The Pfa And Franchise Industry

Franchising, according to the PFA or the Philippine Franchise Association

, had grown immensely for the past few years, and this is due to the many new franchising concepts which not only gave rise to the franchise industry but also the opportunity for many Filipinos to live in comfort with their own profitable small businesses.

The PFA and Franchise Industry

The Philippine Franchise Association, or the PFA, was founded in 1995 and 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.

PFA members are bound by the Fair Franchising Standards (FFS). By adhering to this code of ethics, PFA members commit themselves to respect and to apply fair set of provisions in the conduct of the sale of their franchises.

According to the PFA, the franchise industry had grown immensely since the 1990s, in which at that time, the number of franchises is within 50, while the number of franchises today had grown to over a thousand. One reason that they see is the popularity of small franchise businesses, such as food-cart and food-stall businesses.

Popular Franchises

Food-cart and food-stall Franchising business Philippines had gained a lot of popular among many Filipinos today. The reason why, according to many experts, is its lesser expensive franchising cost which allowed many Filipinos to have the same opportunity that many wealthier Filipinos have had with larger franchise businesses.

Its small size also made it easier for them to manage, which can be easily manned by one or two personnel. In addition to that, these types of franchises usually dont require their franchisees to have acquired enough managerial experience or an MBA.

Because of this, franchise business in the Philippines had quickly grown all over the country, which had also contributed to the success of the franchise industry in the Philippines.

Contribution to the Economic Growth of the Philippines

According to the PFA, the massive growth of the franchise industry had also contributed to the growth of the Philippine economy, such as the creation of thousands of enterprises and generation of hundreds of thousands of jobs, making franchising an important tool in the countrys economic growth.

The growth of the industry had also placed recognition in the Philippines as the franchise hub of Asia when it comes to the development of franchise concepts. This also allowed the entry into the international market of Filipino brands and concepts.

by: Anita Gomez

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