Franchise businesses had become a popular trend in the Philippines, according to many business experts. The reason why is because of todays available franchise businesses which aims to offer the same opportunities that wealthier Filipinos have had with franchise businesses. This is when food-cart and food-stall Franchising business Philippines became popular in the country.
Success of Small Franchise Businesses
According to many business experts, franchising had long been practiced in the Philippines though it was only recently that type of business process became popular. The reason why is because most franchise businesses available in the past were large businesses such as convenient stores and fast-food restaurants, in which only the wealthy, as well as companies and corporations, can only afford.
Because of this, franchise businesses were only available for those who can afford one. However, this was until food-cart and food-stall businesses became popular in the Philippines, according to many experts, which had also brought success to the franchise industry of the Philippines.
So what made these small franchise businesses successful?
Inexpensive Franchise Cost
One of the many reasons why small franchise business Philippines such as food-cart and food-stall businesses became popular and in-demand in the market is because of its far lesser expensive franchise cost.
Although still expensive, in which a successful food-cart franchise business today can cost around 250,000 Philippine Pesos, this is far cheaper compared to the franchise of a large successful business such as convenient stores and fast-food restaurant.
Unlike larger businesses, which require larger commercial space and construction, most food-cart and food-stall businesses seldom require any construction, though it will still require a high foot-traffic location, though not as large as what requires of a fast-food restaurant.
In addition to its affordability, franchise businesses are also known for its simplicity in terms of requirements.
Most franchise businesses, particularly larger businesses, normally require credentials of the franchisees capability in handling a business, such as years of experience in a managerial position, or have attained an MBA.
Small franchise businesses, however, doesnt usually require such credentials, which is also the reason why it made it easier for more Filipinos to acquire a food-cart and food-stall franchise business.
Because of its affordability and simplicity, these types of franchise businesses quickly became successful in the Philippines, particularly now that food-cart and food-stall businesses had widely spread all over the Philippines.