Franchising sales reach P16 billion in 2016, up by 20% | SunStar

Franchising sales reach P16 billion in 2016, up by 20%

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Franchising sales reach P16 billion in 2016, up by 20%

Monday, October 02, 2017

THE franchising industry accelerated by 20 percent in 2016, from P16 billion total sales registered in 2015, and is expected to sustain the expansion in the next two years, the Department of Trade and Industry said in a statement.

With this, Trade Secretary Ramon Lopez called on franchisers to be innovative and creative in their business while recognizing them as a tool in economic development, particularly for micro, small, and medium enterprises (MSMEs).

“Through innovation and creativity, we are confident to see more local franchisers expand across the country’s borders”, said Lopez during the 16th Business and Franchise Expo of the Association of Filipino Franchisers Inc. (AFFI) in Pasay City last week.

The Philippines currently has 1,500 franchises, where 65 percent are Philippine brands. This translates to 140,000 franchise outlets, with the Philippine franchise sector generating more than a million jobs.

Lopez, an MSME advocate since his Go Negosyo days, is pushing for the 7Ms Framework (Mindset, Mastery, Mentoring, Money, Machine, Market Access, and Models) of the DTI to support entrepreneurship in the country.

In Cebu, one of the DTI-led MSME interventions is the Kapatid Mentor Me (KMME) program, in partnership with the Cebu Chamber of Commerce and Industry (CCCI).

Today, DTI Cebu will celebrate the first year of the program, and will hold the graduation of the third batch of MSME mentees at the City Sports Club in Cebu Business Park.

KMME aims to help micro entrepreneurs scale up their businesses through regular coaching and mentoring sessions from business owners and practitioners on different functional areas of entrepreneurship, such as those held in Negosyo Centers nationwide. (JOG)

Published in the SunStar Cebu newspaper on October 03, 2017.

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