AS long as the country’s economy continues to soar, franchising applications in the Philippines are projected to rise with high interest from Southeast Asia, a top official of the Philippine Franchise Association (PFA) said.
“With the gross domestic product (GDP) growing the way it is projected, then there will be more franchise applicants. And because of that, the more we have to be supportive of the industry,” said PFA chairman and Goldilocks vice president Franklin Go.
“We have seen a lot of small homegrown entrepreneurs shining and as they shine, one day they might be able to compete globally. So we are hoping that this will go way, way up. That is how we are excited about the industry,” he added.
According to Go, Philippine franchising is not only becoming popular in the local scene but also in the regional level, with high interest from neighboring countries.
“We are seeing a lot of applicants from the ASEAN coming here,” he said. He noted that PFA has mapped out ASEAN countries where their members can visit, promote their brands and expand.
From five percent contribution in total retail sales in 1995, franchising today contributes 40 percent in total retail sales in the country.
“Franchising is a venture where there is no trial and error,” he said.
Go was recently in Cebu for the three-day franchising expo “Franchising Negosyo para sa Cebu 2017” held at Ayala Center Cebu. Some 36 franchise brands from food, retail, and services participated in the expo over weekend.
“The show was packaged for those who want to start their own business and become their own boss. Our exhibitors are both homegrown and international brands who are continuously expanding through franchising,” said Kenneth Lim, PFA Visayas director and Dessert Factory owner.
Go said it is the thrust of the PFA to mount provincial franchise expos to stimulate Filipinos to become entrepreneurs. PFA will be mounting expos and seminars to Cagayan, Iloilo and Davao.
Food remains the hottest pick among franchise businesses, followed by services. Wellness franchise packages are also rising.
Go advised would-be entrepreneurs who don’t have a background in business to visit franchise expos and attend seminars.
“Get acquainted with the exhibitors and find out what is really for them. They can come to us and inquire about how to franchise. We are here to help interested parties who don’t have any idea about franchising,” said Go.
Published in the Sun.Star Cebu newspaper on March 21, 2017.
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