Despite the global financial crisis, Filipino franchisers are confident they will survive and even thrive during these difficult times because of the proven built-in mechanisms that shield the franchising business from economic downturns.
Armando “Butz” O. Bartolome, regarded as the Philippine franchising guru and president of GMB Franchise Developers, said established brand, business system and leverage in numbers are some advantages of franchising that can be capitalized upon even more in difficult times.
“Both franchisors and franchisees can develop creative and innovative ways to face up with the crisis. These are all possible due to the unique and distinct features of this type of business relationship,” Bartolome noted.
For example, in the United States, Bartolome said McDonald’s USA has already issued a corporate memo indicating it will take steps to minimize the impact of the credit crunch for its franchisees and is offering other ways of financing its franchisees’ renovation and new product lines.
This, he explained, is one concrete example of how franchising is a better way to cope with economic uncertainties.
To give franchisors and franchisees better knowledge on how they can team up more effectively during times of crisis, Bartolome has scheduled back-to-back seminars on Nov. 15 and 17.
Knowing there will be some unscrupulous businessmen who might use the franchising business to gyp others of their hard-earned money, Bartolome will kick off the seminar with the subject “Tips and traps in investing in a franchise business” on Nov. 15.
On Nov. 17, Bartolome will follow this up with an instructive subject on “Facing 2008 Challenges for operating Franchisees” where he will walk participants through the basics of franchising and how this can be explored to cope with economic uncertainties as well as innovative and creative ways franchisees can use to perform better when costs soar and sales slide down.
For inquiries, send email to franchiseconsultants@gmail.com or call 532-8386.