Making and or starting a Franchise business is one of the most successful business strategy and framework especially in the last decades in the Philippines.In a country that is fueled by domestic consumption and spending specifically on areas that are considered to be the basic needs of man, small franchise business opportunities are the most usual business platform that is being utilized.
Franchising “is the practice of using another firm's successful business model” according to Wikipedia.
This definition alone makes franchising very enticing as one is already assured of a business system has been proven to work, training, a brand and support from the main business owners. Franchising is like making chains or networks of stores.
In the Philippines, franchising is everywhere, from foods stall and carts, perfurmery, dining outlets among others.
But franchising a business is not easy. It is also doomed to fail especially if one is thinking that since he is using a proven business model, he does not need to do his own homework.
A very good way before starting out in this kind of business venture is to ask the assistance and guidance of business consultants or the Philippine Association of Franchisees.
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