The Malaysian Franchise Asssociation (MFA) has encouraged prospective entereprenuers to go into business under the franchise business model.
Its president, Abdul Malik Abdullah, said the franchise concept is suitable for those who has no business experience because the risks are low compared to the conventional business.
Abdul Malik said the ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) has teamed up with MFA to promote the franchise concept among new graduates looking for jobs.
Currently with 600 members, Abdul Malik urged individuals keen on franchise concept of doing business but had not enough capital to join “Franchise For All” programme under KPDNKK.
To date, the franchise industry has contributed 3.3 percent to gross domestic product and is expected to increase to 4.3 percent by 2016 according to the National Franchise Development Blueprint 2012-2016.