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.
â€œA 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,â€ said Francis Medina, Philippines Seven Corp. business development manager.