Franchise Owner Ideas Drive Business Innovation... "Reducing Development Costs and Increasing Sales"

Ministry of SMEs and Startups Opens Applications for 'Win-Win Cooperation Franchisee Specialized Support Project'
Franchise Headquarters and Owners 'Win-Win'... Support Up to 40 Million KRW

Asia Economy DB=Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] A new project supporting management innovation for franchise headquarters and franchisees with excellent win-win cooperation will be launched this year.

On the 4th, the Ministry of SMEs and Startups announced that applications from franchise headquarters and franchisees wishing to participate in the "Win-Win Cooperation Franchisee Specialized Support Project" will be accepted from the 10th to the 31st of this month.

The Win-Win Cooperation Franchisee Specialized Support Project targets franchise headquarters with excellent win-win cooperation and their affiliated franchisees. It supports and promotes the development of spaces, products, designs, and new menus that combine the know-how and unique ideas of franchisees.

Franchisees who develop innovative products or services can receive support such as development personnel from the franchise headquarters along with increased sales. Franchise headquarters can reduce development costs and gain new growth engines through the ideas of franchisees.

This year, the project will be conducted as a pilot with a budget of 300 million KRW, supporting 13 selected franchises. Selected franchisees can receive up to 40 million KRW, with 50% each supported by the government and the franchise headquarters.

Franchise headquarters and franchisees who register and maintain disclosure documents can form teams to apply. However, cooperatives, industries excluded from small business policy fund support, businesses that are temporarily closed, closed, bankrupt, have tax arrears, or engage in unfair practices are not eligible to apply.

Additionally, franchise headquarters must mandatorily present contents related to win-win development with franchisees in the disclosure documents.

The selection evaluation will be conducted through written and face-to-face assessments on the win-win cooperation activities of franchise headquarters and franchisees, the creativity and dissemination potential of franchisees' ideas, and their execution capabilities.

Extra points will be given to those registered with Zero Pay, located in employment crisis areas and special industrial crisis response areas, or recognized as excellent win-win cooperation companies by the Fair Trade Commission.

Seok-hee Bae, Director of Small Business Management Support at the Ministry of SMEs and Startups, emphasized, "Through this support project that realizes franchisees' unique ideas jointly with franchise headquarters, we can achieve both win-win cooperation and management innovation."

Detailed information is available on the Small Enterprise and Market Service website, and applications can be submitted from the 10th to the 31st of this month through the 'Small Business Plaza Franchise' site.

This content was produced with the assistance of AI translation services.