As the country and the business sector slowly recover from the economic effects of the two-year long COVID-19 pandemic, budding entrepreneurs are looking for more business opportunities to invest in. This has been more evident as many employees got retrenched when businesses had to downsize or fully close down.
With that came a significant number of people transitioning to self-employment. Those who have found success, or have yet to find success, in their step (intentional or otherwise) into entrepreneurship may want to look in the direction of Franchising.
At a recent Philippine Franchise Association (PFA) event in Cebu, PFA president Chris Lim encouraged more aspiring entrepreneurs to invest in franchising businesses. “We believe that franchising is about nation building and PFA is here to build more businesses to help more jobs. You know the industry of franchising contributes to more than 7.8 percent to the GDP and it employs more than two million people nationwide,” he said in his speech at the Franchise Negosyo Para sa Cebu held at the SM Seaside City Cebu. “Beyond business and profit, every franchise that you help open today translates to job opportunities for more Filipinos of tomorrow,” he added.
He further noted how franchise businesses have a 90% success rate, especially if the prospective investor partners with an established and credible franchise brand.
The Fruitas Group of Companies, one of the mentioned credible franchise brands, concurs with the PFA’s claims. “There are many people who have lost their businesses during the pandemic and would likely be willing to start again. Now is the perfect time to do just that with a franchise,” said Shaun Si, Chief Marketing Officer of the Fruitas Group of Companies.
Lester Yu, President and CEO of the Fruitas Group of Companies, explained how the risks are minimized in franchise businesses, especially from famous brands that Fruitas carries, because they take advantage of the goodwill earned by the franchising company through the years. “Becoming part of a fruitful franchise family gives prospective ‘frentrepreneurs’ or ‘franchise entrepreneurs’ the advantage of having experienced and passionate people guide them through the ins-and-outs of the business,” he shared.
Franchisable concepts under the Fruitas Group of Companies include established brands such as Balai Pandesal and Ling Nam. Fresher and exciting brands such as Soy & Bean, Johnn Lemon, Buko Loco, Keffir Yoghurt Milk Bar, Friends Fries, and Black Pearl are also available for franchise.
The Fruitas Group of Companies and other franchise holding firms will be present at the Franchise Asia PH 2022: International Franchise Expo, organized by the PFA, on October 14-16, 2022 at SMX Convention Center, Manila. Those looking to step into the exciting and lucrative world of “frentrepreneurship” may find the perfect business to invest into at the event.
For more information about the Franchise Asia PH 2022: International Franchise Expo, you may visit https://www.pfa.org.ph/event-details/franchise-asia-ph-2022-international-franchise-expo.
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