WHILE franchising has become a trend in the local business climate, an official of a consultancy firm is warning Filipinos against companies that offer very low franchise fees and those without credible consultants.
“It’s a must to check the credentials of the franchisor before buying a franchise,” said Rudolf Anton Kotik, president of RK Franchise Con-sultancy (RKFC).
Kotik is a senior franchise consultant with 28 years of franchise management experience.
He said prospective franchisees have to investigate companies offering franchise businesses by looking into the nature of the business, its history, the people behind it and other relevant information.
“Or take the risk of loosing your money,” he said during a press conference last Tuesday.
“Some food carts, like those offering P10,000 to P20,000, may just be a scam,” Kotik said.
While he has not heard of any franchise scams in Cebu, he said it is better to be wary than suffer the consequence.
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