Starting a franchise business in Singapore can be a lucrative opportunity for entrepreneurs. Here's a guide to help you navigate the process:
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Research and Select a Franchise: Research various franchise opportunities to find a business that aligns with your interests, skills, and financial capacity. Consider factors such as the brand reputation, market demand, and support provided by the franchisor.
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Understand Franchise Regulations: Familiarize yourself with the regulatory framework for franchising in Singapore. The Franchising and Licensing Association (FLA) of Singapore provides resources and guidelines for franchisors and franchisees.
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Business Plan and Financing: Develop a comprehensive business plan outlining your strategy, target market, and financial projections. Determine the initial investment required and explore financing options such as bank loans or government grants for small businesses.
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Legal and Financial Considerations: Seek legal advice to review the franchise agreement and understand the terms and obligations. Ensure that the agreement complies with Singapore's laws and regulations. Additionally, set up a business entity, such as a private limited company, and open a business bank account.
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Location and Site Selection: If your franchise business requires a physical location, carefully select a suitable site based on factors such as foot traffic, accessibility, and proximity to your target market.
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Obtain Necessary Licenses and Permits: Depending on the nature of the franchise business, you may need to obtain specific licenses and permits from relevant government authorities. Ensure compliance with regulations related to business operations, food handling, or other industry-specific requirements.
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Training and Support: Take advantage of the training and support provided by the franchisor. Understand the operational processes, marketing strategies, and ongoing assistance offered to franchisees.
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Marketing and Promotion: Develop a marketing plan to promote your franchise business. Leverage the brand's marketing materials and strategies while customizing them to suit the local market.
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Hire and Train Staff: Recruit and train employees according to the franchisor's standards and guidelines. Ensure that your team understands the brand's values and delivers a consistent customer experience.
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Launch and Operations: Execute a successful launch of your franchise business and focus on efficient operations, customer service, and continuous improvement.
Remember that success in franchising requires dedication, hard work, and adherence to the franchisor's standards. It's essential to maintain open communication with the franchisor and stay updated on industry trends and consumer preferences.
Interested in starting a business, but you couldn't draft a business proposal that was even remotely possible?
You should consider starting a business that is already established, such as a franchise.
As a direct result of the pandemic, people were given the opportunity to take a step back, reflect, and readjust to the rapidly shifting conditions.
Because of the unexpected loss of their job, they found themselves with more time on their hands, and they decided to make the most of it.
With the money that they had put aside, a lot of people have started their own businesses.
If you want to build a name for yourself and start a business from scratch, it's not a bad idea to consider doing so.
It is important to keep in mind, however, that setting up a business is an exercise in trial and error because you can never be sure whether or not customers will like the products you sell.
Continue reading to acquire knowledge regarding some of the best franchise businesses in Singapore.
Is Opening a Franchise a Good Idea in Singapore?
Franchising is a great option to get your business off the ground in Singapore.
Having a well-known brand name and the assistance of a well-established parent company can greatly increase your chances of success in franchising.
Is Franchising a Good Investment?
The question of whether franchises are a good investment may have crossed your mind if you're a budding entrepreneur or perhaps a seasoned businessman looking to expand your portfolio.
Is it possible to make a career out of this? Definitely.
Purchasing a franchise as a means of launching a new business is a logical choice.
List of Franchise Businesses in Singapore to Be Your Own Boss
1. 7-Eleven
7-Eleven - Franchise Business Singapore
7-Eleven has provided aspiring business owners with a one-of-a-kind chance to invest in a well-known brand name in order to launch their own company ever since the company's first franchised business opened for business in 1988.
With a 7-Eleven franchise, it's easy to get started.
Those who are awarded a 7-Eleven franchise are provided with a free training program that lasts for three months and is designed to ensure that they are fully capable of managing the day-to-day operations of a 7-Eleven store.
Throughout their retail experience, franchisees can also reach out to the company's Field Consultants for assistance.
Over fifty percent of 7-Eleven's locations are run independently by individual franchisees, making the company multiple award-winning winners in the franchising industry.
7-Eleven is known for its successful business models and widely popular, high-quality products.
It's no secret that 7-Eleven has embraced a culture of openness, innovation, and support for franchisees.
What Customers Say…
"7-Eleven has a clear direction that I believe in — there is a need to be different from our competitors, especially in terms of product differentiation. Singapore is the first to bring in products from Japan, which is very protective over its private brands. One of my stores has the highest sales of these products because we gave out samples — simple steps like these show that there is commitment to progress. 7-Eleven also has a way of getting people together. There is a lot of social interaction, a lot of meet ups and drinks, and they have always been very welcoming in that any time I have an issue, we can get together and talk about it." – Mr. Richard Lim
| 7-Eleven Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | From $40,000 |
| Franchising Fees | $30,000 |
| Royalty Fees | Upon Request |
Services Available:
- Convenience Store
- Bill Payments
- Payment Modes
- Top up Services
- Cash Withdrawal
- Parcel Services
- ID Check
Head Office Address: No. 21 Tampines North Drive 2 #03-01, Singapore 528765
Contact: franchise@7-eleven.com.sg
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2. Mr. Bean
Mr. Bean - Franchise Business Singapore
Since its founding in 1995, Mr. Bean has grown to become the most successful soya bean f&b retailer in Singapore.
Over fifty of Mr. Bean's stores can be found in Singapore and other Asian countries, where they offer a wide selection of soy-based beverages and snacks.
Treats like ice cream, cakes, and flavored soya drinks blended with ice can be enjoyed by people of all ages, including children and seniors.
Today, Mr. Bean is proud to operate under a robust business model that places a premium on meeting the requirements of its clientele.
At the same time, the company remains committed to investing in research in order to create new and healthy products that maintain the same level of nutritional integrity as its original offerings.
Mr. Bean has poised for rapid expansion in the region thanks to its management team, which is both visionary and dedicated.
In addition to Japan (Tokyo), Korea, and the Philippines, the company has plans to expand its presence in Asia.
Services Available:
- Food & Drinks
Contact: franchise@mrbean.com.sg
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3. Wee Nam Kee Chicken Rice
Wee Nam Kee Chicken Rice - Franchise Business Singapore
Make money selling chicken rice every day because you're in love with it so much! Now is your opportunity, so seize it.
The well-known Wee Nam Kee restaurant chain now provides a franchise opportunity that enables individuals to run a stall and a crew that sells its world-famous chicken rice.
This opens the floodgates for fans of chicken rice.
Wee Nam Kee, which first opened its doors in 1987, is particularly proud of the fact that it serves Hainanese Chicken Rice, which is widely considered to be one of Singapore's most beloved and recognizable dishes.
It is because of Wee Nam Kee's unwavering dedication to quality and culinary tradition that the Singapore government has commissioned the company to provide its world-famous chicken rice at numerous events held in other countries.
Wee Nam Kee has established franchise restaurants outside of Singapore since 2010 in the Philippines, Japan, and Indonesia.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | $500,000 |
| Franchising Fees | Upon request |
| Royalty Fees | 5% to 10% |
Services Available:
- Food & Beverage
Address: United Square, Marina Square & 112 Katong; Makansutra Gluttons Bay @ the Esplanade
Contact: +65 6255 6396
4. Trung Nguyen Coffee
Trung Nguyen Coffee - Franchise Business Singapore
It appears that coffee shops in Singapore, despite Starbucks' dominance, are a sound investment, as evidenced by the proliferation of new locations and brands.
For a product that is truly one of a kind, consider opening a Trung Nguyen Coffee franchise.
This will allow you to share the sophistication of Vietnamese drip coffee with jaded coffee lovers who are looking for a new kick in the pants.
Be aware, however, that the costs of starting a business can reach more than $200,000 U.S., so you might need to enlist the help of your entire coffee crew.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | US$120,000 to US$200,000 |
| Franchising Fees | US$10,000 to US$20,000 |
| Royalty Fees | 3% to 6% |
Services Available:
- Coffee Shop
Address: 10 Anson Road International Plaza #01-31, Opp Watson, Level 1 left of the main entrance, Singapore 079903
Contact: +65 9785 0221
5. Founder Rou Gu Cha Cafeteria
Founder Rou Gu Cha Cafeteria - Franchise Business Singapore
Founder Rou Gu Cha Cafeteria “發起人肉骨茶”, one of Singapore's most venerable eateries, has been serving up this special brand of comfort food for more than four decades, and it's known for its crispy deep-fried fritters and hearty peppery soup.
It is believed that the original source of this dish is in Fujian, China where Chinese settlers brought it with them to sustain them through a long day of dock work.
You will be contributing to the preservation of a piece of Singapore's hawker heritage if you decide to become a franchisee.
You will be saving this simple dish for further generations of people not only in Singapore but also in Hong Kong, Taiwan, and other parts of the world.
| Founder Rou Gu Cha Cafeteria Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | $200,000 |
| Franchising Fee | Upon Request |
| Royalty Fee | 6% |
Services Available:
- Food and Beverage
Contact: founderbkt@gmail.com
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6. Ya Kun Kaya Toast
Ya Kun Kaya Toast - Franchise Business Singapore
The Ya Kun Kaya Toast franchise is a franchise business brand that offers a one-of-a-kind concept for food and beverage service, and it comes with the exclusive rights to conduct business in a particular location or territory for a predetermined amount of time.
It is the goal of Ya Kun Kaya Toast to be a known brand in Singapore as well as Asia through the provision of delectable kaya toast and other traditional foods and beverages to everyone.
Since its humble beginnings as a small coffee shop in the 1940s, Ya Kun has become synonymous with serving exceptional kaya toast in addition to aromatic coffee and tea, all of which can be enjoyed in a welcoming atmosphere.
| Ya Kun Kaya Toast Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | Upon Request |
| Franchising Fees | Upon Request |
| Royalty Fees | N/A |
Services Available:
- Food & Drinks
Address: 237 Alexandra Road #03-09/10 The Alexcier Singapore 159929
Contact: +65 6222 9711
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7. Modern Montessori International
Modern Montessori International - Franchise Business Singapore
In spite of the fact that a great number of businesses have entered the early childhood education market in Singapore over the course of the last twenty or so years, Modern Montessori International (MMI), which was one of the early innovators in the field, is still going strong.
The fact that MMI continues to win awards and become a household name in the area may be an indication of the effectiveness of its patented teaching and learning.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | $600,000 |
| Franchising Fees | $100,000 |
| Royalty Fees | 15% |
Services Available:
- Early Childhood Education
Contact: Franchise@modern-montessori.com
8. E2 Young Engineers
E2 Young Engineers - Franchise Business Singapore
As a result of the fact that children are being raised in a world in which self-driving cars, digital currencies, and algorithms follow their every move, the ability to work with data and engineering will be in higher demand than it has ever been.
In a similar vein, educators in the United States are advocating for increased instruction in Science, Technology, Engineering, and Mathematics (STEM) subjects in an effort to equip the upcoming generation with the competencies necessary for success.
Take advantage of the opportunity to become a franchisee if this feels just like another big thing that Singaporean parents should be enthralled by.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | US$30,000 to US$55,000 |
| Franchising Fees | US$28,500 |
| Royalty Fees | 7.7% or Minimum of US$100 per month |
Services Available:
- STEM Education
Contact: admin@youngengineers.sg
9. Wonder Wash
Wonder Wash - Franchise Business Singapore
In Singapore, Wonder Wash Self-Serve Laundromat is the first to offer self-service laundry without any staff at all.
Every one of their stores, with the exception of the one in Kensington Square, is open 24/7.
They launched their business in April of 2010, and since then they have opened over one hundred locations, with future expansion plans calling for even more.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | $135,000 to $200,000 |
| Franchising Fees | N/A |
| Royalty Fees | N/A |
Services Available:
- Cleaning Services
Contact: info@wonderwash.com.sg
10. Cocolemon
Cocolemon - Franchise Business Singapore
In the hot temperature of Singapore, one man set out in search of the most delicious beverage that could quench his thirst.
Because he was unable to find one, he settled on the idea of producing a drink out of the purest liquid that could be found anywhere in the world.
Because of this, they established their well-known brand of coconut water drink!
In addition to the homemade coconut drink, they take great pride in the lemonades that are made to order and shaken before serving.
Their lemonade and coconut drinks are low in calories but high in nutrients.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | From $60,000 |
| Franchising Fees | $25,000 |
| Royalty Fees | No royalty fees |
Services Available:
- Beverages
Contact: franchise@cocolemon.sg
11 Koi The Co Ltd
Koi The Co Ltd - Franchise Business Singapore
The cost of a Koi franchise in Singapore can vary depending on several factors, such as the location, size, and type of franchise. However, as of 2023, the estimated cost of a Koi franchise in Singapore is around $200,000 to $400,000. This includes the franchise fee, which is around $35,000, as well as other costs such as rental, equipment, inventory, and marketing.
It's important to note that the cost of a Koi franchise may vary depending on the specific terms and conditions of the franchise agreement, as well as other factors such as the level of support provided by the franchisor.
Here is the Koi Menu & Price List in Singapore.
Before investing in a Koi franchise, it's important to do your research, compare different franchise options, and seek professional advice to ensure that you are making an informed decision.
| Franchise Costs | Pricing |
|---|---|
| Initial Capital Investment | From $200,000 |
| Franchising Fees | $35,000 |
| Royalty Fees | 6% |
Services Available:
- Beverages
- Cafe
Learn more about Good Franchises in Singapore
Here are some handy questions most folks have about franchises in Singapore…
Is franchising a business profitable in Singapore?
Moreover Singapore has an educated, tech-savvy populace, a well-developed legal framework and a progressive tax system that are conducive to the success of franchises.
This strong economic environment, combined with its low cost of operating and ease of starting a business, makes Singapore a great place to consider franchising a business.
Our Government supports franchising initiatives and offers a range of assistance to new franchises, including grants, easy access to financing and dedicated helpline services. With the right franchise model and business plan, almost any business can be successful in this locale.
Can foreigner own franchise in Singapore?
The local director will also be responsible for liaising with the relevant government departments, such as the Ministry of Trade and Industry and MOM for all necessary approvals.
Moreover, employers are required to register with the Ministry of Manpower and comply with applicable laws and regulations to ensure the safety and rights of their workers.
Franchisees must also have sufficient funds on hand to provisionally cover the cost of setting up their business.
Therefore, with the right qualifications and financial arrangements, foreigners can own and operate a franchise in Singapore successfully.
Can a franchise make you a millionaire?
Depending on the franchise, the owner may have to pay hefty franchise fees, royalties, and ongoing marketing and operational expenses.
Moreover, franchisors often require that franchisees have large amounts of working capital to get started. Franchise owners must also contend with competition from other local franchises and parent companies.
As a result, it’s rare for a franchise owner to become a multi-millionaire. It’s not impossible though; some franchisors have achieved great success in operating and growing their business.
Franchise Business Singapore
If you're looking for a way to start a business with a strong market position, a franchise may be the best option.
If you don't have to start from scratch, you can save yourself a lot of time and work.
Moreover, it might help you escape the first stage, where most new businesses fail, which is the riskiest part of the process.
As a franchisee, you would also get coaching and advice on how to run your business effectively.
While some franchise owners might charge an additional cost for marketing and advertising, you can anticipate coordinated marketing initiatives to help promote your business.
Franchising, by contrast, is a highly regulated industry, and franchisees are expected to adhere to a strict set of regulations and standards.
As a result, you won't have much room for creativity as a franchisee.
Prior clearance is required before you can update the menu or offerings.
It's unlikely that you'll be able to conduct your own Facebook campaign that can only be redeemed at your branch because of this restriction.
We really hope that you find the information in this post helpful in your search for the ideal franchise opportunity in Singapore!
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