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PFA and DTI Commited to Act vs Franchise Scams

The Philippine Franchise Association (PFA) renews its commitment to work hand-in-hand with the Department of Trade and Industry (DTI) in curbing illegal franchises that are victimizing aspiring entrepreneurs and would-be franchisees.

PFA and Wendy’s Philippines president Yvette Pardo-Orbeta underscored the importance of exemplary business ethics as an integral part of running a successful franchise enterprise. “In PFA, members are bound by the Fair Franchising Standards (FFS) which provides a framework for the implementation of best practices in their respective franchise relationships,” she noted. Orbeta explained that the FFS represents the ideals to which PFA members agree to subscribe, promoting transparency in the conduct of business between franchisor and franchisee, thereby maintaining the highest ethical standards in franchising.

“The PFA has continued its advocacy in informing, guiding, and educating new players, especially OFWs who wish to own their franchise. Unfortunately, an unscrupulous few have taken advantage of the good name of franchising for their selfish benefit,” Orbeta added.

Philippine franchising has significantly contributed to enterprise development and job creation. At present, the sector accounts for about $6 billion or about 25 percent of the country’s entire retail sales.

“The shady practices of the few should not diminish the public’s interest and trust in franchising,” said the PFA chief. “Be more diligent when looking into a franchise concept. Check the facts first before parting with your hard-earned money. It would be wise if you can consult with your lawyers and show the documents presented to you. Inquire if they are members of PFA,” she added.

To check the legitimacy of franchise operations, contact the PFA at 687-03 65 to 67 or (63917) 832-0732, email [email protected], or call DTI at telephone number 751-3330.

source: www.philstar.com

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