Thailand’s franchise industry is expected to continue thriving with at least 10% growth forecast for this year, as people affected by the pandemic look for their own business, according to the Business Development Department.
More importantly, new generations prefer to run their own business rather than work as an employee.
Thosapone Dansuputra, director-general of the department, said the country’s franchise market was valued at 300 billion baht last year, a rise of 20% from 250 billion baht in 2019.
He expects the market to grow to at least 330 billion baht this year, even if the overall economy remains sluggish.
“The number of people who want to own their businesses and those of small-scale businesses keeps rising especially for the new generations and people who are faced with unemployment,” said Mr Thosapone.
The spread of the pandemic has devastated domestic…
