Connect with us

Entrepreneurship

Launch of the first ever Franchise Quality Mark (FQM) by the Singapore Franchise Training School (SFTS)

Published

on

LAUNCH OF THE FRANCHISE QUALITY MARK (FQM) BY SINGAPORE FRANCHISE TRAINING SCHOOL (SFTS) AND SUPPORTED BY ASTREEM CONSULTING

Singapore Franchise Training School (SFTS) has launched the Franchise Quality Mark (FQM), a seal of quality awarded to franchisors after being assessed and evaluated based on a set of Franchise Management Excellence Criteria. It is the first ever Franchise Quality Mark that is offered using the Business Excellence framework. It distinguishes franchisors who have taken their franchise organisation to a new standard of excellence.

According to a survey conducted by International Finance Corporation(IFC) investors are willing to pay a premium for better governed companies. When we see it from the franchising industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. There is only way to be attain franchise excellence and that is by attaining the Franchise Quality Mark seal.

Supporting the study by IFC, in an independent franchisee survey conducted by us, we found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise.

The survey also revealed that their Franchise being accredited by a third party Franchise Quality Mark made it much easier for Franchise Managers, Franchise Representatives and Franchise Brokers to market the brands.

According to a survey conducted by International Finance Corporation(IFC) investors are willing to pay a premium for better governed companies. When we see it from the franchising industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. There is only way to be attain franchise excellence and that is by attaining the Franchise Quality Mark seal.

Supporting the study by IFC, in an independent franchisee survey conducted by us, we found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise.

The survey also revealed that their Franchise being accredited by a third party Franchise Quality Mark made it much easier for Franchise Managers, Franchise Representatives and Franchise Brokers to market the brands.

According to a survey conducted by the International Finance Corporation (IFC), investors are willing to pay a premium for better governed companies. From the franchise industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. In an independent franchisee survey conducted by STFS in support of the IFC study, it was found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise. The way to becoming franchise excellent is to attain the FQM seal.

The process of applying the FQM enables franchisors to first identify the gaps in franchise operation’s efficiency, profitability and sustainability, then provide a roadmap to improving its quality. It is awarded based on the fulfillment of a set of predetermined criteria. The assessment and evaluation are based on six key areas: Leadership, Planning, Information Systems, People, Process and Franchise Unit Excellence. The mandatory learning programme consists of the Franchise Unit Excellence course plus a minimum of one elective course offered by SFTS.

 

For business owners who have just started on the franchise journey or are considering franchise, the Franchise Ready Mark (FRM) is an assessment that helps ascertain where their businesses stand in terms of franchise capability. Understanding what it takes to deliver franchise unit excellence and implementing the systems into the franchise system as early on in the process as possible will make a big difference on the overall success sustainability of the franchise.

Correcting a course is often more difficult than starting it right. The structure of FRM is designed to provide franchisors with a focus on quality as well as an independent assessment on potential gaps that may exist in the franchise structure that may affect the franchise’s efficiency, profitability and sustainability.

The pioneer batch of recipients of FQM and FRM will receive their awards on the 30 September 2015 (6.30pm onwards) at the Marina Bay Sands Expo and Convention Centre Begonia Bayview Foyer. SFTS, together with Astreem Consulting, the premiere franchise consulting firm, will present the awards to the recipients.

The list of recipients include:

Franchise Quality Mark recipients:

Company Name Brand Name
Manhattan Fish Market Franchise Pte Ltd The Manhattan FISH MARKET
Big Fat Co. Pte Ltd Fatboy’s The Burger Bar
Global Franchise Master Pte Ltd Acumen
Brainfit Studio Brainfit
Joe & Dough Pte Ltd Joe & Dough
Food Tech Venture Pte Ltd Snackz It!
Seriously Addictive Learning Centre Pte Ltd Seriously Addictive Mathematics

 

Franchise Ready Mark Recipients

Company Name Brand Name
Littlez Pte Ltd The City
Neuromath Learning Pte Ltd Neuromath
Artemis Bio Pte Ltd Fresh+
Blossom Edugroup Pte Ltd Blossom Edugroup
The Food Explorer Group Grub
320 Below Franchise Pte Ltd 320 Below
Gastro Network Pte Ltd Milk & Honey – Artisan Yogurt & Dessert Bar
Hallmark Physiotherapy Pte Ltd Hallmark Physiotherapy

 

The FQM provide these long-term benefits to a franchise organization:

  1. International recognition that the brand is committed to franchise excellence
  2. Overall strengthening of the brand
  3. Increased franchisee confidence in the brand
  4. Clear training and franchise system improvement pathway
  5. Exposure in regional websites and franchise-specific publications
  6. Membership to Franchise-ABLE Network Series

This programme is ideal for key franchise decision-makers such as the founder, members of the management team, and senior managers. A minimum of two of these change leaders are required to participate in this programme.

The journey to becoming one of Asia’s promising franchise organisations begins with the franchisor’s desire to build a sustainable franchise organization; becoming FQM-certified will help them achieve this. Log on to www.sfts.com.sg or email [email protected] to find out more.

 


 

Singapore Franchise Training School (SFTS)

 

The Singapore Franchise Training School (SFTS) is the pioneer franchise institution in Singapore established to provide in-depth franchise related training services to various levels of the organisation. Our mission is to enable, enrich and empower entrepreneurs, business owners, franchisors and franchisees to develop strong and successful foundations for building their franchise systems. SFTS offers customised training programs for franchisors ranging from Leadership Mentoring, Franchise Development Training as well as Franchise Operations Manual Development. More importantly, SFTS also offers training courses to assist the franchisors in development and implementation of customised training programs including Franchise Operations Training, Front of House (FOH) Training, Back of House (BOH) Training as well as Brand Communications Training.

 

Whilst covering various topics within the franchise sector, the Singapore Franchise Training School (SFTS) will also focus on developing in-depth insights into diverse franchising sector verticals ranging from F&B to retail, education, services and more. The courses at SFTS also provide a great opportunity and platform for franchisors and franchisees to gain industry recognition, network with potential partners and improve professional standing in the business community.

 

The hallmark of the Singapore Franchise Training School (SFTS) is our franchise training faculty of practicing consultants, experienced franchisors and successful franchisees. You will be trained by industry practitioners who bring with them a wealth of knowledge in research, training and industry experience. Where relevant, our training faculty is also ACTA Certified.

 


 

Astreem Consulting

 

More than just a general business consultancy, Astreem is a franchise specialist which offers experienced industry insights and provides highly customised and innovative franchise concepts for your business.

 

Having established itself as one of the top franchise consultants in Singapore, Astreem has expanded to regional offices within Asia Pacific, thus gaining critical overseas business know-how. First hand local knowledge in various countries helps to facilitate market researches and business opportunities more efficiently and effectively. Outside Singapore, Astreem has business networks throughout Asia Pacific, Europe as well as the GCC.

 

Through many years of working closely with government agencies and associations across the region, clients can be assured of professional credibility. Even more significant is the fact that clients remain active with Astreem through time as they grow in the region. Over time, Astreem has walked the path of growth with over 200 clients internationally.

 

 

 

Callum Connects

Agnes Yee, Legal & Compliance Recruiter of Space Executive

Published

on

Agnes Yee started Space Executive in Singapore, which is a hub for businesses in some of the world’s fastest growing economies.

What’s your story?
After graduation, I joined a design media company as a Business Development Executive, during the era when ‘reading a magazine online’ was unheard of. I believe that laid the foundation for being unfazed by rejections.

I fell into recruitment pre-GFC and rode the highs and lows in the early years. A decade later, I decided to set up my own recruitment company, partly because I could. I’m acutely aware of the face that being an Asian female in Singapore is sometimes a privilege, and that many women in the world are living a very different existence.
Thereafter, we joined Space Executive as part of a merger. I am currently the Partner of Space Executive, a recruitment company focused specialist disciplines, including Legal, Finance, Digital, Sales and Marketing and Change. We also run Space Ventures, a venture capital business, which invests in seed and pre-series A businesses.

What excites you most about your industry?
On a daily basis, we’re influencing how one spends a third of their day. It is interesting how the Internet has transformed the industry, and I’m excited to see how we can harness technology to bring us to the next phase of this business.

The VC is an extension of applying our skills and experience in reading people. We very much invest in the people as much as the idea. Being a native Singaporean, it’s been exhilarating watching Southeast Asia becoming a hotbed of ideas; and young entrepreneurs simply daring to dream.

What’s your connection to Asia?
I’m a born and bred Singaporean. I love that I speak both English and Mandarin, grew up playing with Indian friends and eating Malay food.

Favourite city in Asia for business and why?
Singapore for the low barriers of entry to set up a business, but has to be China (and Hong Kong) for their hunger and constant innovation.

What’s the best piece of advice you ever received?
青春不要留白 which translates to ‘Don’t waste your youth.’

Who inspires you?
Anyone who has gone against the grain.

What have you just learnt recently that blew you away?
It wasn’t recent but reading the article on https://waitbutwhy.com/2015/12/the-tail-end.html never fails to blow my mind how little time we have left. Charting our lives in weeks, and realising I only have enough time left to enjoy 60 Christmas turkeys, read 300 books (all if I’m lucky); and mostly, I’m left with the last 5% of the time that I spend in-person with my parents.

If you had your time again, what would you do differently?
I’m cognisant that every decision I made in life has brought me to where I am today, and I wouldn’t change one thing. But I’d really like to have had more time to travel.

How do you unwind?
Exercise and wine.

Favourite Asian destination for relaxation? Why?
Trekking any mountain in Asia. It brings us back to the most basic. To overcome elements of nature and our own mind.

Everyone in business should read this book:
Start with Why, Simon Sinek

Shameless plug for your business:
Space Executive started in Singapore, a hub for businesses in some of the world’s fastest growing economies. We assist organisations in accessing a targeted and specialised, and often times transient talent pool.

Out of Singapore, we have recruited across 14 countries; and have embarked on our global expansion plans with offices in Hong Kong and London this year, and US, Japan and Europe in the following years.

Space Ventures provides funding, management and financial guidance to young businesses with original ideas. We have invested in peer to peer lending platforms, credit scoring, social media education, and other start-ups spanning diverse industries. We are always interested in hearing more about new ideas.

How can people connect with you?
https://www.linkedin.com/in/agnesyee/

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

Continue Reading

Callum Connects

Chrystie Dao-Szabo, Founder of iPayMy

Published

on

Chrystie Dao-Szabo founded iPaymy for Business – a secure and easy to use
platform enabling SMEs to pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today.

What’s your story?
I’m Chrystie Dao-Szabo, and I’ve worked as an international banker for over 22 years. During that time, I travelled through Asia, Australia and Europe, and everywhere I saw how my clients struggled with managing their finances and keeping cash around.

I wanted to use my experience to help them, but I also knew the solution they needed didn’t exist yet. This pushed me to give up on my secure career, and instead look into the innovative world of FinTech for an answer.

This is how I founded iPaymy – at its launch, a platform to help consumers pay their monthly expenses using their credit cards. We’ve grown a lot since, and today, iPaymy for Business is a platform that allows business owners to use their credit cards to pay for rent, salaries, invoices and taxes, freeing up their cash for business-critical operations.

What excites you most about your industry?
What excites me most about FinTech is it’s culture of constant disruption, thanks to cool and innovative products and services coming out every day.

What’s your connection to Asia?
I was born in Vietnam, grew up in Australia and worked in Asia, Europe and Australia. Being raised by traditional Vietnamese parents meant that deep down I was still an Asian at heart, so I have a strong connection with the region.

Favourite city in Asia for business and why?
Singapore of course. It’s easy to do business, English is the main language, and the infrastructures like public transportation are great. Also, the government supports local innovation in multiple ways, like giving grants for SMEs and FinTechs.

What’s the best piece of advice you ever received?
Keep giving, and one day you will receive.

Who inspires you?
My parents. My father had a successful business in Vietnam just before the fall of Saigon in 1975. After the war, my father was sent to a re-education camp for three years, which meant my mum had to bring up two young kids – a 3-year-old, me and my 4-year old brother on her own.

In 1980, we all fled Vietnam on a boat and arrived in Sydney, Australia via refugee camps in Indonesia and Singapore. There, my parents had to start over with nothing to their names and only AUD 50 given to them by the Australian government.
They went on to build several businesses in Australia!

What have you just learnt recently that blew you away?
The number of young and smart people who have carved out successful careers by founding their own startups (or joining really cool ones). When I was starting out my career, doing any of these was not a viable option; it was either working for an accounting firm, an insurance company or a bank.

If you had your time again, what would you do differently?
If I were starting out my career now, I would choose the path of joining a startup as you get to learn so much about running a business and how to assemble a winning team.

How do you unwind?
I like travelling to a beach or a resort destination and just relaxing by the pool or beach. I also like to unwind after work with a glass of champagne or wine, and a bowl of truffle fries.

Favourite Asian destination for relaxation? Why?
Thailand. I love the people and the spicy Thai food.

Everyone in business should read this book:
The E-Myth. It’s a book series that dismantles common myths about entrepreneurship in different industries.

Shameless plug for your business:
With iPaymy for Business, SMEs can pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today. SMEs love iPaymy because it works like a credit card, but pays like cash.

iPaymy’s secure and easy to use platform reliably delivers payments to vendors while freeing up cash and providing access to interest free credit. Forget the delays and aggravations that come with traditional SME financing options. Schedule recurring payments, manage invoices, set payment reminders, and monitor payment status all from one dashboard.

It’s never been easier for SMEs to meet monthly payment obligations while keeping cash available to fuel growth, bridge receivable gaps, and make immediate investment in the supplies, services, and expertise needed to drive a growing business forward.

How can people connect with you?
You can find me on LinkedIn or contact me by email.
My LinkedIn: https://www.linkedin.com/in/chrystiedaoszabo/
My email: [email protected]

Twitter handle?
https://twitter.com/ceedeees

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

Continue Reading

Trending