Try to look around you. If you will notice, when you want to have a lunch with you family, you will go in a fast-restaurant. Buy some gifts for your friends on a boutique . And stop in a gasoline station to fuel your engine. Notice that those places you ar…e going to are franchise. And we must admit that franchise business became a part of your daily living now. This shows that franchising is very much intertwined with Filipino life, which was unnoticeable 15 to 20 years ago.
Filipino today finds franchising as one great tool in alleviating poverty. No doubt about it! Even businessmen admit that growing with franchising helps the economic status in our country. Franchise Philippines officially came in 1910. Even until 1990s, franchising was seen as an exclusive club for big business or multinational corporations and public utility. And so, franchising hardly boost the Philippine economy that time. Until the Philippine Franchise Association (PFA) made a move to promote the franchising in the Philippines, to somehow help in the development of the economy. Filipinos finally wake up from sleeping pattern in business industry. The franchising opens a new opportunity for new and small entrepreneurs to grow and to expand their business.
Years had past, the growing franchising really helps the Philippine economy. Unexpected growth of franchising contributes 5 percent to the country’s GDP as it creates thousands of business and millions of jobs. Several franchise concepts in food, retail and service are available. This shows that franchise Philippines inspires more entrepreneur to explore their abilities and eventually expand their business.
No doubt that franchising is now a key to alleviate poverty in the country. If only most Filipinos knew how franchising helps not only us, as entrepreneur, but also the country’s economic status.