Singapore based marketing agency, Jack And Chaz Pte Ltd, has signed its first master franchisee in Vietnam in December 2019. Since its founding in 2014, Jack And Chaz has helped several small and medium enterprises (SMEs) achieve brand awareness and optimal sales growth via its marketing strategies.
According to Jacky Tan, CEO, Jack and Chaz, the current venture outside of Singapore reflects his company’s aims to assist SMEs globally. His motivation to tap into the business opportunities within the region came from an observation by Singapore’s Trade and Industry Minister, Mr Chan Chun Sing that SMEs are not Small Medium Enterprises but rather, they are Singapore MNCs Emerging.
Like many other self-funded small-sized companies, challenges in financing limit overseas expansion. In this current expansion into Vietnam’s vibrant economy and entrepreneurship scene, Jack And Chaz managed to seek help from Emerhub Vietnam which helps foreign businesses set up companies legally in Vietnam. The franchise will operate as Jack & Chaz Marketing MTV Limited Company
According to Kadri Lahi, Country Manager, Emerhub Vietnam, her company was happy to have helped Jack And Chaz Pte Ltd enter Vietnam, seeing it as their mission to lower the entry barriers for foreign investors and help businesses enter South-East Asia.
“Vietnam welcomes foreign investment, and there are many options for foreign investors to do business in Vietnam and franchising is a good option to enter the market for anyone in [a] similar position,” she continued.
According to Ms Ngan Nguyen, the partner for the franchise, “Vietnam has a young and dynamic market which is representing a substantial commercial opportunity. Digital technologies change and grow drastically, which are adopted quickly by a massive amount of online end users.”
“However,” she added, “there are still many startup entrepreneurs struggling to figure out the most efficient way to transit their business from offline to online. Besides, we have also seen many local SMEs looking for ways to increase their revenue, their customer loyalty or to move up to the next level of business stardom.”
According to Jacky Tan, Singapore SMEs should look beyond Singapore market, as there are several businesses which have the potential to become famous brands regionally or globally with a franchising strategy, once they are aware of their potential.