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More franchising biz seen to open outside NCR

By Kris Crismundo

March 15, 2023, 8:10 pm

<p><strong>FRANCHISE EXPANSION.</strong> Philippine Franchise Association president Chris Lim (center) answers question in a press conference at the Crowne Plaza in Quezon City on March 15, 2023. Lim sees more franchise businesses will open outside of Metro Manila in the next few years. <em>(PNA photo by Joseph Razon)</em></p>

FRANCHISE EXPANSION. Philippine Franchise Association president Chris Lim (center) answers question in a press conference at the Crowne Plaza in Quezon City on March 15, 2023. Lim sees more franchise businesses will open outside of Metro Manila in the next few years. (PNA photo by Joseph Razon)

MANILA – Philippine Franchise Association (PFA) president Chris Lim said Wednesday the majority of franchising businesses will continue open in the provinces in the succeeding years as growth has spread outside Metro Manila.

In a press conference in Quezon City, Lim said many people went back to their provinces during the peak of the pandemic, wherein some have invested their money into franchising businesses.

There were also people who stayed and found new jobs in the provinces following the pandemic, which was expected to boost consumer spending outside the National Capital Region (NCR).

“Franchising is no longer centralized in NCR because the spending power has been unlocked all over the Philippines. I think that is what franchising is all about. Let’s grow beyond NCR, (there are) so many million people here, but there are many potential(s) all over (the country),” Lim told the Philippine News Agency on the sidelines of the event.

He said the industry is also a catalyst to help the country achieve the upper middle-income status in the near term.

Lim said franchising is an “equalizer” as it provides everyone access to tested business models and trainers.

It also helped in generating local jobs, he said.

“Every time a franchise opens, (there are) new five, 10, 20, 30 jobs, and those jobs are local,” he added.

Lim said the industry now has over 200 million direct and indirect jobs.

“So franchising is a key tool for job creation and the growth of middle class,” he said.

Meanwhile, Lim said revenues of the industry are expected grow by 12 to 15 percent this year due to higher prices.

“We’ve been seeing price increases from 5 to 15 percent depending on categories, but some of that is not really enough to cover the cost increase they’ve had for the past few years,” he said.

Among the growing sub-sectors in franchising include businesses in agriculture, such as the use of drone services for seeding and healthcare, including franchise of dialysis facilities, diagnostic centers and pharmacies, among others. (PNA)

 

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