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Benefits that Made the Franchise Industry Successful by Anita Gomez
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Benefits that Made the Franchise Industry Successful |
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Business
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What made the franchise industry a successful industry in the Philippines? According to many business experts, franchise businesses in the Philippines gained a lot of popularity and success in the Philippines because of its many benefits which gave Filipinos the opportunity to start their own successful and profitable business.
Benefits that made Franchise Businesses Popular The first reason that made franchise businesses popular in the Philippines is because of its affordability. Unlike franchise businesses in the past, which are mostly comprised of large franchise businesses such as restaurants and convenient stores, most franchise business Philippines today are small businesses. Popular examples are food-cart and food-stall businesses.
Because of its relatively smaller size compared to restaurants and convenient stores, food-cart and food-stall franchise business in the Philippines can offer far lesser expensive franchise cost as well as maintenance and operating costs. This made it easier for many Filipinos with enough budgets to start their own profitable business.
In addition to its affordability, franchise businesses are also known for its simplicity which made it easier for Filipinos to acquire a franchise.
Unlike larger franchise businesses which normally requires a number of credentials stating the franchisee’s capability to handle a business, usually involving years of experience in a managerial position or an MBA, small franchise businesses such as food-cart and food-stall businesses usually doesn’t require any credential from the its franchisees, making it easier for many Filipinos to own their own franchise businesses.
The Success of Franchise Businesses in the Philippines According to the PFA or the Philippine Franchise Association, the franchise industry of the Philippines because successful because of the popularity of small franchise businesses such as food-cart and food-stall businesses. This is because of its simplicity as well as its affordability compared to most business ideas.
Because of this, food-cart and food-stall businesses quickly gained a lot of popularity and demand in the Philippine market, which led to its rapid growth in the country not only across Metro Manila, but also in many places all over the country, which made franchise businesses a popular option for gaining more income other than seeking jobs with higher wages.
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franchise business Philippines, franchise business in the Philippines,
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