Lay Bare, a Makati-based waxing salon, is becoming a familiar sight these days. Since it set up shop in 2006, it has sprouted 24 branches across the country, more than half of which are not owned by its founder.
Just as ubiquitous is Lay Bare’s business model of choice: franchising, a method that allows a venture to use its name, brand and operations manual to sell the same set of services.
The setup, which a number of burgeoning local companies have begun to adopt, is attractive to startup entrepreneurs, who see it as a foolproof means of duplicating a successful business. Read more.
