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Franchising businesses had become a popular trend in the Philippines today, and the reason why, according to many business experts, is because of its lesser expensive franchise cost compared to the kinds of franchise businesses available in the past. Lesser Expensive Franchise Businesses According to many business experts, franchise business in the Philippines first became popular when small businesses such as food-cart and food-stall businesses started to sprout all over Metro Manila. Although some of these were individually owned, most of these are now franchised by its franchisees. Because of its smaller size compared to other types of franchise businesses such as fast-food restaurants and convenient stores, these types of franchise businesses can offer a far lesser expensive franchise cost, allowing more Filipinos to have the opportunity to start their own profitable business. In addition to its affordability, another advantage that made these small franchise businesses popular and in-demand in the Philippines is because of its simplicity, in terms of management and requirements. Unlike larger franchise businesses, in which only the wealthy or corporations were able to acquire, most franchise businesses today usually doesn’t require the amount of credentials that larger businesses require from their franchisees, allowing more Filipinos to acquire a franchise business even though they don’t have enough supporting experience for their business management prowess. In addition to that, these businesses can also be easily managed, that these businesses can be manned by one or two personnel, which made these types of businesses even more popular and in-demand in the market. Because of its affordability, along with its simplicity in terms of construction, management, and credentials, food-cart and food-stall franchise business Philippines had quickly spread all over Metro Manila, and across the Philippines, which led to the success of the franchise industry in the Philippine market. Success of the Franchise Industry According to the PFA or the Philippine Franchise Association, since the start of affordable franchise businesses, the industry had become stronger, from 50 franchises in the 1990’s, to over a thousand today. Because of the success of the industry, the Philippine economy had also benefited from it. Such as the fact that because of the wide-spread of franchise businesses in the Philippines, many unemployed Filipinos were given thousands of job opportunities as personnel for these businesses, which had somewhat lessen the problem of unemployment in the Philippines.
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