Tuesday May 5, 2009

Start a franchise business

KUALA LUMPUR: Unemployed graduates and retrenched workers can learn how to start a franchise business to help themselves in the current economic downturn.

Take the first step at a walk-in seminar organised by the MCA Youth economic task force and franchising consultancy Asiawide Franchise on May 19 at the third floor auditorium of Wisma MCA from 9am to 3pm.

The seminar will focus on franchises that require between RM10,000 and RM300,000 in start-up capital, and several financial institutions will be on hand to advise on loan facilities.

Task force chief coordinator Dr Jeffrey Goh said yesterday that it was more viable to start a franchise business based on proven management and delivery systems than to start a conventional business with its greater risks.

“Studies have shown that only 20% to 30% of conventional businesses would succeed, while 70% to 80% of franchise businesses succeeded,” he told a press conference on the seminar, which will be launched by MCA president Datuk Seri Ong Tee Keat.

Asiawide Franchise chairman and chief executive officer Albert Kong said franchise businesses were perfect for small-medium entrepreneurs as the franchisors also provided full training on running the businesses.

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