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Franchising for dummies

I am a wide reader, I can finish a 400-page novel in one to two sitting, about 2-3 hours only.

Image by Alterio Felines from

Image by Alterio Felines from

Franchising for newbies

One of the debatable offenders is from the rise of big-box marketing, increasing occupational licensing demand, rent-seeking by current firms, and numerous other hypotheses. The number of foreign brands is continuing to grow in the Philippines’ consumer food service, as local companies perceive that the establish of an international brand is plan of action compared to creating a home-grown brand. Likewise, Filipinos have a high respect for foreign brands due to the lawfulness they provide when it comes to the food they offer.

Chained consumer food service brands are continuing to enjoy supremacy over independent outlets. These brands have been present in consumer food service for a long time and been established a good reputation among local customers. As a result, most independent players, find it difficult to compete.

The number of foreign brands is continuing to grow in the Philippines’ consumer food service. As local companies perceive that the launch of an international brand is strategic compared to creating a home-grown brand. Moreover, Filipinos have a high respect for foreign brands due to the genuineness they provide when it comes to the food they offer.

The autonomous players were growth slower as per registered in 2015 in terms of the numbers of outlets, transactions volume and value sales compared to chained brands. Although a number of Filipinos are becoming more susceptible to new food concepts, they regard heritage, accessibility and price as important factors when choosing where to dine. Most Filipinos were dined to a fast food franchises because of good customer service satisfaction.

The ability of firms to introduce is a primary factor in gaining and sustaining competitive asset. Hence, a widely supported idea is that innovative behaviors should be highly encouraged across all levels of the organization, given that such behaviors are likely to exert a positive influence in organizational effectiveness.

Image by Alterio Felines from

Image by Alterio Felines from

Philippine Franchising

Based on close and ongoing collaboration is highly observed in franchising in which a system of marketing goods and/or services and/or technology between legally and financially separate and independent undertakings, the franchisee and its individual franchisees.

In the Philippines, Singer Sewing Machine was among the first franchise. In 1995, before the creation of the Philippine Franchising Association, the franchising was limited only to foreign business organization and public utilities services. In 2007, it eventually grew to 967 concepts from there were only 111 franchise concepts.

Today’s President and CEO of Jollibee Foods Corporation, the biggest fast food restaurant chain in the Philippines. Tony Tan Caktiong was born in a poor family from China to the Philippines in search of a better life. His parent’s became a restaurant owner.

The success of the restaurant serves him to graduate a course in Chemical Engineering in Manila. When he was 22, he visited an ice cream plant using some of his family savings, he franchised with Magnolia Dairy Ice Cream and opened two ice cream parlors. As requested by customers, he added some hot meals and sandwiches.

Putting up a big business such as beverages, telecommunication, factories and the likes is a big task especially in terms of investing a big amount of money. A good financial status is a must. So, putting up a business like them will remain a dream if no enough money in hand.

Until franchising such as fast food franchise introduces to the public for the benefit of the Small-Medium-Entrepreneur (SME) to earn a business in a competitive income for a low investment. Providing assistance in locating and building the store, developing the products or services sold, training managers, and advertising. To maintain each franchisee’s reputation, the franchisee also make sure that all outlets provide the same quality of services and products.

The traditional accent was on the efforts of an individual who goes against the odds in translating a business vision into a successful business enterprise. Franchising is an integrated concept that permeates an individual’s business in an innovative manner. It appears to offer the earliest operational of the entrepreneurial orientation concept.

Some people seem to believe that world is divided into those who know and those who are ignorant. When franchising, the way of the former is to fortune while that of the latter is to misfortune. Momentary admission to elite circle come with the right tip.

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Tip is knowledge, knowledge tip, that is all you know on earth and all you need to know.

One can be a part-owner of the different fastfood chains in the country by means of buying their franchise name and start earning. Some of them, you will earn as fast as you can depending upon the location of the franchise.

Franchise business

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2019 Luis G Asuncion

Comments

Luis G Asuncion (author) from City of San Jose Del Monte, Bulacan, Philippines on December 03, 2019:

Thanks Devika for commenting.

Devika Primić from Dubrovnik, Croatia on December 03, 2019:

Great hub in Franchising I don't have a business.

Luis G Asuncion (author) from City of San Jose Del Monte, Bulacan, Philippines on November 20, 2019:

Great to know that. I do not have franchise neither. Thanks for commenting.

Crisilda Payda on November 20, 2019:

I do not have franchise however I do have my online business

Luis G Asuncion (author) from City of San Jose Del Monte, Bulacan, Philippines on November 18, 2019:

Yes, I agree with you Mary. Thanks for commenting.

Mary Norton from Ontario, Canada on November 18, 2019:

I remembered when franchising was new in the Philippines. Everyone wanted to be in it so it grew so fast. I don't know how good they are these days. There are so many franchising their business.

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