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'Franchise Lanka' to boost SMEs to enter international market

by Sudarshana Perera

Franchise Lanka (FL), a joint venture between Franchise India Holdings Ltd.(FIH) and Kelon Ventures (KV) has identified several key franchise companies in education, service, hospitality, travel and food sector to expand their business contributing to overall growth in GDP and creating job opportunities for Sri Lankans.

FIH in partnership with KV would play a robust role to harness the bilateral trade ties between Sri Lanka and India as India sees Sri Lanka as a "Pearl On Hand" for business potential. Franchise Lanka would particularly help Small and Medium Entrepreneurs (SMEs) enter the international market while playing a facilitator role to attract more joint ventures, franchise partners and investments.

FL Chairman Gaurav Marya told a press conference to announce its operation in Sri Lanka that his company would devise strategies to exploit the infrastructure and other business potential in Sri Lanka for foreign investors and their presence in Colombo would help to reap the benefits of the Indo-Sri Lanka Free Trade Agreement.

"Sri Lanka is the only gateway to the Indian market with its strategic location and we would bring Indian expertise to train Sri Lankan human resources to carry out our operations in the country.

Sri Lanka would fall in to a robust network of marketing and competitive advantage is favourable for the country", he said. FL would expand their offshores with foreign collaboration that would contribute to overall growth in GDP while creating job opportunities for Sri Lankans.

We would break boundaries to explore innovative ideas to bring Sri Lanka on par with international standards",said FL Managing Director S.Selvarajah. "Franchising as a business format is one of the most powerful economic engines in the world today. There's a reason why the US creates 1.5 lakhs of new jobs a year, employs 80 lakhs people, and has five lakh franchises. It has a safe and trusted environment for an entrepreneur to invest their money in.

Franchising is a continuing relationship in which the franchiser provides licensed privilege to do business, plus assistance in organising, merchandising, training, and management in return for a consideration from the franchisee", said Regional Director of the company, Bhagath Singh.

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