CEBU, Philippines - Franchising is the best way to expand your business. If you want to grow your company, do franchising. If you have the money, invest in franchising, a consultant said.
RK Franchise Consultancy Inc. Founder Rudolf Kotik described the franchising industry in the province as excellent as more and more franchises are opening in Cebu.
Evident to such, he added, is the minimum 20% growth every year nationwide.
While 2/3 of those franchises are food – based and the rest are non-food, he said that it is necessary to choose to which network a franchisee would venture since both have the same success rate.
He further noted that in the industry, it is always a mutually-beneficial relationship between the franchisor and franchisee.
Franchising enables the franchisor to have his business grow faster by opening several branches all at the same time with the use of other people’s money, he continued.
While the franchisee, he cited, benefits from the former since the latter invests in a business that is already proven and tested as profitable.
Meanwhile, the Filipino International Franchise Association (FIFA) recently held the Franchise and Investment Expo last July 20 – 22 at Parkmall, Mandaue City.
The event featured real estate developers, insurance providers, banks, franchisors and other business opportunities.
Kotik said that the expo was tiered to give people an idea what to do with their money.
Participated by only 17 exhibitors, he added that such figure was an advantage for them since there was no competition among themselves. (FREEMAN)