Young people should get into the franchise, says Rosol

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JOHOR BAHRU: Young people – including university students – should seize the opportunity to venture into franchise businesses which are the best platforms to grow successfully, says Datuk Rosol Wahid.

The deputy minister of domestic trade and consumer affairs said that so far only 20 percent of university students participate in the franchise.

“University student participation is still low but we will promote and publicize this business because the guidelines are already there,” Rosol said.

“The advantage of a franchise over a normal business is that a franchisee learns what to do from the first step to the last,” he said at a press conference after the Franchise Bay Tour program. 2022 at Angsana Johor Bahru Mall here on Saturday (June 11).

He said the perception that the franchise business is for the wealthy group should also be changed as the ministry offered programs such as micro-franchise and “Mampu Milik” (affordable) to help the growth of the franchise. franchise business with an allowance of RM5. million.

“Previously, a large capital of hundreds of thousands of ringgits was required, but now those who want to invest in the franchise business only need capital of less than RM100,000 under both schemes.

“I am confident that many would-be entrepreneurs, especially university graduates, will have the opportunity to go into business with less than RM100,000 capital and explore avenues as job providers for others. young people,” he said.

Such programs, he said, could also help improve living standards, especially of the B40 and M40 groups, and create jobs for local communities.

Meanwhile, he said the Franchise Bay program is a series of exhibitions involving the participation of franchise companies to promote their businesses to the public who want to become entrepreneurs or start businesses under the concept of franchising, with the first series of the Franchise Bay Tour for 2022. from Kuching, Sarawak.

“A total of 15 local franchisors were involved (in Sarawak), and as a result of the program, 59 potential franchisees received counseling services and expressed their intention to become a franchisee with the value of the potential investment expected at 24 million RM,” he said.

He said for Franchise Bay at Johor state level, the ministry aims to attract at least 30 new potential franchisees with a potential investment value of RM7.5 million. – Bernama

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