For years since the early 80’s, the economic outlook in the Philippines was rather gloomy. Most players in the industry are thinking over many times before deciding on investing or upgrading their investments. The worsening scenario in the business sector brought about by inflation, unemployment and unstable political policies scare the international investors. Yet, the far and overlooked side of it was that, the more difficult the situation, the more aggressive the people becomes to innovate and come up with better ideas to survive. This is where creativeness, resourcefulness, assertiveness and perseverance are expressed in everyday business activities. In this part of the world, every inch of an opportunity was very important and cannot be neglected.
The response of the public to go on their own after a tragic lay-off from jobs or the struggle of a simple housewife to help earn for the family had help the economy by putting up small scale businesses providing employment. But this initiative is vulnerable to the strong pressure brought about by competition and monopoly of big players. It was sad that the survival of these small entities was rough, often forced them to close.
The realization of coming up together would be the best option to play against the bigger and more powerful companies in the very competitive environment. The “do or die” approach is needed for survival of small entrepreneurs and the struggle of small businesses to group in order to have better position in the market. Even bigger companies merge to survive the economic crisis that recently hit most part of the world’s economy. Thus, franchising is one of the best option and in fact, the fastest growing industry in the Philippines.
Obviously, referring to Franchising is synonymous with the successful and very popular franchise of Fast Food companies that are leading the industry. Let’s put it simple, their marketing strategies and its connection to the large part of the population is the reason for this success. They hold a certain “spell” that binds the public into one common jingle. Offering the best value (as it looks) to the market of starving income is most appealing during this time.
The Franchising mode is on beat. You can find franchises of any kind. Of course, you have to keep in mind that the success or failure of your business depends on the factors that you should carefully select and study before considering it. You must know how much time you are willing to invest in your franchise. It often requires the knowledge of the process and dedication to improve. The more knowledgeable you are in your chosen franchise would give you an edge to succeed in your chosen business.
