Global Franchise Issue 10.1

Hawkerpreneurs: Asia’s emerging entrepreneurial force The hawkerpreneur movement is transforming Singapore’s F&B scene. Young entrepreneurs are reinventing hawker stalls into booming businesses, driving the future of food franchising, expanding Singapore’s culture worldwide, and offering fresh, exciting routes to success: Singapore’s rich hawker culture, widely recognised as an UNESCO Intangible Cultural Heritage, is undergoing a major transformation. What was once a vibrant street food scene rooted in tradition is now being reimagined by a new generation of young entrepreneurs: the hawkerpreneurs. These innovators are combining the time-honoured art of hawker cooking with modern business practices, often using social media, digital marketing, and fresh business models to expand locally and globally. Hawkerpreneurs are primarily young, dynamic individuals passionate about food but also deeply entrepreneurial. They are breathing new life into Singapore’s hawker stalls by elevating their offerings to meet modern consumer demands while staying true to their culinary heritage. These hawkerpreneurs are crucial players in the growing F&B franchise ecosystem in Singapore and beyond. Their businesses are not only reshaping the way Singaporeans experience local cuisine but also creating valuable opportunities for international expansion through franchising. The rise of hawkerpreneurs has been driven by several key factors, most notably the growth of social media and the increasing influence of digital platforms. These young entrepreneurs use Instagram, TikTok, and other social platforms to showcase their food, connect with a younger audience, and build brand loyalty. This digital-savvy generation has a strong understanding of the power of online marketing, which has played a pivotal role in amplifying the reach of their businesses. But hawkerpreneurs aren’t just capitalising on social media – they’re also pushing the boundaries of innovation. They are offering new twists on traditional dishes, introducing modern concepts like gourmet and IP owners to connect with partners, strike deals, and explore regional collaborations. In a digital- first era, licensing is increasingly extending into virtual goods, gaming environments, and the metaverse, with Asia-Pacific leading this transformation. Startups and SMEs, especially those with niche IPs, also find licensing to be a practical way to go global without large-scale operations.Whether it’s a fitness influencer licensing training programs to regional gyms or indie illustrators turning characters into branded merchandise, FLAsia’s LicensingVillage offers a stage for innovation. Hotspot for F&B expansion Asia is fast emerging as a leading growth market for international F&B brands, driven by rising consumer demand, urbanization, and franchise- friendly business environments. Krispy Kreme has expanded through master franchise partnerships across Asia, including a standout collaboration with Lotte in South Korea. As Josh Charlesworth, president and CEO of Krispy Kreme, notes: “The franchise model is the most capital-efficient approach for the company to expand abroad.” Another example is Chick-fil-A, the largest quick-service chicken chain in the U.S., set to open its first outlet in Singapore in late 2025 marking its Asian debut. Known for its freshly prepared food and signature “Asia is fast emerging as a leading growth market for international food and beverage brands, driven by rising consumer demand, urbanization, and franchise- friendly business environments” 34 GLOBAL FRANCHISE Issue 10.1