A Philippine franchise guru is urging Negrenses to go into franchising because it holds huge prospects of financial growth.
Bing Sibal-Limjoco, Philippine Franchise Association official and Francorp Chief Executive Officer, said those who have gone into franchising have grown big including businesses coming from Negros Occidental.
During the Franchise Negosyo Para sa Bacolod, Wednesday August 29, she mentioned Felicias, Munsterric and Chefs and Bakers among local enterprises that went into franchising.
She particularly cited Potato Corner that started small but is now an international brand having branches abroad including the United States.
Potato Corner is owned by Joe Magsaysay whose wife hails from Negros Occidental.
She said there are more than 1,500 franchise brands in the country and about 32 percent is foreign and 68 percent local.
A franchise expo is scheduled August 29 to September 2 at the L’ Fisher Hotel and SM City Bacolod Activity Center which is part of the Visayas Area Business Conference.
Limjoco said the world is also investing in the Philippines because it is one of the fastest growing economies in the world and has a huge market having more than 100 million population.
She shared emerging trends in food that include rise of halal restaurants, mainstreaming of regional delicacies via franchising and fashion retailers diversifying to food businesss.
Emerging business trends in general are self-service service laundry, 24- hour Gym and house keeping services.
Other trends include health and wellness, travel and tourism related businesses, retirement- related businesses and education/tutorial services.
Limjoco said the Duterte administration will usher in the golden age of small enterprise as it focuses on strengthening support to small and medium enterprises (SMEs) and countryside development.
“The administration is tied with the ‘golden age of infrastructure’ that could spell better business infrastructures to fit the needs of different industries, she said. (JBG/Lljr-PIA6)
*this article was copied and published originally at Negros Daily Bulletin, last Aug. 31, 2018 and can also be found at http://www.ndb-online.com/august3118/franchising-business-sparks-quick-growth-says-pfa-official