Launch of FLA Awards 2019 to honour industry's best
 
Jun 04, 2019
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FLA (Singapore) announces Franchising & Licensing Competency Framework for Singapore’s Home-Grown Brands

June 4, 2019, Singapore --( ASIA TODAY )-- The Franchising & Licensing Awards (FLA Awards) celebrates the milestone achievements of establishments in the local franchise and license industry, recognising visionaries who have introduced innovative ideas and concepts through the years and distinguishing promising businesses and brands which have inspired others towards achieving excellence. The FLA Awards was introduced by the Franchising and Licensing Association (FLA) Singapore in 2005. Brands who have benefited from the Awards include 7-Eleven, Anytime Fitness, Pezzo, Spinelli Coffee Company and Ya Kun.

The FLA Awards 2019 was launched this morning at a Franchise Forum organised by the association at Marina Mandarin Hotel. The panel of speakers included Ron Sim, Executive Chairman and Chief Executive Officer of V3 Group Limited (OSIM, TWG Tea, GNC) who was honoured with the inaugural FLA achievement award and Andrew Khoo, Director of Laura Ashley (Asia).

The forum also marked the launch of FLA’s competency framework initiative aimed at assisting Singapore’s small- and medium-sized enterprises (SMEs) to develop and improve their franchising and licensing strategy. Supported by Enterprise Singapore’s Local Enterprise and Association Development (LEAD) programme, the initiative will focus on the development of a competency framework, building franchise capabilities and facilitating internationalisation efforts of enterprises.

Ted Tan, Deputy Chief Executive Officer, Enterprise Singapore (ESG), commented, “Franchising and licensing are effective ways for business expansion and internationalisation. The key to a successful franchise or licensing business lies in the ability to differentiate its system of operations from competitors and to guard the intellectual property. We are happy that FLA has taken the lead to develop the franchising and licensing competency framework. The capabilities built up through this framework will be critical for accelerating companies’ market entry and overseas expansion.

A diagnostic toolkit will be developed under the competency framework to assess the competency and readiness of a company’s franchise initiatives. Based on the assessment results, companies can then devise an action plan to address any existing gaps. A quality mark will then be awarded in accordance to the company's readiness beginning with 'Starter' to 'World-class'. FLA, in collaboration with a group of certified franchise consultants, will certify companies and recommend them for the appropriate quality mark.

FLA’s goal is to ultimately cultivate a pool of globally-competitive franchising and licensing players to strengthen Singapore’s position at the heart of franchising and licensing in Asia. FLA will work together with Industry associations in the F&B, retail, infocomm, education and service sectors towards achieving this vision.

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