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There are many popular businesses that OFWs or overseas Filipino workers have started to help them in their efforts to give their loved ones a better life. One of those is franchise business. So what are the reasons that made franchise businesses a very popular type of business in the country, particularly among many OFWs? Franchise Businesses in the Philippines What made franchise businesses popular in the Philippines is because of its many benefits which made it easier for Filipinos, particularly among the many OFWs. One reason why OFWs had gained a lot of popularity is because of its affordability. According to the PFA or the Philippine Franchise Association, the Negosyo franchise had gained a lot of popularity in the country because of the many new types of franchise businesses that not only gave Filipinos as well as OFWs the chance to easily start a business of their own, but also gave them a franchising cost which they can easily accommodate. The franchise industry of the Philippines today had grown massively from less than 50 franchises in the 1990s to over a thousand today. Benefits of Franchise Businesses Some of the most apparent reasons why franchise businesses had gained a lot of popularity in the country is because of its affordability. Compared to most franchise businesses in the country, such as convenient stores and fast-food restaurants, a number of new franchise businesses in the country are now known for its affordable costs, which made it easier for middle-wage earners as well as OFWs to own a business. Popular types of franchise businesses that offer such costs are food cart businesses. In addition to its affordability, another major advantage of franchise businesses is its availability. There are literally thousands of franchise businesses in the market today where Filipinos and OFWs can choose from. This allows them to easily pick a type of business that suits their interest. Business Loans for OFWs There have also been a number of loaning firms and banks that offer different business loans that cater to the needs of OFWs. A popular example is the Business loans Philippines that BPI’s Ka-Negosyo offers to OFWs. Because of this service, many OFWs were given the means for them to start their own business or to franchise a business, which will give them the hope that someday, their business will be enough to sustain their needs, giving them the chance not to work abroad and to leave their family in the Philippines.
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Business loans Philippines, Franchise business in the Philippines,
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