Pinoys urged to venture into biz thru franchising

CEBU, Philippines —  The Philippine Franchise Association (PFA) is urging Filipinos to enter into entrepreneurship through an easy channel via franchising.

Philippine Franchise Association (PFA) President Richard Sanz said aside from its short-cut and effective way into business, franchising also creates more jobs and boost trade in the country.

“We are unleashing an army of entrepreneurs. Franchising is about building an army of entrepreneurs. Every franchisee is an entrepreneur,” noted Sanz in a statement.

“Philippine franchising grew exponentially and has become a frontrunner in global franchising today,” he said.

Prior to the introduction of PFA to micro, small and medium enterprises (MSMEs) about franchising as a strategy for growth, Sanz said franchising was limited to foreign brands and large companies and it hardly made an impact to the economy.

Today, Philippines is the seventh country with the highest number of franchise brands, following Korea, India, United States, Taiwan, Brazil and France.

“Filipino brands are expanding rapidly, there are about 30 Filipino global brands in the world right now but we want to see 100 Filipino global brands three years from now in 2022,” he added.

Filipino International Franchise Association (FIFA) founder Rudolf Kotik said aside from food outlets that are offering mango flavored snacks, beverages, sweets, other business concepts other in demand businesses for franchises locally and globally are self-service laundromats, education and tutorial services, specialized beauty services, and animal care services.

There are currently 1,800 franchise brands in the country with total output of USD25 billion and creating over one million jobs.