BusinessWorld Online:

Introduced to the country in the 1980s by foreign companies like McDonald’s, franchising now covers a wide range of business ventures — from restaurants, drugstores and Internet cafes to salons, review centers and repair shops. According to the Association of Filipino Franchisers, Inc. (AFFI), there are an estimated 50,000 franchisees in the country today.

This figure is not surprising, considering the advantages of franchising over starting one’s own business from scratch. The Department of Trade and Industry (DTI) cites franchise systems’ tried and tested concepts as one such advantage. Because franchisers have already gone through the process of trial and error to develop their products and methods of operation, franchisees need not go through the same process anymore, saving them considerable time and money.

“Franchising gives you a significantly high chance of success since these are already trusted businesses with proven concepts and operating models. You also need little experience to operate your own franchise business since these are like plug-and-play businesses that enable entrepreneurs to start their business right from day one,” said AFFI president Paulo M. Tibig. Read on…