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A Franchise Business for the Masses by Anita Gomez
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A Franchise Business for the Masses |
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Real Estate
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Franchising is one of the most popular trends in the Philippines today. The reason why is because many Filipinos today are able to acquire a franchise due to the many new franchising businesses in the Philippines today that can offer lesser expensive franchising cost to the Filipino. Some of these franchising businesses are food cart franchise businesses. A Franchise Business for the Masses According to many experts, franchise business Philippines in the past are mostly large businesses, such as fast-food restaurants like McDonald’s, Wendy’s, and KFC, as well as convenient stores like 7eleven and Mini Stop. Because of these, franchise businesses are usually the business for the wealthy as well as for companies and corporations through joint ventures. This is because of the amount of franchise cost that these businesses are known for. However, it was because of franchising that those businesses were introduced in the country. Today, however, franchise business in the Philippines had gained a lot of popularity in the country, particularly when a number of new franchise businesses were introduced in the country. This is when small franchise businesses such as food cart or food stall businesses were introduced in the country. One reason why these franchising businesses became popular is because of its affordability. Unlike larger franchise businesses, food cart or food stall businesses are far less expensive, allowing more Filipinos to have the same opportunities that wealthier Filipinos have had with franchise businesses. And with the help of different business loan services, such as Ka-Negosyo by BPI, franchise business Philippines had grown more popular and successful. Economic Impact of Franchising Businesses According to the PFA, or the Philippine Franchise Association, the growth of the franchising industry in the country had also contributed to the economic growth of the Philippine economy. According to them, the growth of small franchise businesses such as food cart franchise businesses had created thousands of enterprises and generation of hundreds of thousands of jobs, making franchising an important tool in the country’s economic growth. In addition to that, the growth of the franchising industry, along with the popularity and demand for small franchise businesses such as food cart or foods stall franchise businesses had also allowed the Philippines to gain entry into the international market of Filipino brands and concepts. And because of franchise businesses, the Philippines was also recognized as the “franchise hub of Asia” when it comes to the development of franchise concepts.
Related Articles -
Franchise business Philippines, Franchise business in the Philippines,
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