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Franchise Businesses in the Philippines by Anita Gomez
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Franchise Businesses in the Philippines |
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Business
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Franchising businesses are popular among many Filipinos today. The reason why is because of its many benefits and advantages compared to starting their own business from scratch. Here are some important and popular benefits that made Franchising business Philippines popular: Unique Benefits of Franchise Businesses Franchising had been in the Philippines for many years. It was because of this unique business process that many recognized companies and services were established in the Philippines, such as McDonald’s, Wendy’s, Kenny Rogers, Burger King, 7eleven, and many others. However, unlike in the past in which most of those that can afford to acquire a franchise are wealthy Filipinos, many of today’s popular franchise businesses gave the same opportunity for average Filipinos. This is when food-cart franchise businesses were introduced in the Philippine market. Same Success Opportunity for Less Expensive Costs Part of what made franchise businesses popular is because of food-cart businesses. According to many business experts, food-cart or food-stall businesses had become a popular business trend in the Philippines today, in which many of these are now found in many high foot-traffic places such as in shopping centers, malls, wet markets, train and bus terminals, and even in the side-walks. And part of what made these businesses popular is because of franchising companies. Because of its relatively smaller size compared to a fast-food restaurant and convenient stores, food-cart and food-stall businesses are far less expensive compared to those kinds of large franchise businesses. However, franchisees can still experience the opportunity which allows them to start an already successful and profitable business. Simpler to Manage Another reason why these types of franchise business in the Philippines had gained a lot of popularity is because of its simplicity. Compared to larger franchise businesses, food-cart and food-stall businesses can be easily set-up in any location. This is due to its relatively smaller size, allowing franchisees to manage it by themselves, and that the business can be easily manned by one or two personnel. Business Loans for Franchise Businesses Because of the popularity of food cart businesses in the Philippines, many loan firms had started to offer different business loans which can accommodate the needs of many Filipinos. A popular example is Ka-Negosyo by BPI which offers the most flexible business loans for franchise businesses.
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