SINGAPORE , Aug. 7, 2024 /PRNewswire/ — The countdown has begun for Franchising and Licensing Asia (FLAsia) 2024 – one of the region’s most anticipated trade events for franchising and licensing. Organised by the Franchising and Licensing Association ( Singapore ) and Constellar, FLAsia 2024 will take place at Sands Expo & Convention Centre from September 12 to 14 .
The trade event offers unparalleled opportunities for entrepreneurs and investors to connect with leading brands looking to expand across the rapidly growing Asia Pacific consumer market. Asia’s Gen Z Driving Future Consumption Demand and Retail Trends As Asia continues to be a key driver of global economic growth, its increasingly affluent millennials , Gen Z consumers and the burgeoning middle class are shaping global consumption patterns and driving demand for quality services and products across various sectors. These include beauty and wellness, education, food and beverages, and technology – which are leading exhibitor profiles at FLAsia 2024.
Gen Zs will account for 23.2 percent of the global population and spending an estimated US$12 trillion by 2030, becoming the highest consumer spending class in many regions. Much of the total spending by this population will also be from non-Western countries [1] .
This makes Asia one of the most lucrative regions with vast opportunities for homegrown and global brands to expand beyond their familiar markets and target Gen Zs through franchising & licensing, therefore increasing their potential as lucrative business models in Asia [2] . Franchising & Licensing Boosts Business Stability and Wealth Growth The United States of America is home to about 33.2 million small businesses , with only 2.
4 percent (or over 806K ) are franchises. While in Asia , China leads the Asian franchise market with over 4,000 franchise brands and 500,000 franchise outlets. Southeast Asia also hosts over 4,500 franchise systems with more than 160,000 franchisee firms.
Coupled with a robust surge in franchising within India , Japan , South Korea and Taiwan in recent years, Asia now contributes to over 30 percent of all franchised businesses worldwide, establishing itself as a lucrative market for franchising undergirded by robust growth potential [3] . Against this backdrop, franchising & licensing is also becoming a viable and accessible option for financially-savvy younger generations seeking to monetise and grow their accumulated wealth as business owners [4] . An increasingly attractive alternative pathway to entrepreneurship, franchising & licensing significantly reduces risk and enhances the potential for a successful and rewarding career as a business owner.
Franchising & licensing offer more business stability and growth, while leveraging on the established master brand recognition, multiplier brand impact from wider marketing efforts, as well as training and comprehensive support offered across the business journey. Additionally, the benefits include enabling franchisees and licensees to be part of businesses and brands that resonate with their ambitions, aspirations and ethics. “As the springboard to the vast Asian consumer market, Singapore is a strategic market and launchpad for master franchisors and aspiring entrepreneurs.
The city’s pro-business environment and stability offer a favourable climate for regional growth. FLAsia 2024 aims to be the essential platform for knowledge exchange and business networking for franchisors and franchisees to explore exciting partnerships,” said Mr Dickson Low , President of the Franchising and Licensing Association ( Singapore ). FLAsia 2024 Highlights FLAsia 2024 expects to feature over 300 franchise brands and licensable characters by 150 exhibitors, including international franchises from Hong Kong , Japan , Malaysia , Philippines , Singapore , South Korea , Taiwan , Thailand , United States of America and Vietnam , enabling FLAsia 2024 as the most international franchising show in the region [5] .
For F & B brands, attendees can also get more familiar with the brand experience and actual product, enabling them to make better informed decisions when considering franchising intent. For the latest information on FLAsia 2024, connect on Linkedin and Facebook . To register, visit the FLAsia website .
For media enquiries and interview requests, contact the Constellar Communications team at [email protected] . About Franchising and Licensing Association ( Singapore ) FLA ( Singapore ), one of the founding members of the World Franchise Council, was established in 1993 with the mission to nurture and develop Singapore’s franchising industry.
An essential component of Singapore’s knowledge-based economy, FLA ( Singapore ) promotes and facilitates the use of franchising, licensing and branding as a growth strategy for Singapore enterprises, thus contributing to turning Singapore as a regional franchise and license hub. Through its partnership with Singapore government agencies and international franchise and license bodies, FLA ( Singapore ) also assists its members in their international development programmes. With an active growing membership of close to 150 companies, representing more than 250 strong brands, FLA ( Singapore ) is led and managed by a dedicated team of advisors, committee members and a full-time secretariat with the goal of supporting Singapore companies to expand internationally.
https://www.flasingapore.org/ About Constellar Constellar is Asia’s preferred partner for convening businesses, curating ideas and creating opportunities for sustainable business growth and global impact.
Based in Singapore with a regional footprint in China and Malaysia , we curate and develop influential trade and consumer events for key industries, connecting global marketplaces in sectors such as fintech, industrial transformation and ESG. We also manage the Singapore EXPO, Singapore’s largest purpose-built venue for Meetings, Incentives, Conventions and Exhibitions (MICE). Our vision is to be a global leader made in Asia , activating impactful networks to enable cross-industry collaboration and innovation through our holistic portfolio of intellectual properties (IP) in the MICE industry.
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prnewswire.com/apac/news-releases/empowering-entrepreneurs-flasia-2024-to-ignite-franchising–licensing-opportunities-across-asia-302216364.html SOURCE Constellar.
