed that every yr, over 20,000 aspiring entrepreneurs categorical curiosity within the franchise business area, which boasts a formidable annual progress price of 15-20%.

Auramon views the franchise sector as a important driver of the nation’s financial progress.

“Growing the franchise business to worldwide requirements is important.”

The Business Growth Division, beneath Auramon’s steering, has launched the Franchise Normal programme. The initiative goals to reinforce the capabilities of franchise business operators, promote international high quality requirements, foster client and franchisee belief, and thereby assist propel the nation’s financial system ahead steadily and sustainably.

Franchisees taking part within the programme will profit from data and expertise improvement, professional evaluation of their strengths and weaknesses, complete consultations at their business premises, and publicity to finest business practices.

To be eligible for the programme, members will need to have operated a franchise business for at the least three years, personal at the least two franchise branches, personal at the least one self-owned department, have registered logos (or are within the technique of making use of for them), and have the ability to take part all through the programme.

Auramon famous that over the previous decade, the division has been creating the capabilities of franchise business administration, and presently, 525 franchise companies meet high quality administration requirements. The division opinions and updates these requirements biennially to make sure alignment with international benchmarks.

Thailand’s franchise business market is presently valued at roughly 300 billion baht, with this yr’s progress predicted to succeed in 15-20% from the earlier yr, reported Bangkok Publish.

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