IFRA Business Expo 2023 aims to gain a total transaction of up to US$107.9 million and attract 55,000 visitors.
Heaptalk, Jakarta — Indonesia’s franchise exhibition, the 21st IFRA Business Expo 2023, has officially opened at the Indonesia Convention Exhibition (ICE) BSD on August 25th – 27th, 2023.
Inaugurated by the Director of Trade Business Development of the Ministry of Trade, Septo Soepriyatno, he delivered that the Ministry continues to encourage the development of domestic franchise businesses. Indonesia’s government also noted that the growth of the national franchise business was 135 for domestic and 135 for international franchisors as of the end of July 2023, increasing 5% compared to the former. This output also has obtained the legality of the Franchise Registration Certificate (STPW).
“The progress trend of the current franchise business will continue to increase along with increasing demand from the public to attempt this business. According to the annual activity report we receive and process, we record around 5,599 outlets operated under a franchise development system. This result demonstrates a fantastic achievement, with a turnover of up to US$1.35 billion (around Rp20.8 trillion) in 2021,” added Septo during the opening ceremony. (08/25)
Aligned with Indonesia’s President Joko Widodo’s mandate to unlock tremendous opportunities for Indonesian entrepreneurs to enhance their business, Septo affirmed that conducting the 21st IFRA Business Expo is expected to pursue the targeted businessman ratio of up to 4% by 2024. Moreover, the franchise business model is one industry that contributes to the national economy elevation.
“We appreciate all stakeholders who have consistently made us partners, specifically in the franchise sector. I hope this exhibition can be a place to share business concepts with visitors.” Septo said in his statement.
In three days of the expo, IFRA 2023 will involve more than 275 franchise companies and showcase 400 brands. Through the participation of plenty of franchise business practitioners, this business franchise exhibition aims to gain a total transaction of up to US$107.9 million (Rp1.65 trillion) and aims to attract 55,000 visitors.
Numerous business programs will also be showcased to enliven the 21st IFRA Business Expo 2023, such as The 7th IFRAPreneur Business Concept Competition (IFBCC), Business Presentation, Celebpreneur Talkshow, Business Classroom, Retirees Seminar, Business Matching, Meet the Experts, IFRA Awards and Gathering, Interactive and Lucky Draw, and Business Mascot Competition. Also, several new business programs will revitalize the IFRA Business Expo this year, spanning IFRA Business Podcast and IFRA Content Clash.
