HUA SENG HONG Attack ASEAN
Hua Seng Hong 'reveals' business plan strategy 'Aiming' to Invest in Myanmar, Laos, ASEAN Market with Potential The franchise and restaurant chain join hands with PTT to expand food and beverage market, restaurant business customers worth 390,000 million baht.
Ms.Jirawan Piriyalerdsak, Executives Hua Seng Hong revealed to www.iclicknews.com that the company plans to expand its food business in ASEAN. The countries we are interested in are Myanmar and Lao PDR.
We are currently studying the feasibility of investing. But we are confident in the potential of the growing ASEAN market.For business expansion in Thailand. If it is a franchise. Hang Seng Hong Dim Sum We will expand in the department store, PTT, etc.
"Investment open shop. We have invested about 12 million baht, including land and rent. We target 15 branches in Bangkok and plan to expand in Korat, Ubon Ratchathani, Udon Thani and Chiang Mai. " She said
Mr. Pipavat Bhadranavik, KBank First Senior Vice President, has revealed that there is now cooperation between KBank and PTT PCL. to provide K-SME Franchise Credit loans for those seeking to buy a Hua Seng Hong Dim Sum franchise. In this program, two types of long-term loans will be available, i.e., collateralized loans for up to 70 percent of the franchise investment value, and up to six years to pay on it, plus, collateral-free loans, also for up to 70 percent of investment value, with up to five years to pay on it and a maximum TCG loan guarantee of THB3 million.
Market turnover in restaurant business overall here is expected to total THB390-397 billion in 2017, an increase of 2-4 percent over 2016. Of this, THB119-122 billion will go to restaurant chains, and THB271-275 billion to other restaurants, mostly SME establishments that include quick service restaurants (QSR) that have enjoyed steady growth and have had market turnover of THB44 billion so far, this year.
Franchise businesses have a promising growth outlook, especially restaurants with a recognized brand that respond to today’s lifestyles. Restaurant franchises are therefore very popular among investors, as evidenced by the total number of restaurant franchises bought in 2017, numbering 128, which amounts to 23.15 percent of all franchise businesses bought so far, this year. Most importantly, their growth has beaten others. Opportunities are there for investors wanting to own a low-risk business, but having good access to financial assistance.
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