LAUNCH OF THE FRANCHISE QUALITY MARK (FQM) BY SINGAPORE FRANCHISE TRAINING SCHOOL (SFTS) AND SUPPORTED BY ASTREEM CONSULTING
Singapore Franchise Training School (SFTS) has launched the Franchise Quality Mark (FQM), a seal of quality awarded to franchisors after being assessed and evaluated based on a set of Franchise Management Excellence Criteria. It is the first ever Franchise Quality Mark that is offered using the Business Excellence framework. It distinguishes franchisors who have taken their franchise organisation to a new standard of excellence.
According to a survey conducted by International Finance Corporation(IFC) investors are willing to pay a premium for better governed companies. When we see it from the franchising industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. There is only way to be attain franchise excellence and that is by attaining the Franchise Quality Mark seal.
Supporting the study by IFC, in an independent franchisee survey conducted by us, we found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise.
The survey also revealed that their Franchise being accredited by a third party Franchise Quality Mark made it much easier for Franchise Managers, Franchise Representatives and Franchise Brokers to market the brands.
According to a survey conducted by International Finance Corporation(IFC) investors are willing to pay a premium for better governed companies. When we see it from the franchising industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. There is only way to be attain franchise excellence and that is by attaining the Franchise Quality Mark seal.
Supporting the study by IFC, in an independent franchisee survey conducted by us, we found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise.
The survey also revealed that their Franchise being accredited by a third party Franchise Quality Mark made it much easier for Franchise Managers, Franchise Representatives and Franchise Brokers to market the brands.
According to a survey conducted by the International Finance Corporation (IFC), investors are willing to pay a premium for better governed companies. From the franchise industry perspective, franchisees find it safer to invest in brands committed to franchise excellence. In an independent franchisee survey conducted by STFS in support of the IFC study, it was found that 71% of the respondents said that it would strongly help with their decision to invest if a reputable third party endorses that the franchisor has put sufficient effort into building a credible franchise. The way to becoming franchise excellent is to attain the FQM seal.
The process of applying the FQM enables franchisors to first identify the gaps in franchise operation’s efficiency, profitability and sustainability, then provide a roadmap to improving its quality. It is awarded based on the fulfillment of a set of predetermined criteria. The assessment and evaluation are based on six key areas: Leadership, Planning, Information Systems, People, Process and Franchise Unit Excellence. The mandatory learning programme consists of the Franchise Unit Excellence course plus a minimum of one elective course offered by SFTS.
For business owners who have just started on the franchise journey or are considering franchise, the Franchise Ready Mark (FRM) is an assessment that helps ascertain where their businesses stand in terms of franchise capability. Understanding what it takes to deliver franchise unit excellence and implementing the systems into the franchise system as early on in the process as possible will make a big difference on the overall success sustainability of the franchise.
Correcting a course is often more difficult than starting it right. The structure of FRM is designed to provide franchisors with a focus on quality as well as an independent assessment on potential gaps that may exist in the franchise structure that may affect the franchise’s efficiency, profitability and sustainability.
The pioneer batch of recipients of FQM and FRM will receive their awards on the 30 September 2015 (6.30pm onwards) at the Marina Bay Sands Expo and Convention Centre Begonia Bayview Foyer. SFTS, together with Astreem Consulting, the premiere franchise consulting firm, will present the awards to the recipients.
The list of recipients include:
Franchise Quality Mark recipients:
| Company Name | Brand Name |
| Manhattan Fish Market Franchise Pte Ltd | The Manhattan FISH MARKET |
| Big Fat Co. Pte Ltd | Fatboy’s The Burger Bar |
| Global Franchise Master Pte Ltd | Acumen |
| Brainfit Studio | Brainfit |
| Joe & Dough Pte Ltd | Joe & Dough |
| Food Tech Venture Pte Ltd | Snackz It! |
| Seriously Addictive Learning Centre Pte Ltd | Seriously Addictive Mathematics |
Franchise Ready Mark Recipients
| Company Name | Brand Name |
| Littlez Pte Ltd | The City |
| Neuromath Learning Pte Ltd | Neuromath |
| Artemis Bio Pte Ltd | Fresh+ |
| Blossom Edugroup Pte Ltd | Blossom Edugroup |
| The Food Explorer Group | Grub |
| 320 Below Franchise Pte Ltd | 320 Below |
| Gastro Network Pte Ltd | Milk & Honey – Artisan Yogurt & Dessert Bar |
| Hallmark Physiotherapy Pte Ltd | Hallmark Physiotherapy |
The FQM provide these long-term benefits to a franchise organization:
- International recognition that the brand is committed to franchise excellence
- Overall strengthening of the brand
- Increased franchisee confidence in the brand
- Clear training and franchise system improvement pathway
- Exposure in regional websites and franchise-specific publications
- Membership to Franchise-ABLE Network Series
This programme is ideal for key franchise decision-makers such as the founder, members of the management team, and senior managers. A minimum of two of these change leaders are required to participate in this programme.
The journey to becoming one of Asia’s promising franchise organisations begins with the franchisor’s desire to build a sustainable franchise organization; becoming FQM-certified will help them achieve this. Log on to www.sfts.com.sg or email [email protected] to find out more.
Singapore Franchise Training School (SFTS)
The Singapore Franchise Training School (SFTS) is the pioneer franchise institution in Singapore established to provide in-depth franchise related training services to various levels of the organisation. Our mission is to enable, enrich and empower entrepreneurs, business owners, franchisors and franchisees to develop strong and successful foundations for building their franchise systems. SFTS offers customised training programs for franchisors ranging from Leadership Mentoring, Franchise Development Training as well as Franchise Operations Manual Development. More importantly, SFTS also offers training courses to assist the franchisors in development and implementation of customised training programs including Franchise Operations Training, Front of House (FOH) Training, Back of House (BOH) Training as well as Brand Communications Training.
Whilst covering various topics within the franchise sector, the Singapore Franchise Training School (SFTS) will also focus on developing in-depth insights into diverse franchising sector verticals ranging from F&B to retail, education, services and more. The courses at SFTS also provide a great opportunity and platform for franchisors and franchisees to gain industry recognition, network with potential partners and improve professional standing in the business community.
The hallmark of the Singapore Franchise Training School (SFTS) is our franchise training faculty of practicing consultants, experienced franchisors and successful franchisees. You will be trained by industry practitioners who bring with them a wealth of knowledge in research, training and industry experience. Where relevant, our training faculty is also ACTA Certified.
Astreem Consulting
More than just a general business consultancy, Astreem is a franchise specialist which offers experienced industry insights and provides highly customised and innovative franchise concepts for your business.
Having established itself as one of the top franchise consultants in Singapore, Astreem has expanded to regional offices within Asia Pacific, thus gaining critical overseas business know-how. First hand local knowledge in various countries helps to facilitate market researches and business opportunities more efficiently and effectively. Outside Singapore, Astreem has business networks throughout Asia Pacific, Europe as well as the GCC.
Through many years of working closely with government agencies and associations across the region, clients can be assured of professional credibility. Even more significant is the fact that clients remain active with Astreem through time as they grow in the region. Over time, Astreem has walked the path of growth with over 200 clients internationally.
