The Philippine franchising industry maintains its growth trajectory with the continued interest among Filipinos to start a business via franchising. This was disclosed by the Philippine Franchise Association (PFA) as it stages the 27th edition of Franchise Asia Philippines, Asia’s biggest franchise event.
“With a high success rate, franchising proven itself to be a reliable model for embarking on a business even for newbie entrepreneurs,” said PFA President Richard Sanz. “A franchise with an excellent system in place can offer a ready market share and established brand. Complemented with consistent support from the original business owner, it helps decrease the risk for failure and will help propel a trade venture on its way to success,” he further explained.
But the problem with some businesses is that they lose momentum after a spectacular beginning. With proper knowledge, planning and attitude, creating a sustainable, booming business is attainable.
Key to Business Longevity
The key to longevity, according to some franchisors, include focusing on the business, having a clear understanding of the market, capturing an existing but unfulfilled market niche, and increasing accessibility.
Mr. Sanz, who is also founder of Bibingkinitan, had claimed the empty space in the market for bite-size bibingka paired with barako coffee in 2006. The company made the delicacy usually on hand during the Christmas season available all year and rapidly expanded to over 200 stores.
Another example is Potato Corner co-founder Joe Magsaysay, who opted to remain focused on the company’s vision despite the entry of competitors and looming economic crisis during the 90s. Potato Corner had stayed driven by its five-year business plan that included streamlining and building systems for the company and strengthening supply chains.
Franchising, meanwhile, was one of the key strategies used by Max’s Restaurant CEO Robert Trota to bring this much-loved brand into the new millennium. The brand has since grown to Max’s Group Inc. and is recognized as a builder of global and loved brands.
Sustaining Business Growth, Creating Legacy
Various approaches on how to keep a business beyond afloat and a host of related topics will be tackled in the upcoming Franchise Asia Philippines 2019. With the theme Growing Businesses, Building Legacies, this international conference aims to highlight the role of franchising in sustaining growth and longevity in the business setting. The conference which features over 70 subject matter experts, is definitely not only for franchising. Rather, it is a capacity-building event for business owners and entrepreneurs as well. The conference is on March 27 to 28, 2019.
The 4-in-1 biggest franchise show in Asia will also feature a three-day international expo that is a one-stop shop of franchise and other investment opportunities from home-grown and foreign concepts from March 29 to 31. Its theme Be the Boss will emphasize the role of franchising in realizing the entrepreneurial dreams of many Filipinos.
Also happening on March 29 to 31, business matching and networking sessions with education seminars will be offered to aspiring franchisees and potential franchisors.
Opening the week-long activity is a two-day Certified Franchise Executive (CFE) Program to help professionalize the Philippine franchise sector and help sustain efforts in raising the global competitiveness of Philippine franchising on March 25 to 26. This will be held at the Asian Institute of Management at Makati City.
Franchise Asia Philippines is annually staged by the Philippine Franchise Association (PFA), the country’s pioneer and largest franchise association with members ranging from micro to large, both homegrown and international businesses involved in food, retail, services and other types of businesses.
Franchise Asia Philippines pushes for the continued development of the local franchising sector as a critical component for enterprise creation and job generation. It also seeks to promote a more globally-competitive industry, bringing local brands closer to the foreign market.
PFA is home to the country’s most trusted franchise brands, many of which have already gone international. The enduring vision is to position the Philippines as the “franchise hub of Asia.” Recently, it collaborated with other franchising associations and the Philippine Trade and Investment Centers for a franchise investment roadshow held in Dubai.
Franchise Asia Philippines is co-presented by Bank of the Philippine Islands (BPI) and PLDT
Enterprise. For details about the event visit http://www.pfa.org.ph, http://www.franchiseasiaph.com or http://www.facebook.com/franchiseasiaph. Those who want to visit the Expo may register online to get a free pass. For inquiries, contact the PFA Secretariat at (632) 687-0365 to 67 or email firstname.lastname@example.org.