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Franchising became a popular trend in the Philippines because of its many new opportunities, such as the opportunity of its affordability. According to the PFA or the Philippine Franchise Association, the franchise industry of the country had become stronger as years go by. And this is particularly because of a new franchise business that gave the same opportunity that many wealthier Filipinos have had with franchising, success.
Lesser Expensive Franchise Businesses Popular franchise business in the Philippines today includes small businesses, including food-cart and food-stall businesses. Compared to large franchise businesses which were the only types of franchise businesses available in the past, food-cart and food-stall businesses were far less expensive, which made it possible for the majority of Filipinos to afford acquiring a franchise business.
But other than its lesser expensive franchise, food-cart and food-stall businesses are also known for its simplicity which made it easier for its franchisees to run these kinds of businesses rather than starting their own small business. This is because franchisees wouldn’t have to give too much effort in marketing their business, which is unlike that of starting a business from scratch.
Simplicity of Franchise Businesses Another reason why food-cart and food-stall franchise businesses had gained a lot of popularity in the Philippines is because of its simplicity in terms of management and maintenance.
Compared to larger franchise businesses, such as a fast-food restaurant, a food-cart franchise business Philippines can be easily placed from spot to the other, without the need of construction. In addition to that, these businesses can also be easily managed with one or two personnel.
As for the requirements, franchise businesses usually doesn’t require any supporting credentials unlike larger franchise businesses which would usually require their franchisees to have at least worked in a managerial position for more than 2 years or have acquired an MBA.
Success of the Franchise Industry Because of its affordability and simplicity, along with the prospect of profitability, franchising businesses became a popular trend in the Philippines, which led to the success of the industry.
But other than the success of the industry itself, franchising had also contributed to the economic growth of the Philippines, particularly with unemployment. The popularity of food-cart and food-stall businesses in the Philippines had generated thousands of jobs for the unemployed, particularly for the out-of-school youths of the Philippines.
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