The franchise industry is a wonderful opportunity for many entrepreneurs to start their own entrepreneurial activity. The steady growth in the Vietnamese economy has made the opportunity even better.
Vietnam has been rapidly developing for a number of years now, and its growth doesn’t appear to be ending anytime soon. Between 2010 and 2019, Vietnam experienced an average annual GDP growth rate of 6.31 percent, reaching $261.92 billion by the end of the decade. In the 2020s, it’s expected to sustain an average net GDP growth rate of over 7 percent, and by 2050, Vietnam is projected to place among the top 20 economies in the world (franchising.com). These figures, combined with Vietnam’s record-low 4 percent interest rate, not only suggest that it is the right time to invest in Vietnam, but have also played a role in creating its flourishing community of entrepreneurs. As the middle-class grows, many new entrepreneurs are looking to franchising in particular as “a relatively rapid avenue of entering business with controlled levels of investment and at a reduced risk” (export.gov). Indeed, it’s projected that the number of new franchises in Vietnam will grow 15 to 20 percent annually from 2021 forward (Vietnam Investment Review). SME Presence and eCommerce Growth Fuel Business Services Market Vietnam’s economy is driven by SMEs, the primary clients of business service providers. Approximately 95 percent of active businesses in Vietnam are SMEs, which constitutes over 400,000 businesses. In addition, Vietnam has over 5 million unregistered businesses that account for over 50% of the working population (ASEAN CSR Network). This suggests a substantial market for business services, especially as growth in eCommerce creates additional service needs, such as digital marketing and micrologistics. In 2020, eCommerce revenue in Vietnam grew 36% and is expected to continue growing at a compound annual growth rate of 9% until 2024 (ecommercedb.com). Currently, over 500,000 eCommerce orders are made each day in Vietnam (Vietnam News). MBE: A Franchise Opportunity The Mail Boxes Etc. franchise fits very well into Vietnam’s growth horizon from a strategic standpoint. As reliable providers of business services, MBE Centers could serve the digital marketing and micrologistics needs of the many businesses and individuals looking to create or expand their eCommerce presence. In addition to these services, MBE provides pack & ship solutions for both local and international shipments, a market that’s expected to surpass $3.5 billion by 2024 with a CAGR of over 15 percent (Mordor Intelligence). Framework agreements with global couriers such as UPS and FedEx would facilitate MBE’s competitive advantage in this market.
Becoming a Master Licensee for Vietnam with MBE
By obtaining the master license, you become the authorized owner of the MBE brand in Vietnam, gaining access to MBE licenses, know-how, and its worldwide network of passionate entrepreneurs. Moreover at MBE, there is already a prominence of MBE Master Franchisees in more than 45 countries. Proving MBE is a safe and successful business concept for Franchisees al over the world thus opening a window of possibility for investors in many countries to start their master franchise with MBE.
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