Franchising in the Philippines has remained vibrant amid the country’s recovery from the Covid-19 pandemic, with more local brands wanting to go global as foreign players set their sights on penetrating the domestic market. Know more:
FRANCHISING in the Philippines has remained vibrant amid the country’s recovery from the Covid-19 pandemic, with more local brands wanting to go global as foreign players set their sights on penetrating the domestic market, according to the Philippine Franchise Association
“We’d like to be able to sell 30 more brands to fulfill our vision of having 50 Philippine brands all over the world,” PFA Chairman Emeritus Samie Lim said of their aspiration for local brands to expand overseas in the next five years. Such growth, he said, would be driven by several factors, including the rising inflation that will lead to revenue increase, and cheaper rentals in the malls that have been vacant for a while due to the ensuing health crisis.
Apart from the food industry that has dominated the franchise space, Quintana said they want to help the retail sector as they see them having “the potential to actually expand immediately” offshore, as well as “the subsector in franchising that has been left out during the crisis,” which is the service sector, comprised not only of the spa or salons, but also the laundromat, educational, and wellness and health providers.
“There is this soft spot that is now happening. The low-lying fruit tree actually is the Asean and everybody is looking at us because Southeast Asian countries have now a vibrant young population. And so in terms of consumer market, we have that, plus it coincides with the power to purchase. So foreign brands really want to come in and bring their brands,” Quintana said.
“For European brands, we have seen a few—Spain [and] France. But we’re hoping to bring more of these brands,” he added. “Other than that, I’ve seen in the past few years a lot of Japanese brands, who have tried to get into the market; a lot of Singaporean brands; a lot of Taiwanese brands, mostly milk teas; and a lot of Thai brands as well. So these are the brands who are really excited about the growing market in the Philippines.
To date, PFA has more than 800 brand members, making the Philippines the seventh largest franchise market in the world, providing 2 million direct and indirect jobs.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
3 Gokongwei-led firms feted for good corporate governance | Roderick AbadMAJOR real-estate developer Robinsons Land Corp. (RLC) and three other companies of the Gokongwei Group have been recognized at the Golden Arrow Awards for their outstanding business practices. Organized by the Institute of Corporate Directors (ICD), the award-giving body recognizes top Philippine publicly-listed companies (PLC) in corporate governance. RLC and…
Read more »
PH franchising group eyes 12 to 15% industry growthThe Philippine Franchise Association announced that it will host the World Franchise Council and Asia Pacific Franchise Confederation meetings this year. The industry group said this aims to attrac…
Read more »
Philippines logs 261 new COVID-19 cases; active tally climbs to 9,231The Department of Health recorded 261 new COVID-19 cases on Thursday, while the active tally went up to 9,231.
Read more »
CAAP inks partnership with PUP to improve training programs, support for personnelMANILA, Philippines — The Civil Aviation Authority of the Philippines (CAAP) has signed a partnership with the Polytechnic University of the Philippines (PUP) to improve training programs
Read more »
LTFRB to implement PUV discountsMANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday said that it is already preparing to implement fare discounts for passengers of Public Utility
Read more »
LTFRB to implement PUV discountsLTFRB chair Teofilo Guadiz III said fares in traditional jeepneys would be returned to pre-pandemic levels or at P9 from the current P12 fare. The agency, however, did not give a specific target date for the implementation of the said discount. READ:
Read more »