CAGAYAN DE ORO CITY, Philippines – Whatever the prevailing business climate is, even if it’s bad, entrepreneurs and investors must still invest and set up shop, according to franchising experts.
“Anytime is the best time to put up a business,” said Philippine Franchise Association (PFA) president Richard Sanz, during his recent visit to the city to promote franchising to prospective investors in the region.
It doesn’t matter, Sanz said, if inflation and other factors have affected the country’s economic condition, as long as there are people who are willing to invest or go into franchising, in particular.
One of the major roles that the PFA will play to boost the local franchising industry is to entice people to give franchising a try.
Recently, the PFA organized an event in a mall here dubbed “Franchise Negosyo Para sa Cagayan de Oro,” a business matching-seminar cum expo to attract potential franchisees in Northern Mindanao.
“We bring Franchise Negosyo to region to promote franchising as a tool of economic development, for generating enterprises and nation-building to as many Filipinos in the provinces,” said PFA president Richard Sanz in a press conference. Sanz is the CEO of Bibingkinitan.
Aside from inviting entrepreneurs to try franchising, Sanz said the PFA is also encouraging local brands to go global by providing them with the right tools and networks to connect to the international markets.
He also emphasized that franchising is not only for huge business operators but also for small-time entrepreneurs.
“Almost 70 percent of our [PFA] membership belongs to small and medium enterprises that we encourage to go big by way of giving them capacity-building and mentoring (programs) to have access to markets to expand,” Sanz said.
“Small is the new big,” said PFA director and Fuit Magic CEO Dr. Alan Escalona. “In the global market, making the micro, small, and medium enterprises highly competitive becomes an asset into promoting local brands to other countries.”
For his part, Sam Christopher Lim, U-Franchise president and one of the event’s resource persons, said that franchising is about replicating success and it is about time to develop local entrepreneurs not only for the national level but for the international stage. (davaotoday.com)