The brands, presented by the US Commercial Office in Viet Nam, Edwards Global Services Inc (EDS) and the August Bao Law Firm, included three food franchise opportunities. This means Vietnamese may soon be eating at The Melting Pot, Round Table Pizza â€“ the fifth biggest pizza brand in the US â€“ and the fast-food chain Carl Jrâ€™s. Other opportunities included a franchise for art and creative education for children under the Abrakadoodle brand, and a business guidance franchise offered by Signs Now.
According to an EDS spokesman, the franchises were offered at costs ranging from US$300,000-500,000 for exclusive rights.
This is an exploratory step in the franchise market, which would give owners exclusive rights to use and market a brand in Viet Nam. Franchise activities have recently been on the rise in Viet Nam, as entrepreneurs increasingly seek to capitalise on prestigious brand names, products and services, thanks to the countryâ€™s stable economic growth. The increase in franchising has led the countryâ€™s lawmakers to examine relevant laws.
According to foreign investors, Vietnamese law governing franchises has been markedly upgraded and amended to protect trademarks, as well as offer legal protection to both franchisers and franchisees.
Donald Nay, a commercial counsellor with the US embassy, said that there is now an increasing number of opportunities for US franchise companies to enter the Vietnamese market in the areas of food, soft drinks, retail, education and training and business administration. â€” VNS