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Benefits of Small Franchise Businesses by Anita Gomez
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Benefits of Small Franchise Businesses |
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Business
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What made franchising businesses a popular trend in the Philippines? According to many business experts, the reason why franchising became a popular and in-demand type of business in the Philippines is because of the opportunities that these businesses gave to its franchisees. This is particularly when small franchise businesses, such as food cart and food stall businesses, had gained a lot of popularity in the Philippine market. Franchise Businesses in the Past Franchising business Philippines had long been in the Philippines. The only reason why it wasn’t as popular nor as in-demand as it is today, is because of its cost in which only the wealthy as well as companies and corporations are known to afford. However, when food cart and food stall franchise businesses were introduced as franchise business in the Philippines, franchising had become a popular trend in the Philippines, particularly among many average Filipinos. Less Expensive Franchising Cost One popular benefit that made franchising a popular trend in the Philippines is because of its affordability compared to other forms of franchising businesses. Because of its lesser expensive franchising costs compared to other popular franchises such as fast-food restaurants and convenient stores, many Filipinos were able to acquire a franchise giving Filipinos the same opportunity that wealthier ones are known to have. According to the PFA or the Philippine Franchise Association, because of these small franchise businesses and it’s lesser expensive franchising costs, the number of franchise businesses in the country had immensely grown, which had also contributed to the growth of the franchising industry of the Philippines. Simplicity Another reason that made franchise businesses popular in the Philippines is because of its simplicity which made it easier for franchisees to manage a business. Because of its relatively smaller size compared to fast-food restaurants and convenient stores, food-cart and food-stall businesses can easily be manned by one or two personnel, and that it can be easily managed even though its franchisee is busy with its other business or with their daily job. No Requirements Another reason why these small franchising businesses had gained a lot of popularity in the Philippines is because it doesn’t require its franchisees to have acquired the necessary expensive to run a business, which is a mandatory requirement in larger franchise businesses. Because of this, those that have the budget to start a business but lack the experience in handling one can have the opportunity through these small franchise businesses, particularly with food-cart and food-stall businesses.
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franchising business Philippines, franchise business in the Philippines,
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