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Limelight shines on Vietnam Franchisor
Written on the 2 November 2009 by Fiona Taylor
Fifteen years ago he didn’t know what an ATM was. Today he is an international franchising success.
Dr Ly Qui Trung is Franchisor of noodle bar Pho 24, with 60 outlets in Vietnam and 11 international units across Indonesia, Philippines, Singapore, Korea, Cambodia, Hong Kong and Sydney, and an outlet opening in London next month.
He is also Gloria Jean’s Coffees Master Franchisee for Vietnam and owner of several other brands, both franchised and non-franchised.
At the end of last month Dr Trung was named Griffith Business School Alumnus of the Year.
Dr Trung says his interest and passion for franchising was born 15 years ago, when he first stepped on Australian soil to complete a Bachelor of Tourism and Hospitality Management at Griffith.
“I saw franchises like KFC and McDonald’s and thought what a fantastic business model,” Dr Trung said.
“Back in Vietnam there were no franchises. Restaurants would be there for 50 years and then just disappear overnight when the owner died or moved on.”
Dr Trung could immediately see the scope for business and brand growth through franchising.
“I like franchising because you can keep the brand alive longer, share success with others and create bigger success,” Dr Trung said.
Named Vietnam Franchisor of the Year and winner of several other awards, including Saigon Entrepreneur of the Year five consecutive years from 2003 – 2009, Dr Trung offers this advice:
“Select franchisees carefully. It’s like a marriage and if you select the wrong partner you suffer,” he said.
This is true whether you’re the franchisor or the franchisee.
Receiving the Alumus of the Year Award Dr Trung realised just how much he has learnt in the past 15 years.
“I came to Australia with open eyes and an open mind,” Dr Trung said.
“I was always learning, and used to write down things I saw and thought would be a good idea. I still have that notebook and when I have a look now and again it’s usually something I’m doing.
“The keys to my success are hard work, passion and knowledge. The knowledge from my studies at Griffith was very fundamental as it helped me take a different approach to problems.
“I’m very proud to be named Griffith Business School Alumnus of the Year. It makes me realise how far I have come in past 15 years.”
Author: Fiona Taylor