Especially international franchise concepts that can appeal to the increasingly sophisticated needs of China’s growing middle class, are sought after
Shanghai, China (PRWEB) February 22, 2013
Third Place Franchise Consulting, a company that specializes in establishing franchised concepts throughout Asia, has just published a new whitepaper that focuses on franchising in China. The document contains in-depth information and an overview of franchising in the country, including tips on which pitfalls to steer clear of and advice on how to successfully expand in this part of the world.
The release of the new whitepaper is exceptionally timely. According to information from the company, which specializes in franchise consulting in Asia, China currently has the most franchises in the world. The China Chain Store and Franchise Association estimates that the country has around 10,000 chain store businesses and brands, including approximately 5,000 franchise systems. China’s franchising system has grown rapidly since the late 1980s, when Yum’s KFC opened its first outlet in Beijing. Other major players in the franchising industry, including well-known restaurants like Subway and Starbucks, soon set up franchise operations.
Even though China has the largest number of franchises, it has fewer outlets than most Western countries. The franchises also make up just 3% of total retail sales, as opposed to 40% in the United States. These statistics show how much potential China has in the franchising industry.
“There are several drivers that can help explain China’s increasing openness to international franchise concepts,” an article on Third Place Franchise Consulting’s website noted, adding that franchising as a business model has become more known and accepted by local entrepreneurs and investment companies, who are actively seeking new franchise opportunities.
“Especially international franchise concepts that can appeal to the increasingly sophisticated needs of China’s growing middle class, are sought after.”
Anybody who would like to learn more about franchising in China is welcome to visit the company’s website at anytime; there, they can read through the newly-released whitepaper, as well as in-depth information about the franchising services that Third Place Franchise Consulting offers. People with questions about franchising in Asia can contact the company via email, phone or a contact form on the home page, and a knowledgeable member of the staff will get back to them promptly.
About Third Place Franchise Consulting:
Third Place is a franchise consulting company, specializing in establishing franchised concepts in Asia, with a focus on China. The company helps its Franchisor clients to establish their unique products and services in these markets through franchising and provide them with a complete range of services at any stage of the process. The company was founded in early 2010. Today its team of franchise experts is composed of both Westerners and Asians to provide both an understanding of western concepts entering Asian Markets and insights on local consumers. For more information, please visit http://www.third-place.be/franchising-in-china