A GOLDMINE OF OPPORTUNITIES: Franchise Asia Philippines 2019
VOL. 1 NO. 2 MAY 2019
BY: AGNES CASTILLO | PHOTOS BY: CAROLYN PESTANO
If there is one thing that is common among Overseas Filipino Workers (OFWs), it is their constant search for a source of income that will help them in giving their families better lives.
The franchising business is one of the most attractive business options for OFWs, since they can either be hands-on with their business, or delegate tasks to people they trust, like their families back in the Philippines. Franchise Asia Philippines 2019, dubbed as "The biggest franchise show in Asia" was held at the SMX Convention Center at the Mall of Asia Complex in Pasay City. The Philippine Franchise Association (PFA) hosted the 27th edition of the event from March 27 to 31.
The event opened on Wednesday and Thursday with the International Franchise Conference, which featured 70 subject matter experts who presented or facilitated in six plenary sessions, 14 breakout sessions and 30 round table discussions. The International Conference was anchored on the theme Growing Businesses, Building Legacies, which underscores the role of franchising, not only in creating businesses, but also in ensuring their longevity.
On Friday and Saturday, The International Expo was held, where more than 700 homegrown and international brands in the food, retail and service industries among others participated. In line with the theme Be the Boss, it aims to highlight the role of franchising in realizing the entrepreneurial dreams of many Filipinos.
Learning and networking sessions were also held from Saturday to Sunday. The PFA said there are many advantages to owning a franchise. Aside from the huge profit, it also has a high success rate.
"A franchise business comes with a reduced calculated risk because it is a business model based on proven ideas and implementation," the organization said. The Philippines also tops the list of the best countries to invest in, according to the US News and World Report. Furthermore, the country has a huge market of over 100 million and is a gateway to over 600 million ASEAN markets.
The recognized brand and trademark of the franchise will also lead to ease in financing and resalability of the franchise. PFA also said there is a community of individuals who are treading through the ins and outs of franchising, so one should not be afraid of dealing with it alone. "Franchisors discover and perfect operating and management efficiencies that they pass on to their franchisees. These are designed either to help a franchisee overcome his lack of experience in running a business, or polish an acquired business sense, they said. [K]