Franchising ventures expanded by BPI Family Ka-Negosyo Expo 2012
May 9, 2012 10:01 pm
By Allan N. Cordovero
MANILA, May 9 — Starting a business nowadays is not easy without experience and a capital to work on.
This is where franchising comes in with the help of some firms and financial institutions who are willing to give loans to entrepreneurs .
Amidst strong business competitions, many micro, small and medium entrepreneurs (MSMEs) find the potential of franchising in the market — a venture where one can use an existing good business model which would likely get loan approval from a leading financial institution.
A fine example is the Bank of the Philippine Islands (BPI) Family Savings Bank Ka-Negosyo Expo 2012 recently held at Elements at Centris, Quezon City, where John Paul Dizon, Julies Bakeshop franchise activation specialist, said: Any time we have franchise applicants, we refer them to Ka-Negosyo to have business loans for a start.
BPI Family Savings Bank president Jose Teodoro Limcaoco said that Through the Ka-Negosyo Expo, we encourage more and more Filipinos to take advantage of the business opportunities we and our Best List franchise brands offer and be able to contribute growth not just to the franchising industry but to the countrys economy as well."
Limcaoco further explained that Ka-Negosyo aims to grow the franchising sector in the Philippines. Through the Ka-Negosyo program, BPI Family widens business opportunities for MSEMs.
"At BPI Family Savings Bank, we value our partners. With BPI Family Ka-Negosyo program, we give them the best deals for their investments and make business easy for them," he added.
As part of BPI Family Ka-Negosyo program, Ka-Negosyo Expo introduced 11 of its Ka-Negosyo Best List Franchise Brands which are Aquabest, Generika, Bodega Site, Fruitas, Hungry Juan, Lydias Lechon, Razons, Julies, PR Gaz, Ministop, and Phoenix Petroleum.
With the banks Best List, reaching out to entrepreneurs would be easier as they would be guided to the best-recommended, the most established, profitable, and franchisee-friendly brands in the country.
Likewise, Dizon said the Expo , is an advantage for Julies Bakeshop as it creates public awareness of the corporations being open for for franchising. It has more than 500 branches nationwide which cater some 300 variety of breads.
On the other hand, Fruitas Group of Companies sees the event as a venue to strengthen their franchise.
We want our franchisees to earn more profit. If ever they have problems in managing their business, we help them. So, we make them as our business partners, Diana Tiu Chan, Fruitas executive assistant to the CEO, said.
With the companys more than 400 stores nationwide, Chan said that their brands have undergone approval to become accessible for BPI clients.
What is a good franchise? The Small Biz Viewpoints, an internet blog site, defines it as a growing business. It has a good concept that can run its operations smoothly and can further the route it takes to reach success.
Its potential in the market has actually adds value to its guaranteed growth.
In a franchising business, the owner or franchisor of a product, service or method obtains distribution through affiliated dealers or franchisees.
The contractual relationship involve in this model let the franchisor guide the franchisee, in exchange for a fee.
When it comes to its products and services, the franchisor must ensure that all these undergo innovations. Doing such let the business builds a good foundation and attract more consumers.
Undeniably, sometimes when someone guides you it is hard to prevent being bombarded with lots of rules and regulations to follow.
With such things set ahead, a franchisee may be bound with unnecessary expectations. A franchisor, then, should avoid it to reduce much burden to his/her dealers and put emphasis on easy ways to operate the store.
When it comes to franchise investment cost, franchisee applicants should consider the companys fees and the construction cost which depends on the location.
Most likely, a balanced growth between the franchisor and the franchisee could be attained if both consider each others sake.
Towards that end, they should be a good team so that their franchise business would stay ahead amidst strong push and pulls in the field of business competition. (PNA)