Amidst the downside in the Philippine economy, a lot of business aspirants continue to struggle towards achieving a stable and long-term source of income aside from their own line of profession. It pays to be a hands-on capitalist, to manage your own business – to be your own boss. But, considering the closing and lay-off of huge companies and establishments, no doubt, investing becomes risky. Plus, a majority of business-minded citizens nowadays consider a low budget capital as their initial investment. But don’t lose hope for all is well; and it’s not yet too late for the usual trend in the commercial world – product franchising.
Here are the 3Ms why franchising is considered as the best friend of the Filipino entrepreneurs:
Minimum Cost, Maximum Benefit. The first question in establishing your own business is the big C, your capital. You don’t have to invest into a multi-million stocks in a company and get your share of interest at the end of the year. Many franchising operators allow an auxiliary branch of their products to be carried at a minimum capital of 20,000Php to 30,000Php. The franchising package gives the franchisee the license to use the name of the mother company. Moreover, the franchisee also purchases the operating system of the company. The bigger your budget is the more franchising ventures you can engage in.
Many to Mention. There is what we call product overload when it comes to the variety of brands and stores that allows franchising. Just by taking a walk along the mall and popular hang-out spots, an array of kiosks and food stalls can cater your growling stomach. Not just that, if you can afford bigger ones, you can engage with fast food chains, bakery and restaurants, water refilling stations, mobile and techie shops, gasoline stations, or as compelling as personal care products, and clothing line, and the hit and booming service-type, education and training franchise such as the review and call centers.
More than Meets the Eye. Being in franchising business guarantees the franchisee a supervised and aided initiative in developing the sale of the products. We are talking here of the freebies. Of course this is part of the package, and this is a big help especially to the beginners who are scared of walking blind. Some franchise contracting package includes use of trade name and logo, training, marketing and sales campaign, initial inventory, location renovation, food carts, insurance, discounts, gift checks, staff uniforms, equipment, product updates and price lists, franchise seminar, and business registration seminar. Franchisors don’t just leave their franchisee alone for it would be to the expense of their own product.
Being part of the production sector leaves the business-minded ones to the general instinct of investing minimally but not to the expense of the consumers, to guarantee long-term endeavors. Moreover, business is gamble; and the franchising industry assures you partnership with their time-tested business plan in a very competitive market.
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