CEBU, Philippines - With the current state of the economy, starting up a business seems too risky, that is unless if you are investing in something that is already well-established or on something that has already gained considerable consumer patronage, which can only be done through franchising.
Those planning to try their hands on operating their own business flocked to the SM City Cebu Trade Hall last September 11 for the opening of the 10th Cebu Franchise Expo with over 70 booths offering around 200 franchise and business opportunities.
Established companies and even start-up businesses from different industries ranging from food, garment, to health and wellness among others, exhibited what they could offer to interested partners.
Business owners admit that offering their businesses for franchise entails risk, however, it is also the most prudent way to expand one’s business.
Christian Cuenco, General Manager of six-month-old family KTV “Song Hits,” located in Mango Avenue, Juana Osmeña St., said that even though they just started with the business, they decided to accept franchisees since they have noted high sales owing to the love of Filipinos, Cebuanos in particular, for singing.
Cuenco said that they initially offer a franchise deal for P450 thousand but is also encouraging interested partners to take their P5 million franchise package, which already includes the franchise payment, a 24 room KTV, and guidance on how to run the business.
He said that through the franchise, they are optimistic that they would be able to achieve their goals of expanding and reaching farther places in Cebu and other provinces.
Meanwhile, the chief executive officer of OH! My Sisig, Angela Suarez said that though their main goal was to expand through their own efforts as a company, the inquiries from interested partners that flooded their office prompted them to decide to finally offer the business for franchising.
Suarez said that this is also part of their means in order to bring their product and company to other places, which presently is only found in Manila.
However, Suarez said they are very meticulous in terms of choosing the franchisee of OH! My Sisig, which is also done accordingly by other companies to make sure of the safety and quality of their company.
OH! My Sisig franchise costs P185 thousand, which already includes the OH! My Sisig cart, microwave oven, rice cooker, gulaman container, freezer, crew uniform, initial food supply, pre-opening assistance, use of the trade name and the operational manual, training of service crew, and training of the authorized dealer.
The 3-day expo, which ended yesterday was organized by the Filipino International Franchise Association, CEO Events and Expos Organizers Inc., and endorsed by RK Franchise Consultancy.
A franchise seminar was also conducted at SM City Cebu Conference Hall D, which tackled pertinent facts about franchising.