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What are the advantages of franchising a business rather than starting a business of your own? According to many business experts, the main advantage of franchise businesses is that franchisees are given the advantage of starting a well established business in the market based on proven trademark, which is unlike that of starting one’s own business from the ground-up. This is the reason why franchise businesses had gained a lot of popularity in the Philippines. However, other than those, there are also other reasons why Negosyo franchise in the Philippines had gained a lot of popularity among many Filipinos. The Advantage of Franchise Businesses in the Philippines Other than the success of the franchisor is also the success of the franchisee, there are also other reasons why the franchise industry of the Philippines had grown immensely. One of those is because of its affordability. Other than convenience stores and fast-food restaurants, there are also a number of new franchise businesses in the Philippines today that can offer more affordable franchise costs compared to franchising a convenient store, such as 7eleven. A popular example is a food cart business. Food cart businesses are some of the most popular types of businesses in the Philippines today, and one of the reasons why is because of its affordability. According to many business experts, the cost of a food cart franchise business today can range from hundreds of thousands of Pesos, to tens of thousands of Pesos. The lowest food cart franchise cost today is around P20,000 Philippine Pesos. Because of this cost, any Filipino with enough capital can easily start their franchise business. However, other than those reasons, there are also other reasons why franchise businesses had gained a lot of popularity in the market. One of those is because of its availability in which the types of franchise businesses in the Philippines today had continuously evolved over the past few years. However, the main reason why Kanegosyo franchise business Philippines had gained a lot of popularity in the market is because of the thought that setting up one’s own business, particularly a business as simple as a franchise business, is the only way for them to secure their future and to prevent poverty. This is the reason why the Philippine government had included franchise businesses such as a food cart business as their solution for OFWs wanting to stay in the Philippines.
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