Manila Standard Today:
Franchising is one of the popular ways to engage in business. For a set fee, the entrepreneur gets a successful business model that could yield good returns.
Franchising is a method of doing business where the buyer (franchisee) runs a business by using the system and trademark of the seller (franchisor).
According to studies, a franchised business is three times more likely to succeed as compared to one put up from square one.
Philippines Seven Corp., which holds the Philippine franchise of 7-Eleven, says that what it brings to the table is a sound franchise that is trusted and patronized by the public.
“A franchise gives the entrepreneur a higher chance of success in his venture by teaming up with a well-known franchisor as opposed to starting his business from scratch. But entrepreneurs who would want to engage in this business should do careful research to manage the risks involved,†said Francis Medina, Philippines Seven Corp. business development manager.
