Tag: PFA

The success of franchising business in the Philippines didnt only contribute to the growth of the sector, but also the growth of the Philippine economy due to its demand among the wealthy as well as the average Filipino.

Franchise Businesses Today
Unlike in the past in which most franchise business in the Philippines were large businesses such as convenient stores and fast-food restaurants, most franchise businesses in todays market are small businesses such as food-carts and food-stall businesses.

Other than its relatively smaller size compared to convenient stores and restaurants, food-cart and food-stall businesses can also offer a relatively lesser expensive franchising cost, in which according to many business experts in the Philippines today, can go as low as 20,000 Philippine Pesos a franchise.

Because of its affordability, food-cart and food-stall businesses quickly became popular and in-demand in the Philippine market, in which many business experts have said, had largely contributed to the growth and success of the franchise industry in the Philippines.

Contribution to the Economic Growth of the Philippines
The growth of the franchise industry had also contributed to the growth of the Philippine economy, according to the PFA or the Philippine Franchise Association which 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 the PFA, due to the popularity of food-cart and food-stall businesses, the number of Franchising business Philippines in the country had significantly grown from 50 in the 1990s to over a thousand today.

This growth had also reflected on the growth of the Philippine economy. According to them, the massive growth of the franchise industry had created thousands of enterprises and generation of hundreds of thousands of jobs, making franchising an important tool in the countrys economic growth.

Other contribution include the entry into the international market of Filipino brands and concepts, development of the Fair Franchising Standards, which ensures just and mutually beneficial business dealings between franchisor and franchisee, and the growth of the Philippines as the franchise hub of Asia when it comes to the development of franchise concepts.

Franchise businesses, according to many business experts, had also become a popular solution to poverty, in which many Filipinos had invested in acquiring a franchise of a small food-cart business so as to secure their future and the future of their family.

The government had also used franchise businesses as their solution for OFWs or Overseas Filipino Workers who chose to stay in the Philippines with their family rather than to work abroad.

ARTICLE BODY:

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.

What made the franchising industry of the Philippines successful? According to the PFA or the Philippine Franchise Association, the franchising industry of the Philippines had gained significant growth over the past couple of years. The reason why is because of the many new franchise businesses available in the country today, such as food-stall and food-cart businesses.

Franchise Businesses from Then and Now
According to the PFA, most franchise business in the Philippines were large businesses such as convenient stores, fast-food restaurants, and many others. Because of this, most of those which were able to franchise a business were wealthy Filipinos, companies, and corporations.

Today, however, a number of new franchise businesses were made available in the Philippines which can offer many more Filipinos the same opportunity that wealthier Filipinos have had with Franchising business Philippines. This is when food-cart and food-stall businesses were introduced as a franchise business in the Philippines.

Success of Food-Cart Businesses in the Philippines
Food-cart and food-stall businesses were first established as small businesses by private Filipinos. However, when different franchising companies and corporations in the Philippines have found its potential as a small franchise business, many of these have started to acquire the ownership of those small businesses and distribute it as a franchise business for the average Filipino.

Since then, the popularity of franchise businesses had significantly grown, particularly for these businesses. So what are the benefits can these types of businesses offer:

Affordability
One main reason why these small franchise businesses became popular is because of its affordability. Compared to larger franchise businesses, food-cart and food-stall businesses are far more affordable, allowing more Filipinos to have the opportunity to start their own successful and profitable business.

Simplicity
Another reason why franchise businesses became popular is because of its simplicity which allows its franchisees to manage it by themselves. Because of its relatively smaller size, these businesses can be easily placed and moved from place to the other. And in addition to that, these businesses can also be easily manned by one or two personnel.

Availability
Another reason why franchise businesses had gained a lot of popularity in the Philippines is because of its availability. As the industry grows, the number of new food-cart and food-stall franchise businesses had also grown, which introduced many new franchise businesses that gave more choices for Filipinos from which of these small businesses are suitable for their preference.