Kuala Lumpur / MY. (btm) Secret Recipe Cakes and Cafe Sdn Bhd was named the «International Franchisor of the Year 2007» at the Franchising + Licensing Association Singapore (FLA) Award.
«Winning the top FLA Award for the international level category attests the success of the franchising model, where over 50 percent of our revenue comes from franchising activities», chief executive officer Datuk Steven Sim says.
Established in 1997, the home-grown cafe-cum-bakery today has 144 outlets in Malaysia, 44 of which are wholly-owned and the remaining 100 operated by franchisees.
The FLA Award this year had three categories: the most promising franchisor, the most outstanding franchisor and the most outstanding international franchisor to honour those that had excelled in their own countries.
According to Academy Asia Pacific, the annual revenue from Asia´s franchise markets is growing by more than 50 billion USD each year, and is expected to hit 100 billion USD in five years.
