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The Historical Success of Franchise Businesses in the Philippines by Anita Gomez
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The Historical Success of Franchise Businesses in the Philippines |
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Real Estate
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What made franchise businesses popular in the Philippines? According to many Filipinos, the reason why franchise businesses had become a popular trend in the Philippines is because of its affordability and its simplicity which gave many Filipinos the opportunity to easily establish a very profitable business. But did you know that franchising had been practiced in the Philippine way before it had gained popularity in the country? The First Franchise Business Although it was only recently in which franchise businesses had gained a lot of popularity, this business process was already practiced by different businessmen and women in the past. The only reason why it wasn’t as widely known as it is today is because franchise business Philippines in the past are mostly expensive businesses. International fast-food chains and convenient stores like McDonald’s, Wendy’s, Burger King, KFC, 7eleven, Mini Stop, and many more, were only able to penetrate the Philippine market through franchising, in which a number of companies and corporations in the country had gone through several joint-ventures to allow these businesses to operate in the Philippines by a company that acquired a franchise of these businesses. Those companies had also provided franchising deals for these businesses, but the only Filipinos which were able to accommodate its very expensive franchising costs are wealthy families. Because of this, franchising was not as widely known as it is today. However, this had changed when a number of new franchise business in the Philippines were introduced which offered lower franchising costs and royalties. These types of franchise businesses are mostly food-cart franchise businesses. The Popularity of Food-Cart Franchise Businesses Have you ever wondered why food cart businesses had gained a lot of popularity in the Philippines? This is not only because of its simplicity or its affordability. This is also because of the efforts of different franchising companies which aim to provide Filipinos the same opportunity that wealthier Filipinos have had with franchising. Because of its many benefits, food-cart franchise businesses quickly became popular and in-demand in the Philippine market, particularly among those who seek to improve their lives through establishing a successful and profitable business. Growth of the Industry through Franchising Businesses Because of the continuous growth of franchise businesses in the Philippines, the franchising industry of the Philippines had also grown immensely. According to the PFA or the Philippine Franchise Association, the popularity of food-cart franchise businesses in the Philippines had set a new trend in businesses, which had also contributed to the economic growth of the Philippines.
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Franchise business Philippine, Franchise business in the Philippines,
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