The FLA Awards serves as a national benchmark for aspiring franchisors and licensors looking to propel their business in the region
Since its inception in 2005, the Franchising and Licensing Awards, organized by the Franchising and Licensing Association (FLA) Singapore, has provided recognition for outstanding franchise concepts in Singapore and facilitated further developments of franchise companies in international markets. Into its 11th year, this year’s installment will see the introduction of a new category – Franchise Executive of the Year, which recognizes, promotes and celebrates the significant contributions by an individual for his professional prowess, merits, and mastery in the field.
The franchising and licensing market in Singapore has shown significant growth in recent years. In 2014, Singapore store-based sales amounted to S$30 Billion. According to FLA’s 2014 Survey, franchise outlets represent 22% of all retail stores in Singapore. It is also estimated that with an increasing number of local Singaporean companies exploring franchising and licensing options for international expansion, the sector pulls in S$6.6 Billion in sales. Furthermore, Singapore’s reputation as a highly- connected city state, with an open economy and a strong intellectual property (IP) regime, is making it an ideal location for foreign franchisors to test their business concepts and gauge acceptance levels in the region.
“While franchising is a business model traditionally used within the education and F&B industries, it is now however seeing many other industries adopt these models to scale internationally, especially in the lifestyle and fashion spaces,” said Donna Lee, Chairman of FLA Singapore. “The FLA Awards provides aspiring franchisors and licensors with a platform to benchmark best practices across industries.”
Previous winners of the FLA Awards have seen the Awards propel their business growth:
“Winning International Franchisor of the year helped ramp up the company’s credibility, in turn helping us sell the business beyond Singapore and achieve a substantial ROI for the year,” said Alex Butt, Master Franchiser of Signarama, the largest global full-service Sign Franchise based n USA.
“It was the application process that allowed the team to assess the company’s strength and weaknesses thoroughly. Preparation for the judging process also brought the team behind the transformational SoulKids programme closer,” said Sally Forrest, Managing Director of Soul Centre Private Limited, a personal development centre, that won the Licensor of the Year Award in 2014.
The Awards comprise eight different categories that recognize and honor the various stakeholders in the industry – Franchisors, Licensors and Franchisees.
Over 200 brands have benefitted from the Awards since its inception, including 7-Eleven, Spinelli Coffee Company, Waraku and Brotzeit.
Submission for the FLA Awards 2015 closes on 21 August 2015. For more details, please visit www.flaawards.com or contact the Awards Secretariat at +65 6333 0292/ 0281 or firstname.lastname@example.org.
About Franchising & Licensing Association (Singapore)
Franchising and Licensing Association (Singapore), also known as FLA (Singapore), one of the founding members of the World Franchise Council, was established in 1993 with a mission to nurture and develop Singapore’s franchising industry.
With a 130-company strong membership base and growing, representing more than 150 exciting brands, FLA (Singapore) is led and managed by a dedicated team of advisors, committee members and staff with one objective in mind-turning Singapore-based companies franchising and licensing dreams and ambitions into reality.
About Franchising & Licensing Awards
The Franchising and Licensing Awards (FLA Awards) was launched in 2005 by the Franchising and Licensing Association (Singapore) to recognize outstanding achievers in the local industry.
Currently into its 11th year, the Awards continue to provide a formidable platform for successful franchise concepts and businesses to be showcased in the international arena. It also serves as a national benchmark for franchise concepts aspiring to greater heights.