Visayans urged to go franchising

Visayans who wish to go into business but are uncertain how to do it should consider franchising.

The best place to start looking for a good franchise is at the 7th Cebu Franchise Expo 2006 happening from Sep.15-17, 2006 at SM City Cebu Tradehall.

The expo is organized by RK Franchise Consultancy, bringing in over 200 business opportunities, together with the Filipino International Franchise Association (Fifa) which is an non-profit organization that helps franchisees who have problems with their franchisors.

“This expo is one way to bring franchise opportunities and franchise development services closer to the Visayas and Mindanao regions where franchising is ‘booming and growing’,” said Rudolf Kotik, president and chief operating officer of RK Franchise Consultancy.

This year’s Franchise Expo in Cebu is the largest exposition event organized by the company in the last seven years. About 70 companies from all over the country and even from abroad will be opening their businesses for franchising.

Entrepreneurs will be given the opportunity to start a business through franchise from a franchise cost of as low as P170,000 to as high as P18 million, Kotik said.

Franchising is the most successful business system in the world. It is simply a special type of licensing arrangement for the distribution of services and products.

Philippine Franchising Association (PFA) chairperson Alegria Limjoco said franchising if the easiest way to start a business as franchisees, or those who buy the license to operate and use an established business name, get the assurance that the system of operation the are implementing has been proven successful.

Jay Aldeguer, chairman of the Cebu Franchise Conference and Expo of the Cebu Business Month 2006, said franchising has become an essential tool to expand businesses.

Last year’s Franchise Expo in Cebu held in Ayala Center, sold about 75 franchises. Franchising in the Philippines accounts for 15 percent of the total retail sales, there are over 100,000 franchise businesses operating nationwide.

From 2002 to 2003, the franchise business in the Philippines is dominated by local companies which account for 56 percent of the total number of franchisors, while 44 percent are foreign companies offering franchise to Filipino entrepreneurs. (PIA)