Thailand's franchise business keeps growing

BANGKOK, June 7 (TNA) - Thailand's franchise business is likely to keep growing, by 20 per cent annually on average, despite its shortage of personnel. Somjit Likhitsathaporn, President of the Thai Franchise Association, said that a survey in February 2013 found there were 75,000-85,000 franchise shops in Thailand and the number was growing by 20 per centy yearly on average, meaning that there were about 20 new franchise shops daily, thanks to continual support given by the Thai government and local financial institutes. Somjit projected that the Thai franchise business is likely to expand by about 25 per cent in the second half of this year, especially in provincial areas, and that, regarding the formation of the ASEAN Economic Community (AEC) by 2015, Thailand's potential franchise business operators should see opportunities to further expand their business to other member countries in the Association of Southeast Asian Nations (ASEAN). To solve the problem of insufficient personnel, the association's president suggested that local franchisors and franchisees become business partners to relieve their burdens of management and personnel recruitment. (TNA)