Business Franchising, A Promising Trend

PIA Daily News:

A lot of investors in the province have ventured into business franchising and it’s a promising trend for local entrepreneurs said Engr. Wilhelm Malones, Provincial Director, DTI.

President Gloria Macapagal Arroyo recently presented the Franchise Excellence Award 2006 to local and foreign franchisers who have been recognized for their outstanding contributions to the growth and development of small and medium enterprises in the country.

Leading the awardees are Pancake House and Julie’s Bakeshop – Outstanding Filipino Franchise/Hall of Fame, Waffle Time – Most Promising Filipino Franchise, Philippine Seven Corporation – International Master Franchise, Reyes Hair International and SeaOil Philippines Inc. – Outstanding Filipino Franchise and Max’s Restaurant and Julie’s Bakeshop- Franchisee of the Year.

Some of the most promising business franchise in Antique are food products particularly bread and pastries, water refilling stations, telecommunications/internet cafes, office and school supplies, gasoline stations and other products like electrical and construction materials, said Malones.

Despite the need for much bigger capital compared to starting up a business, franchisees are assured of marketing support and quality of products of franchise owners. Franchise contract strictly stipulates quality product standard as provided for by the Department of Trade and Industry. Track record of success or franchise owners is another edge in business franchising, the source said.

Business franchising also provides employment for number of Antiqueños in terms of labor and management and lesser cost to some products since raw materials are purchase bulk.

DTI reported that there are over 900 franchisers in the country who have become a tool for national development and sustainable economic growth and providing millions of jobs to Filipinos.