PH Franchise Industry Pursues Initiatives to Sustain Growth
25 Jul 2018 - Pursuing overseas expansion, going digital and integrating the farm sector to the value chain are just some of the initiatives that the Philippine Franchise Association (PFA) is looking at these days to sustain growth of the local industry.
This was stressed by PFA chairman emeritus Samie Lim, acknowledged as the “Father of Philippine Franchising,” as he cited the association’s efforts in putting into action these initiatives so Filipino franchisers will remain competitive.
“The PFA is aware of its obligation and responsibility to help the country achieve inclusive growth,” said Lim, who’s also chairman of BLIMS Lifestyle Group and Canadian Tourism and Hospitality Institute, shared. “We have nurtured these people to become committed to the development of the franchising industry.”
A big part of the PFA’s responsibility is to continue nurturing industry players through programs that will always keep them abreast of the global developments and trends.
One these programs is the annual Franchise Asia Philippines (FAPHL), which is now on its 26th edition.
Franchise Asia Philippines 2018, Asia’s biggest 4-in-1 franchise show, will feature a two-day international conference that will present global best practices and business solutions by renowned experts on July 18 and 19; a three-day one-stop international expo of franchise and other investment opportunities from home-grown and foreign concepts from July 20 to 22; Educational seminars to help aspiring franchisees invest on the right franchise and potential franchisors transform their businesses into successful franchises from July 20 to 22; and, a two-day Certified Franchise Executive (CFE) Program to help professionalize the Philippine franchise sector and help sustain efforts in raising the global competitiveness of Philippine franchising from July 16 to 17 at the AIM Conference Center-Manila.
FAPHL is the biggest franchising event in the country and 8th largest in the world.
Lim said in the weeklong event, the PFA, the country’s pioneer and premier franchise organization, will empower franchise-industry players to maximize the benefits of globalization.
“We are expecting conservative growth of 10 percent to 15 percent this year for the franchising industry; that can contribute $18.1 billion to the economy,” Lim emphasized.
By 2020, Lim added, the local franchising industry is expected to grow by 20% growth worth $24 billion.
Lim said the local franchising industry has a robust interconnection among the local brands through its 200,000 store-networks around the country. Data showed there was a 250 percent increase in the number of franchising brands this year.
Lim stressed that franchising is a stable platform for people who want to become entrepreneurs. “Franchising is viable both in the good and the bad times.”
To maximize the benefits of globalization, Lim said Filipinos have to be more aggressive in promoting their brands initially in the ASEAN region.
Also, Lim said the PFA is exploring more synergy with the local agricultural sector to boost its growth for the benefit of the farmers. “We want farmers to integrate in the value chain of the PFA members.”
The PFA is also pursuing and developing a digital roadmap for the franchising industry. It plans an adoption of a digital-transformation strategy that already enabled some local brands to grow and expand beyond the Philippine market.
“Potato Corner and Pure Nectar are some of the local brands that have used digital technology for their businesses to expand,” he said.
Lim added that the country is also inviting international buyers to bring their brands to the Philippine market, as part of ways to encourage collaboration with local entrepreneurs.