The Philippines, though considered one of the third world countries due to the never ending global financial crisis, is now dubbed as the "franchising hub of Asia". And why not? Philippine franchise business is now one of the most outstanding and successful businesses in the country. This business model has become so successful that from the mere 50 franchising brands in existence during the 1980s, it now reached more than a thousand! No doubts about it - the franchising business in the Philippine is really on the go!
Just imagine, from only about 50 brands being franchised in the 1980's, the number of franchise businesses now grew to about a thousand. See how fast it grows! With this, the Philippine franchise business plays an important role in helping our ailing economy to improve. Actually, it adds about $6.6 billion or five percent to the Philippines GDP every year. It also provides employment to about one thousand Filipinos. These facts clearly reflect how franchising is making an enormous change for the country and its people.
Some of the top performing Philippine franchise businesses include food franchises such as food carts and kiosk as well as the more popular food chains like Jollibee and McDonald's; bars and cafes, and the bakery and food store franchises (41%). Service-based enterprise such as printing shops and call centers as well as education and training franchises are also very popular. They comprise about 32% of the total franchises in the country while retail franchises make up the remaining 27%.
If you think that only those who have inexhaustible financial resources can go into these types of business, think again! The truth is that even you can have one of these businesses. And depending on the type of franchise you want to put up, there's no need to invest much money. What you need to invest more in is knowledge on how to run the business. You also need to learn more about the product or service that will click with your future customers.
Wondering what franchise to choose? Well, it's best to choose a business that you're interested in. You can't make a business grow if you're not interested, right? Look at products commonly used at home and at work. For more ideas, consider the top rated franchises enumerated above.
Now, it's time to consider what franchise business suits you. You should go for what interests you most. You can also consider products or services commonly used at home or at work. Take the franchises mentioned above as examples. They provide for the needs of most people, and thus have big demand in their target markets.
After you've selected your franchise of interest, continue on your research about the product and the market where you'll sell it. You should also be knowledgeable about the perfect location for your chosen business and its cost requirements as well.
So, what are you waiting for? It's time to take action. Start your own Philippine Franchise business now and make a difference!
Just imagine, from only about 50 brands being franchised in the 1980's, the number of franchise businesses now grew to about a thousand. See how fast it grows! With this, the Philippine franchise business plays an important role in helping our ailing economy to improve. Actually, it adds about $6.6 billion or five percent to the Philippines GDP every year. It also provides employment to about one thousand Filipinos. These facts clearly reflect how franchising is making an enormous change for the country and its people.
Some of the top performing Philippine franchise businesses include food franchises such as food carts and kiosk as well as the more popular food chains like Jollibee and McDonald's; bars and cafes, and the bakery and food store franchises (41%). Service-based enterprise such as printing shops and call centers as well as education and training franchises are also very popular. They comprise about 32% of the total franchises in the country while retail franchises make up the remaining 27%.
If you think that only those who have inexhaustible financial resources can go into these types of business, think again! The truth is that even you can have one of these businesses. And depending on the type of franchise you want to put up, there's no need to invest much money. What you need to invest more in is knowledge on how to run the business. You also need to learn more about the product or service that will click with your future customers.
Wondering what franchise to choose? Well, it's best to choose a business that you're interested in. You can't make a business grow if you're not interested, right? Look at products commonly used at home and at work. For more ideas, consider the top rated franchises enumerated above.
Now, it's time to consider what franchise business suits you. You should go for what interests you most. You can also consider products or services commonly used at home or at work. Take the franchises mentioned above as examples. They provide for the needs of most people, and thus have big demand in their target markets.
After you've selected your franchise of interest, continue on your research about the product and the market where you'll sell it. You should also be knowledgeable about the perfect location for your chosen business and its cost requirements as well.
So, what are you waiting for? It's time to take action. Start your own Philippine Franchise business now and make a difference!
About the Author:
The author writes articles about Philippine franchises and helps people get started in franchise business in the Philippines.
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