More Filipinos have become interested to start a business through franchising since the economic crisis started, the Philippine Franchising Association (PFA) said Thursday.
According to PFA Chairman Bing Limjoco, inquiries have doubled at the onset of the crisis, with more people attending their seminars regarding franchising.
“Franchising is good in good times, but it’s even better during the challenging times,” he said.
Franchising has become an attractive option for those who have lost their jobs and received some form of separation pay, as it usually provides less risk compared to starting a new business.
Getting a franchise, for instance, requires less capital and provides less hassle in terms of management.
“Many more have attended our seminars and they’re looking for a franchise to invest in. The success rate of franchising is 90 percent versus starting a traditional business which is 25 percent,” Limjoco said.
source: www.abs-cbnnews.com, photo from sebastienpage.com