More Franchising Inquiries During Crisis

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.

45% Growth Seen on the Franchising Industry

The franchising frenzy is on once again in the Philippines, with the industry predicting at least a 45-percent growth this year as more Filipinos seek franchising opportunities to survive the crisis.

Armando Bartolome, president of GMB Franchise Developers and considered as Philippine franchising guru, said strong growths will be registered both in the number of existing firms that will open their business concepts to franchisees, as well as in the number of franchised outlets.

3Fs and 3Ts Show Strongest Potential for Franchising

The Philippine Franchise Association (PFA) recently conducted a free seminar dubbed "Buying the Right Franchise", zeroing in on the top franchise concepts with the strongest potential these days -- the 3 Fs (food, fashion, fun and entertainment), and the 3 Ts (transport, telecom, and tourism).

PFA president Robert Trota, acknowledging the country’s abundant natural resources as a bountiful source of franchisable concepts, said,

Franchising Firms Still Doing Brisk Business

Not content with making more money this year than last year, the association of local franchisors is working to further continue growing its members' sales next year by encouraging them to open more stores or branches. Last year, their store revenues already grew by 29 percent to P13.8 billion from P10.7 billion in 2006. This translates to a daily sale of about P37.8 million.

In a recent press briefing, the Association of Filipino Franchisers, Inc. (AFFI) said the group would target a revenue growth of another 25 percent to 30 percent for this year.