Off The Chain

BusinessWorld Online:

The promise of high returns and uninterrupted growth–the siren song of franchises–has served the sector well.

Studies conducted by the Philippine Franchise Association (PFA) confirm that the semi-independent business scheme lays claim to a success rate upwards of 90%. The food sector holds the most number of franchisers worldwide, claiming the lion’s share in the country at 41%.

Adopting a franchise’s tried-and-tested platform saves one the hassle of finding their footing in a harrowing business landscape. One of its best perks is instant brand-name recognition: Whereas 80% of new businesses are headed for failure within their first two years off the ground, a franchisee can afford to skip that learning curve and go straight to operating an established trademark, with all the company’s trade secrets within its reach. Full article.

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