Overseas

32
filipino globe your money
November 2006
Sign here and be your own boss
It could be as easy as that but franchising is a challenging concept that needs patience and hard work
JUANITO CONCEPCION
An increasing number of Filipinos
overseas are turning to franchised
businesses back home in the
hope that the success of those
businesses could one day provide
an alternative to the income they
are earning abroad.
A franchised business is an
ideal entry point for aspiring
entrepreneurs among overseas
Filipinos, especially because
they often do not have the time,
the means and energy to conduct
proper research on a prospective
business.
Simply put, franchising is
duplicating a successful business.
“Between starting a business
from zero and going into a
franchised business which already
has a track record for making profit
and running well, it is obvious that
returning overseas Filipinos face
much lesser risks and have greater
prospects of success if they will go
into franchising,” said Tess Ngan
Tian, immediate past president
and chairman of the Association of
Filipino Franchisers Inc (AFFI).
Citing the Lots a Pizza franchise
that her company is offering, she
said investors can fully recover
their investment over a relatively
short period of time, depending on
location and other factors.
“We have three former OFWs, all
seamen, who set up Lots a Pizza
franchises in different parts of
Metro Manila and they recovered
their investments within six months
to 1-1/2 years,” she said.
She said the minimum investment
for a Lots a Pizza cart-type
franchised business is P350,000 in
a package which includes setting
up of the cart, equipment and
training. A kiosk package costs
P550,000 while a dine-in package
costs P750,000.
AFFI president Ricky Cuna
said more and more Filipinos are
going into different franchised
businesses. “We have 65 member
franchisers and people who want to
have a franchised business can do
so for as low as P150,000,” he said.
“About 60 per cent of the
franchised businesses being offered
by our members are engaged in
food while the rest is engaged in
different types of services,” he
added.
Ngan Tian said the prospects are
bright for the franchising industry
in the Philippines. “Nowadays,
most people recognise and
understand the merits of going into
a franchised business unlike in the
past when not so many people were
talking about it,” she said.
“It is much easier for an aspiring
entrepreneur to assess his or
her prospects of success after
observing the operations of the
different branches of a particular
franchiser that he or she is
interested in,” she said.
“He or she won’t have the benefit
of this study if he or she were to
start a business from scratch.”
Rudolf Kotik, president of
RK Franchise Consultancy, cited
the major merits of franchised
businesses.
“By buying a franchise, you get a
proven profitable business system,
assistance in selecting the location
and setting up the business, training
and other help before and after
opening the business,” he said.
“You avoid totally the trialand-error
stage which you will
likely experience if you set up an
independent business and you start
from scratch.”
S
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