Franchising Lord of the Fries

Executive Summary

The purpose and aim for this report is to identify key issues in the target market and establish a market entry strategy plan for Lord of the Fries.

Singapore has been chosen as the target market that is most suitable for Lord of the Fries’ global expansion. The reason Singapore is chosen is based on the following factors: ease of doing business, similarity of culture and language, potential growth of market, country’s infrastructure, political stability and government’s assistance.

Lord of the Fries would market its current products; fries, sauces and burgers to the Singapore market to two target groups. Mainly consumers aged 15-23 and 24-30. Both groups belong to Generation Y and share similar consumer behaviours. They are willing to try new things and have high spending power.

Before entering the Singapore market, Lord of the Fries need to aware of the various issues that exists in Singapore. These issues would include cultural, economic and financial, as well as legal issues. Lord of the Fries should also consider the competitors in the same fast food category to determine their potential in the market.

Of the issues identified, cultural issues are of most importance as they are uncontrollable by the company. It also influences consumers’ behaviour. Therefore it is recommended that Lord of the Fries hire Singapore based market research firms to do a thorough research of the market. The company should also consider the type of market entry strategy it would use. It is recommended that Lord of the Fries consider franchising as their market entry strategy as the Franchisee would have a better insight of the Singapore market.

Table of Contents

1. Introduction 4

1.1. Purpose 4

1.2. Scope 4

1.3. Methodology 4

1.4. Assumptions 4

1.5. Limitations 4

1.6. Company Profile 4

2. Market Entry 5

2.1. Country 5

3. Product 8

4. Target Market 8

5. Issues 8

5.1. Cultural 8

5.2. Economic & Financial 11...