MANILA -- The Philippine Franchise Association (PFA) expressed optimism that the franchising industry will continue to sustain its growth amid challenges being faced by the economy such as currency depreciation and increasing inflation rate.
This comes as the number of registered franchises has shown a significant increase this year.
“We saw a 250 percent increase in the registration of Franchise Asia from last year. It proves that franchising flourishes during perceived or actual slowdown of the economy,” PFA President Richard Sanz said during the media launch of Franchise Asia Philippines 2018, showcasing various Philippine brands with potential to be internationally competitive.
Around 80 percent of the registered franchises came from local brands. There are currently 2,000 franchise brands in the Philippines which is the eight largest in the world according to the PFA. The local franchising sector has a network of 200,000 stores generating around 1.2 million jobs.
“The franchising sector is an outlier because what we are offering is not just a product but also business and livelihood. Given the success people want to put their money during hard times into something safe. That is why franchising is very vibrant during hard times,” according to Sanz.
The PFA hopes that the Franchise Asia exhibit will enable to create awareness of Philippine products as it aims to strengthen its presence in the ASEAN region.
The group is likewise aiming that franchises will be able to utilize modern technology such as e-commerce and digital payments to further enhance their competitiveness.
Capacity building initiatives such as seminars and workshops, mentoring on best practices and roadshows for market access will be provided to boost the development of micro, small and medium enterprises (MSMEs).
For his part, Sam Christopher Lim, PFA Director for ASEAN/Special Projects, expects around 60,000 participants for this year’s expo.
The event will be held from July 18 to 22 at the SMX Convention Center in the Mall of Asia Complex, Pasay City.
“The three-day expo provides the forum to meet face to face with brands ranging from micro to large both homegrown and international. While delegates at the two-day international conference get the chance to learn from the best minds on the latest trends and opportunities affecting the growth of their businesses,” he added.
Now on its 26th edition, Franchise Asia Philippines 2018 will feature a two-day international conference that will present global best practices and business solutions by renowned experts on July 18-19; a three-day one stop international expo of franchises and other investment opportunities from homegrown and foreign concepts on July 20-22.
Also on the calendar are, educational seminars to help aspiring franchisees invest on the right franchises and potential franchisors transform their businesses into successful franchises on July 20-22 and a two day Certified Franchise Executive Program to help professionalize the Philippine franchise sector and sustain efforts on raising global competitiveness on July 16-17 at the AIM Conference Center-Manila. (PNA)
