Franchising has become a successful business model globally, and Thailand has been no exception. According to information from the Franchise & Thai SMEs Business Association, there are approximately 400 Thai franchisors seeking franchisees for businesses ranging from restaurants to daycares and from tutoring institutions to convenience stores. Currently, there are over 10,000 franchisees in Thailand. Franchising businesses are rapidly expanding, yet Thailand still lacks a specific regulatory law to govern such businesses. This is surprising, as a draft of the Franchising Business Act was first released to the public in 2006, but not until recently has it returned to public attention. A public hearing, organized by the Ministry of Commerce, was held in March 2011.