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Franchise businesses had gained a lot of popularity in the Philippines when a number of new business concepts were introduced. A popular example is food cart business which had become a very popular trend in the Philippine market and in the business industry. Popular Benefits of Food Cart Businesses The reason why food cart businesses became widespread is because of its affordability and simplicity. This and the support of different franchising companies in the country, food cart businesses quickly became a popular trend in the Philippine market. Advantage of Franchising in Food Cart Businesses The main advantage of franchise business in the Philippines compared to startup businesses is that franchisees, which are people who have acquired a franchise license from a franchisor, have the advantage of starting up quickly based on an already established brand, allowing them to make more profits than a business which would have to take more time and effort to build-up the same reputation or brand that a franchise business already have. In addition to that, franchising companies were also the reason why food cart franchise businesses became wide-spread all over the country. This is because of their marketing campaigns which aim to give information about the benefits of franchising for the average Filipino. Because of its affordability and its simplicity, many Filipinos can easily run a food cart business without having to invest millions of Pesos. Because of this, food cart franchise businesses quickly became a popular hit in the Philippine market, particularly among many Filipinos, such as OFWs, who are looking to increase their monthly income through businesses. Benefits of Food Cart Businesses in the Franchising Industry According to many business experts, the reason why the franchising industry of the Philippines had grown immensely within only a few years is because of the popularity and demand for food cart franchise businesses. According to the PFA or the Philippine Franchise Association, due to the continuous growth and demand for new food cart franchise business concepts, as well as the growing popularity of franchise businesses in the country, the franchising industry had now set the Philippines as the franchising hub of Asia when it comes to development and concepts of new small franchise businesses for the average Filipino. Business Loans for Filipinos Because of the growing popularity of franchise businesses in the Philippines, many loaning firms in the country had started offer new business loans which can accommodate the needs of many Filipino entrepreneurs in their efforts to start their of franchised business. A popular example is Ka Negosyo franchise and Business Loan Services by BPI that offers some of the most flexible interest rates which allows Filipinos to have the financial assistance they require to start their own food cart franchise business.
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