1.What is the British Chamber of Commerce in Vietnam responsible for?
The British Business Group Vietnam (BBGV) has been supporting and developing Vietnam-UK business links for over 20 years, while raising the profile of Vietnam in the British business community and vice versa.
As the accredited British Chamber of Commerce in Vietnam and working alongside the Department for International Trade (DIT), BBGV promotes Vietnam and delivers trade services for UK companies. The BBGV’s support to UK companies also includes a wide range of services such as business matching, trade mission, and market research.
2. Why should an investor consider Vietnam for developing a business?
Vietnam now has one of the fastest growing middle income sectors in South-East Asia. With its large number of educated young people under 30 years of age, it has become an attractive business destination. Greater urbanisation and an increase in disposal income are changing the mind-set of many Vietnamese consumers. This in turn has opened up the market to more service and product providers. At the same time, political stability and a strong economic outlook remain key strengths of the country
3. What do you see as the potential for a quality English language training business for children in Vietnam at the moment?
With nearly 24% of the population aged between 0 and 14 and more than 30% of the population living in an urban area, Vietnam is a growing market for English language training. The Vietnam market sees English as an increasingly required skill, both for schooling and future employment. There are many types of English language training centres in Vietnam which provide a wide range of levels and programs to suit the needs of students of all ages. There is a considerable interest by parents for specialised English teaching programs for young children, and this is in great demand at the moment.
4.How is the franchise market in Vietnam at the moment?
Vietnam is one of the top 12 most valuable markets for international expansion, as identified by members of the International Franchise Association. Vietnam provides a good potential for western lifestyle products and services, in which franchising is a familiar model of delivery. Vietnam’s culture of entrepreneurship is also ideal for franchising and licensing as it comes with a relatively fast track for entering into the marketplace with controlled levels of investment, and at a reduced risk. Steady GDP growth and a continuous increase in income levels are bringing more demand into the consumer-driven sectors where many franchises have seen success in Vietnam. Notably food and drink franchises like KFC and Trung Nguyen Coffee have seen particular success here.
5. What tips would you give to any potential Master Franchisees looking to secure the rights to Pingu’s English across Vietnam?
The importance of maximising the brand value of Pingu’s English may not yet be fully recognised by local companies in Vietnam. Any franchisees looking to secure the rights to Pingu’s English will need to utilise their reputation extensively in a local context. They can also capitalise on the profile and expertise the brand already has across South-East Asia. Finding suitable and affordable locations may offer challenges, though not unsurmountable. Ensuring staffing are capable of delivering the intended learning system of Pingu’s English will also be important. These are both areas that we understand the Linguaphone Group HQ is well advised to offer prospective partners advice on.
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