Budding entrepreneurs are looking for additional business prospects to invest in as the country and business sector steadily recover from the economic repercussions of the two-year-long COVID-19 pandemic. This has become more apparent as enterprises have had to downsize or even close down.
As a result, a large number of people began working for themselves. Those who have found success, or who have yet to discover success, in their foray (planned or not) into entrepreneurship may want to consider franchising.
PFA president Chris Lim encouraged more ambitious entrepreneurs to participate in franchising firms at a recent Philippine Franchise Association (PFA) event in Cebu.
“We believe that franchising is about country development, and PFA is here to help build more businesses and employment.”
“You know, the franchising industry contributes more than 7.8 percent to the GDP and employs more than two million people nationwide,” he remarked during his speech at the Franchise Negosyo Para sa Cebu, which was held at the SM Seaside City Cebu. “Aside from business and profit, every franchise you assist open today means more job prospects for Filipinos of tomorrow,” he added.
He went on to say that franchise firms have a 90% success rate, especially if the prospective investor partners with a well-known and respectable franchise brand.
One of the stated respectable franchise brands, the Fruitas Group of Companies, agrees with the PFA’s claims. “Many people lost their businesses during the pandemic and would most likely be willing to start over.” “Now is an excellent time to invest in 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 risks are avoided in franchise businesses, particularly with prominent brands that Fruitas sells, because they capitalize on the franchising company’s goodwill built over time. “Becoming a part of a productive franchise family provides aspiring ‘frentrepreneurs’ or ‘franchise entrepreneurs’ with the benefit of having experienced and passionate people help them through the ins and outs of the business,” he explained.
Fruitas Group of Companies franchise concepts includes well-known names such as Balai Pandesal and Ling Nam. Fresher and more innovative brands for the franchise include Soy & Bean, Johnn Lemon, Buko Loco, Keffir Yoghurt Milk Bar, Friends Fries, and Black Pearl.
The Fruitas Group of Companies and other franchise holding companies will be present at the PFA-organized Franchise Asia PH 2022: International Franchise Expo on October 14-16, 2022 at the SMX Convention Center in Manila. Those interested in entering the exciting and lucrative world of “frentrepreneurship” may find the ideal firm to invest in 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.