The franchising sector in the Philippines has been experiencing phenomenal growth since the 80’s. It has, in fact, become an effective strategy for entry into business, producing a number of successful homegrown businesses and spurring the growth of entrepreneurship in the country.
Location, ingenuity and human rich resources are the key.
“The Philippines is a key location for successful businesses to branch out. With limitless Filipino ingenuity and rich human resources for an educated, highly-trainable and dependable working force, the global market is not far from our reach” states Froilan Manotok, business and franchise development head and conference chair of Franchise 2008, the 16th Philippine International Franchise Conference and Expo (PIFCE), slated on July 9 to 11, at the Renaissance Hotel in Makati City, and co-presented by PLDT Business Solutions and Seaoil.
Among the top players in global franchising are:
• Food. While food is a franchise that will never go out of style, health consciousness has created a new market for food franchises, particularly those serving salads, smoothies, and other guilt-free food for people taking a more active interest in their diet.
“The food service category is always growing in franchising, and will continue to offer new concepts and niche products to cater to the market’s demands,” Manotok confirms.
• Body and Beauty. Franchised personal services in the form of gyms, spas, and salons are also profitable business ventures as more and more innovations become available on the market for weight loss, grooming, beauty treatments, massage, and even medical procedures such as cosmetic surgery and laser vision correction.
“The desire to stay fit and look good has spurred the growth of these franchises,” reports Manotok. “Beauty and fitness franchises may be young, but they are already a multi-billion industry all over the world.”
• Education. Franchised services are also expanding into the markets of childcare and child development. These are franchises in the form of tutorial service centers, pre-schools, play schools, and learning centers.
“Children’s education and development franchises are big players right now, as more and more consumers invest in their children, even before the schooling age,” says Manotok.
• Unique concepts. Introductory products and innovative franchise concepts also shake up the franchising world, usually involving original and sometimes wacky ideas that click with the market.
“This is ingenuity at its best,” comments Manotok, “and our homegrown businesses showcase this. Franchising is one of the best ways to welcome the entry of these concepts, and it has paid off for hundreds of Filipino entrepreneurs.”
The upcoming PIFCE showcases an in-depth look at trends and opportunities in the global franchise landscape. With the theme “Secrets to Franchising Success,” the conference focuses on franchising as a strategy for entry into business and expansion, revealing success stories from homegrown franchises, the entry of new players in the market, and the growth of entrepreneurship in the country, all creating economic opportunities for Filipinos. Log on to www.philippinefranchiseassociation.com.