Bangkok--5 Jun--KASIKORNBANK
KBank joins hands with TOT to provide financial support for employees so they become professional franchisees. The Bank is offering special interest rates and knowledge about operating quality franchise businesses. Franchise opportunities are a low-risk means of generating earnings. KBank said outstanding loans for franchise businesses are at 1,500 million Baht and there is no record of non-performing loans (NPL).
Mr. Pipavat Bhadranavik, KASIKORNBANK First Senior Vice President, said that most early retirees are still healthy and knowledgeable enough to pursue other professions in order to provide for their families. Therefore, KASIKORNBANK and TOT PCL created a program to offer financial support for TOT employees to run a business professionally. Since building a startup is not simple, franchises are an excellent choice for them to own a business that can grow strongly.
Employees who are interested in participating in this program can choose from any of the franchises that KBank has carefully selected, after careful consideration of their excellent records of stability, credibility, sound management and market recognition, so employees can rest assured that they have a great growth potential. Some participating franchisors may include 7-Eleven (international chain of convenience stores), Billion Coffee (coffee shop), AutoGlym (car care business), The Waffle (bakery shop), N&B Pizza Crepe (pizza, pancake and crepe chain), Smart English and MU Tutor (tutoring schools), etc.
In doing so, KBank plans to provide long-term financial support for business startups with special conditions by offering a 1-percent reduction on the interest rate throughout the credit term. Offers will also include special privileges, discounts on franchise fees, knowledge sharing on business management and consulting services on money management so investors can enjoy fruitful returns on investment.
The collaboration between KBank and TOT in providing opportunities for TOT employees to own a business should be a constructive prototype program, for company staff to start up a new business and provide sustainable income for their families, after beginning their early retirement. KBank also plans to extend this collaboration with other private organizations and state-owned enterprises. The present-day franchises are popular among existing and new entrepreneurs with limited funds, but desiring to have a business of their own. So, franchises are ones of the top choices as these businesses offer high returns to large investment at low risk.
Mr. Pipavat added that KBank maintains its aims in offering support to small and medium enterprises (SMEs) and franchises, both through loans for franchise business development and through funding for franchisees. This support is clearly directed at new startups, as franchises are the types of business that can be convenient to implement at a nominal risk, due to the fact that franchises usually carry precise business plans. Participating franchises have been selected on the grounds of their positive qualities. In regard to this portfolio, Mr. Pipavat stated that KBank’s outstanding franchise loans are currently at 1,550 million Baht, with no record of NPLs.
Meanwhile, Mr. Rungsun Channarukul, TOT Senior Executive Vice President, stated that TOT recognizes KBank’s well-defined promotions around financial planning and management, as well as financial support on franchises for TOT retirees. So far, those beginning their early retirement have been interested in planning their financial management in various ways to continue making a living. For those who are interested in having their own business, KBank can provide recommendations for interesting and promising franchises. Mr. Rungsun also said that TOT chose KBank for this program because KBank has always been prominent in its support for SMEs, while having a many distinctive franchises which qualify as sound investments, representing significant opportunities for TOT employees to truly and professionally conduct their retirement businesses. Furthermore, those who are interested in investing in agro-businesses, KBank also offers investment options for livestock businesses through the Bank’s Contract Farming program, which a wide variety of farm producers participate in, to ensure the efficient management of their interests.