Manila Bulletin:
In today’s interconnected world, there are very few consumers untouched by the global phenomenon called franchising, which in the Philippines alone accounts for more than 1.1 million jobs in 125,000 stores, stalls and locations. These include not just fast food restaurants; also franchised are spas, beauty shops, dental and medical clinics, clothing and fashion accessories, funeral parlors and even services of midwives for far-flung barrios.
The franchise template’s phenomenal success in the Philippines has pushed the country to the top of the list, second only to the United States which is the recognized pioneer in the industry.
Philippine Franchise Association (PFA) Chairman Emeritus Samie Lim reveals that franchise sales in the country now total 5% of GDP, a figure that’s expected to double in the next few years as the concept of franchising gains acceptance in more fields of business.