Success Of Small Franchise Business In The Philippines

According to the PFA or the Philippine Franchise Association

, the franchise industry of the Philippines had grown more successful for the past few years, particularly when small franchise businesses such as food-cart and food-stall businesses had boomed in the Philippines.

Success of Small Franchise Business

Small Franchising business Philippines such as food-cart and food-stall businesses gained a lot of popularity and demand in the Philippine market. The reason why is because of its lesser expensive franchising cost, for the same opportunity of starting a profitable business.

Advantages of Franchising

The advantage of franchise businesses is that it allows people to use another firms successful business model, giving them the opportunity to gain as much income as that firm had with their business.

In addition to that, franchising also offers people, or franchisees, the advantage of starting up quickly based on a proven trademark, and the tooling and infrastructure as opposed to developing them.

Because of these advantages and opportunities, along with its less expensive franchising cost compared to larger franchises, food-stall and food-cart franchise business in the Philippines became very popular and in-demand, which had also started a popular trend in the Philippines that gave rise to the franchising industry of the Philippines.

Franchising Industry of the Philippines

Due to the growth of franchising businesses in the Philippines, particularly with the growth of small franchising businesses, the franchise industry had grown immensely since the 1990s.

According to their report, from 50 franchises in the 90s, the number of franchises had grown dramatically a thousand in 2009, and more than a thousand in todays market.

But other than for the growth of the franchise industry, the growth of the industry had also contributed to the significant growth of the Philippine economy.

The growth of the franchise industry had created thousands of enterprises which in turn generated hundreds of thousands of jobs, making franchising an important tool in the countrys economic growth.

The growth of the industry also gave entry into the international market of Filipino brands and concepts. And due to its growth, the Philippine was eventually recognized as the franchise hub of Asia when it comes to the development of franchise concepts.

by: Anita Gomez

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