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Franchising businesses had become a popular trend in the Philippines today, according to many business experts. Part of the reason for its popularity is because of its many benefits which can provide Filipinos a chance to start their own profitable business. This is when food-cart and food-stall businesses where introduced as a franchise business in the Philippines. Franchise Business in the Philippines Franchising had long been practiced in the Philippines even before it became popularly known across the Philippines. The reason why is because most franchise businesses in that time were large businesses, such as convenient stores and fast-food restaurant that only wealthy families, companies, and corporations, can afford. Because of this, franchise businesses were seldom recognized in the Philippines, only among those that can accommodate the cost of its franchise. However, as market changed and shifted, a number of different Franchising business Philippines were developed and introduced to accommodate today’s demands for a profitable business. This is when food-cart and food-stall businesses were introduced as a franchise business in the country. Popularity of Food-Cart Franchise Business in the Philippines Food-cart businesses had been a popular business among many average Filipinos before it became a popular franchise business. Because of its success, which was due to the Filipino’s love for food, particularly for a number of street foods, food-cart and food-stall businesses caught the eye of many franchising companies, which led them to acquire some of these businesses and reintroduce it as a popular franchise business. One reason that made these types of franchise businesses popular, according to many experts, is because of its far less expensive franchising cost compared to a convenient store or a fast-food restaurant, making it easier for average Filipino to acquire a franchise business of their own. Eventually, food-cart and food-stall franchise businesses became widespread all over the Philippines, particularly in Metro Manila, which had also led to the success of the franchise industry in the Philippines as well as the economic growth of the Philippines. Contributing to the Economic Growth of the Country The growth of the franchise industry in the Philippines had also contributed to the economic growth of the country. According to the PFA or the Philippine Franchise Association, the growth of the sector had created thousands of enterprises which in turn generated hundreds of thousands of jobs, making franchising an important tool in the country’s economic growth.
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