Tag: Asia

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What made the franchise industry of the Philippines successful? According to the PFA or the Philippine Franchise Association, the franchise industry of the Philippines had significantly grown in the last few years, from 50 franchises to more than a thousand franchises today. And according to them, the reason for its rapid growth is because of small franchise business in the Philippines such as food-cart and food-stall businesses.

Popular Small Franchise Businesses
Unlike in the past in which most franchise businesses are large businesses, such as convenient stores and fast-food restaurants, most franchise businesses today are small ones, such as food-cart and food-stall businesses.

Because of its relatively smaller size and far lesser expensive franchising costs, many Filipinos were able to franchise a business for their own, giving them the same opportunity that wealthier Filipinos have had with franchise businesses.

In addition to its lesser expensive franchise cost, small Franchising business Philippines such as food-cart and food-stall businesses became popular in the Philippines because it doesn”t usually require its franchisees to have acquired years of experience in a managerial position or have finished an MBA course, which are usually the case for larger franchise businesses.

According to the PFA, it was because of the simplicity of these small types of franchise businesses that made the franchise industry successful in the Philippine market, particularly in today”s modern trends in which franchise businesses had become a popular trend for many Filipino businessmen and women. This had also led to the significant growth of the franchise industry in the Philippines.

The Franchise Industry of the Philippines
The Philippines had received a number of recognitions due to the rapid growth of the franchise industry in the country.

The rapid growth of the franchise industry, according to the PFA, had led to the creation of thousands of enterprises and generation of hundreds of thousands of jobs, making franchising an important tool in the country”s economic growth, which gave had also given the industry entry to the international market, which led to the recognition of Filipino business concepts world-wide.

According to the PFA, the Philippines was also recognized as the “franchise hub of Asia” when it comes to the development of franchise concepts.

According to many business experts, it was because of these recognitions that made franchising the preferred business method for more and more entrepreneurs, both for old and new entrepreneur.

What made franchising a popular trend in the Philippines? Franchise businesses, such as food-cart and food-stall businesses, had gained a lot of popularity and demand in the Philippines. The reason why is because of the opportunity for Filipinos to start a successful business, while it also serves as a popular solution to poverty by the government.

Franchising Industry in the Philippines
According to the PFA, or the Philippine Franchise Association, the franchising industry of the Philippines had grown immensely since the start of small Franchising business Philippines, such as food-cart and food-stall businesses.

In a report by the PFA, the number of franchises in the country had grown from only over 50 in the 1990s, to over a thousand since 2009, and it kept growing even today.

Its growth was a major milestone in the franchise industry of the Philippines, and the government had also seen its potential as a solution to the growing problem of poverty in the Philippines. A popular application of franchise business by the government is when OFWs from Libya had fled the country to return home.

Because most of them doesn”t have any work in the Philippines, the government had gave them a free business management course on how to manage a small business, particularly managing a franchise business such as a food-cart or food-stall business.

In addition to that, another contribution that the franchise industry of the Philippines had given to its economic growth is by providing Filipinos with more jobs. According to the PFA, the growth of the franchise industry of the Philippines had created thousands of enterprises which generated hundreds of thousands of jobs, making franchising an important tool in the country”s economic growth.

Accomplishments for the Philippines
The growth of the franchise industry of the Philippines had also garnered a number of recognition for the Philippines in the world market.

According to the PFA, the growth of franchise business in the Philippines had recognized the Philippines as the “franchise hub of Asia” when it comes to the development of franchise concepts. This had also allowed entry into the international market of Filipino brands and concepts.

These and other achievements have made franchising the preferred business method for more and more entrepreneurs “” both aspiring and established.

Franchising had become a popular trend in the Philippines due to the many new franchise businesses available in the market today that can offer significantly lower franchising cost compared to what franchise businesses in the past. These kinds of popular Franchising business Philippines are food-cart and food-stall businesses.

Popularity of Food-Cart and Food-Stall Businesses
Food-cart and food-stall businesses had become wide-spread all over the Philippines today. The reason why is because of franchising businesses which had promoted these types of small businesses to average Filipinos.

The advantage that made these types of franchise businesses popular, according to many experts, is because of its affordability, making it easier for the average Filipino to start their own profitable business.

Simplicity of Food-Cart Businesses
Part of the reason that made food-cart and food-stall franchise business in the Philippines simple, other than its relatively lesser expensive franchising cost, is its requirements.

Unlike larger franchise business, such as convenient stores or restaurants, a food-cart and food-stall businesses normally requires smaller investments in terms of location and space.

The simplicity of these businesses made it easier for Filipinos to manage their own businesses, even though they lack the necessary knowledge in handling a business.

But what made these small businesses even more popular, according to many experts, is that it doesnt necessarily require franchisees to have attained experience in a managerial position or have acquired a degree in business administration.

Contribution of Franchise Industry to the Economic Growth of the Philippines
The popularity of food-cart and food-stall businesses in the Philippines had largely contributed to the growth of the franchising industry of the Philippines. However, other than the growth of the sector, franchise businesses had also contributed to the growth of the Philippine Economy.

The PFA, or the Philippine Franchise Association, is the pioneer and biggest franchise association in the Philippines. It is the voluntary self-regulating governing body for franchising in the country with 180 franchisors and allied members nationwide.

According to them, the growth of the franchise industry had also contributed to the economic growth of the Philippines. This includes the creation of thousands of enterprises and generation of hundreds of thousands of jobs, making franchising an important tool in the countrys economic growth. Additionally, the franchise industry had also contributed to the growth of the Philippines as the franchise hub of Asia when it comes to the development of franchise concepts.