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Food cart businesses are considered today as some of the most popular businesses in the Philippine market. Almost every mall, shopping centers, sidewalks, LRT or MRT stations, or even the local wet markets, are known to sport a food cart business or two. And most of these food cart businesses are franchised businesses. Food Cart Franchise Businesses According to the PFA or the Philippine Franchise Association, one of the most popular Negosyo franchise in the Philippines is food cart. Part of the reason why these types of franchises businesses had gained a lot of popularity in the market is because of its affordability compared to other franchise businesses. Popular franchise businesses in the past were convenience stores such as 7eleven as well as fast-food restaurants like McDonald’s, Jollibee, and many other. Although popular, wealthy Filipinos were the only ones who were able to afford its franchise costs. Food cart businesses, on the other hand, are far more affordable, which allows even the many middle-wage earners to afford franchising a business. In addition to its affordability, there are also other reasons why food cart franchising business had gained a lot of popularity in the Philippines, and that include its diversity. Popular types of food cart businesses are those that sell popular Filipino street food like siomai, kwek-kwek, tokneneng, fishballs, squidballs, and kikiams. Other than these, many food cart businesses in the market had also introduced selling burgers, shawarmas, fried noodles, rice meals, donuts, pizzas, and other popular food stuffs like sisig, as well as drinks like shakes and popular Filipino beverages such as gulaman. Because of its availability, Filipinos were given the luxury of choosing a food cart business that fits their passion. However, not all Filipinos can easily afford to franchise a business. Although there are many affordable food cart franchise businesses, many still desires to take a more established food cart business, which are usually very expensive. Financial Support for Filipinos Banks such as BPI had introduced a new loan service which aims to offer business loans for Filipino entrepreneurs, and this is with their Ka-Negosyo business loan services. Ka-Negosyo is a new addition to Bpi business loans, such as the Auto-Loan and Home-Loan service. Because of their services, many Filipinos were finally given the chance to franchise a business or to start their own business from scratch, even though they lack the necessary funds for it.
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