THE PHILIPPINE Franchising Association (PFA) expects the industry to expand by 12-15% this year backed by new clients seeking to get into business after the pandemic.
鈥淟ast year was a bit difficult, of course. Everyone was recovering from the pandemic, but I think this year, we鈥檙e looking at about 12-15% growth in the industry because we see things opening,鈥 PFA President Chris Lim told 大象传媒 on the sidelines of a franchising event.
He said after the pandemic, many franchisees realized that franchising is the best tool to get into business to earn extra income.
鈥淪o, we鈥檙e seeing a big boom this year,鈥 he added.
Mr. Lim said the association is seeing 鈥渁 new breed of franchisees鈥 who are employees who want to have extra income, senior managers who do not want to go back to the corporate world, and entrepreneurs who want to restart.
He added that franchising 鈥渉as always been a simpler way to get into business鈥 because of the existing businesses that one just needs to learn how to operate.
鈥淏ut at the end of the day, it is still getting into business. There鈥檚 ups and downs. You have to be innovative. You have to lead your team. You have to choose the right locations. But it鈥檚 just an easier way to get into business,鈥 he said.
Among the business segments, food remains to be popular, he said, while franchises related to healthcare and pet care are seen to grow.
鈥淢aybe in the next few years, the agricultural franchises 鈥 whether it鈥檚 in the logistics or retail side 鈥 we see that growing as well,鈥 he added, noting that it may be the fastest to grow as some brands want to tap into it.
The PFA is set to host the World Franchise Council and Asia Pacific Franchise Confederation meetings this year.
鈥淥ur goal with the Philippine Franchise Association is to create 50 new market entries for our Filipino brands around the world, so we want more brands to go international,鈥 he said.
Apart from the meetings, the PFA will also be hosting the International Expo in October, which is part of the Franchise Asia Philippines 2023. It is expected to draw about 60,000 local and international visitors.
鈥淭he Philippine hosting of these meetings is a testament of the market attractiveness of the Philippines as a tourism and investment destination of the world,鈥 said Richard V. Sanz, founder, chief executive officer, and chairman of the Board of Philippine FoodAsia Corp. 鈥 Sheldeen Joy Talavera
