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By Bernie Cahiles-Magkilat
Despite the lack of government support, the domestic franchising industry thrives with an expected contribution of $ 24 billion to the local economy The president of the Philippine Franchise Association (PFA), Richard Sanz, said that this robust growth is moving closer to the industry's goal of becoming the hub of the franchise in Asia
. the Philippine Franchise Asia 2018 scheduled July 18-22 at the SMX Convention Center, event president Christopher Lim increased the number of attendees to 60,000 for the three-day event of 52,000 visitors to the Last year.
Boss ", this year's franchise event will feature a total of 700 brands, including 220 international brands from 15 countries.
Lim said the three-day event is expected to generate P3 billion in new investments within one year from transactions that should lead to the creation of kiosks, new stores and new franchises.
There are now 50 local brands that are 25.
Samie Lim, known as the father of "We are defined as a franchise center with 220 international brands converging here and making us the world's largest market after Paris," said Mr. Lim.
According to Lim, the US franchise is still the largest in the world, but 80 of its participants are also local, while China and Japan are important, but it is mainly local anchovies.
Alegria & # 39; Bing & # 39; Limjoco
Alegria & # 39; Bing & # 39; Limjoco, president of Francorp and popularly known as the "mother of Filipino franchising," said an indication that the Philippines is reaching its goal is the In fact, the country has produced the largest number of certified franchise executives now totaling 250 CFE licensees or the equivalent of an MBA.
Limjoco said that the industry has grown despite the very small support of the government.
Limjoco, who is the president of the Philippine Chamber of Commerce and Industry, said that they were now working with the government in terms of promotion abroad.
"We grew up without any government support, but since we've been working hard, our brands have been successful." Limjoco said. Last year the government partially supported their overseas involvement, which Limjoco hoped to continue.
Limjoco even noted that the failure rate was low from 4 to 10% only, the majority of the 90% having become successful. 19659004] This led to the High Lim to warn against phony franchises
The youngest Lim said that franchise investments of less than 200,000 have a 50 percent higher failure rate.
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