The sprouting out of various and innumerable brands and establishments around the globe give the consumers a variety of goods to choose from. But this gives the producers and the firms the big question of innovation. Further, this becomes a threat for those new entrepreneurs who desired to invest in their own business. Truly, it has been a question of what product is not yet in the market, and what product suits the mass’ preference. Of course, this requires a tedious research and observation. But, why not dwell on what is already in there and ensure long-term consumption. In short, what is necessary, and never go out of style – food. Yes, food business is the resort; and for those who want to maximize their profits in less time, food franchising suits you best.
Franchising can be determined as local and foreign; as well as food and non-food. Food franchise grew by almost 450% from only 78 in 1995 to almost 430 systems today.
According to PFA (Philippine Franchise Association), food franchising has remained as the most sought-after type of franchising. It comprises the biggest cut in the pie. In fact, it leads with 43% share in the market followed by retail which claims 28%.
Moreover, companies has gone their way through innovation by altering and adding substance to their food products, thus this gives the franchisee a wide range of product franchises to choose from. In general, food products come in categories:
1. Fruit- this fruit products ranges from the array of fruit shakes, dried fruits, natural fruits, jams and spread. The diverse flavour and classifications of fruit by nature makes it ideal for experimentation.
2. On-stick, roll or sandwich, quick meal toppings, and balls are the next one in the row.
3. Coffee products made its way in the consumers’ diet and cater the needs of young professionals. Coffee culture has pointed out the importance and benefits that coffee does to the body.
When it comes to budget constraint, capital investment for food franchise do vary. For as low as 10,000 – 50,000 pesos, aspirants can engage in small and medium-scale type like kiosks, food stalls, and food carts. For larger scale ones such as restaurants, bar, café, purified water stations, bakeshops, fast food chains, donuts and pizza parlors may cost hundreds of thousands up to millions.
Everyone can abstain from buying that latest sports car flashing in their TV screens, from getting their hands on that hip gadget and newest mobile model, or from following that latest fashion trend, but they can never deceive their growling stomach. Plus, they can never deny their appetite of that mouth-watering recipe and snack box that your own food franchise business has to offer.
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