Familiar franchise brands
are slowly re-entering the Singapore market, years after pulling out.
American casual dining is
making a comeback in Singapore. TGI Friday has returned after it closed up shop
during the Asian Financial Crisis in 1997, along with several other
international franchise brands in the F&B and retail sectors.
Andrew Reddy, managing
director, Chaswood Resources, said: "There was an unknown factor during
the financial crisis. It was new to every businessman in this part of the
world. However this crisis made most governments in Asia and especially in
Singapore, prepare the people well and they have prepared themselves
well."
But the Malaysia-based
operator said Asia is a fast-growing market and it s hoping its success in
Malaysia and other regional countries will be repeated in Singapore.
Over the years, Singapore
has become a more cosmopolitan city with more Singaporeans increasingly
becoming exposed to different cultures and foods from around the world. And
thats why some franchise operators said now is the time to make a re-entry
into the Singapore market.
Burger joint Wendy s is
another American outlet that is back in town.
The franchise is owned by Kopitiam and opened at Lau Pa Sat Market in
mid-December. 90 percent of the menu is the same as can be found in the US. But
there have been a few adjustments to suit Asian tastebuds.
Jeffrey Lim, director,
Kopitiam Management, said: "There is some tweaking in terms of the shrimp
sandwich because the shrimp sandwich is something we brought in from the
Malaysian franchise and that has been tweaked according to the tastebuds of
Singaporeans." The company is
planning to open a second Wendy s at Jurong Point by March 2010.
Both outlets will be
converted to 24 hour operations while TGIF is hoping to have at least three
outlets in Singapore by 2012.
The franchise operator of
Dunkin Donuts, another brand making a re-entry into the Singapore market, has
plans to open another 20 outlets within the next 3-5 years. Another
Malaysian based franchise operator has reopened a new Dominos Pizza with more
outlets slated for launch soon. The two
operators are hoping the launch of the two integrated resorts will help boost
their business.