With opportunities in tourism, business process outsourcing (BPO), and agriculture as possible areas of growth which the franchising sector can explore, there is so much room for growth in franchising, added Orbeta, also the president of Wendy’s Philippines.
Interest in franchising as an investment option continues to be robust. The record number of visitors in the Philippine International Franchise Conference and Expo (PIFCE) 2009, for instance, is a tangible proof: 25,000 visitors up by 12 percent in 2008.
Moreso, players in the franchise arena, traditionally dominated by professionals and retirees, now include newly graduates and OFWs.
Sustained by a growing number of Filipinos who had been made aware of looking for a more secure investment option, PFA sees a continuous increase in the number of members along with more solid business opportunities.
“Franchises that cater to BPOs have continued to perform well this year and will do so in the coming years. This includes convenience stores and quick service restaurants that are open 24 hours,” Orbeta adds.
Another very important sector that must be developed is tourism. Franchises that offer services such as health spas, beauty salons, medical/dental clinics, internet cafes, and hotels are facing good prospects, according to Orbeta.
Orbeta added that it will be good business decision to cater to ‘the bottom of the pyramid’ as what has been done in countries like India and Pakistan. “An important development is the generic drugstores and a social enterprise which franchise sari-sari stores”
Because of its strategic position, reinforced by a well-educated and English-speaking workforce, the Philippines continues to maintain its position as the franchise hub of Asia.
PIFCE is an annual event staged by the PFA. Now on its 18th year, the longest-running and biggest franchise show in the ASEAN region showcases the widest array of business opportunities, both local and foreign, for unlimited franchise investments and joint business ventures.
This year’s Franchise 2010, scheduled on July 14-18, is poised to be a precursor of the much-anticipated Franchise Asia 2011, which, aside from gathering the who’s who in the global franchise scene, will feature the twin meetings of the Asia-Pacific Franchise Confederation (APFC) and the World Franchise Council (WFC) which will be hosted by the Philippines through PFA.