After COVID, franchises were seen as a "smart" way to invest.
As the country and its economy slowly recover from the effects of the COVID-19 pandemic, young businesspeople are looking for new ways to make money. This is clearer now because many people lost their jobs when companies had to cut back or even close down.
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| After COVID, franchises were seen as a "smart" way to invest. |
Because of this, many people decided to start their own businesses. People who have tried to start their own business and succeeded or haven't yet succeeded, on purpose or not, may want to look into franchising.
During a recent event in Cebu, Chris Lim, the president of the Philippine Franchise Association (PFA), encouraged more ambitious business owners to invest in franchising businesses. "We think franchising helps a country grow, and PFA is here to help more people start businesses and get jobs. You know that franchising employs more than two million people across the country and adds more than 7.8 percent to the GDP, he said at the Franchise Business for Cebu event at SM Seaside City Cebu. Aside from money and business, he said that every franchise you help open today means that more Filipinos will have jobs in the future.
He also said that 90% of franchise businesses thrive, especially when a potential investor collaborates with a well-known and reputable franchise brand.
The PFA's claims are supported by The Fruitas Group of Companies, a well-known franchise brand. People who lost their businesses because of the disease may be ready to start new ones. Shaun Si, Chief Marketing Officer of the Fruitas Group of Companies, says that franchises are the best way to do this right now.
Lester Yu, president and CEO of the Fruitas Group of Companies talked about how franchise businesses, especially those that sell well-known brands that Fruitas distributes, have less risk because they benefit from the goodwill that the franchising organization has built up over time. When people want to become "franchise entrepreneurs" or "frentrepreneurs," he said, they can join a successful franchise family where knowledgeable and driven people will teach them the ins and outs of the business.
The Fruitas Group of Companies lets well-known brands like Ling Nam and Balai Pandesal become franchises. Some newer, more innovative businesses, like Soy & Bean, Johnn Lemon, Buko Loco, Keffir Yogurt Milk Bar, Friends Fries, and Black Pearl, also offer franchise opportunities.
The PFA will host Franchise Asia PH 2022: International Franchise Expo from October 14–16, 2022, at the SMX Convention Center in Manila. There will be people from the Fruitas Group of Companies and other companies that own franchises. Those who want to get into the exciting and profitable world of "frentrepreneurship" may find the perfect company to invest in at the event.
Find out more about the Franchise Asia PH 2022: International Franchise Expo at https://www.pfa.org.ph/event-details/franchise-asia-ph-2022-international-franchise-expo.