Franchise Businesses: Then and Now

What made franchise businesses a popular business in the Philippines? According to many experts, franchise businesses first became popular in the Philippine market because of its many benefits which allowed many Filipinos to start off quickly with a well established business. Today, however, there are other reasons why franchise businesses became popular in the Philippines. And one of those is because of its affordability.



Franchise Businesses: Then and Now
Popular franchise businesses in the past are different from popular franchise businesses today. Part of the reason why is because most franchise businesses in the past are comprised of medium and large franchise businesses such as bakeries, convenient stores, Internet cafés, grocery stories, and fast-food restaurants.



Today, although these types of franchise businesses are still popular, particularly among the wealthy, many new franchise businesses have been introduced which allowed even the simple Filipino to start their own franchise business which unlike that in the past. This is when food cart or food stall businesses were introduced in the Philippine market.



According to many business experts, food cart or stall franchise businesses have become widespread all over the Philippines, particularly in high foot-traffic places such as in bus and train terminals, malls, shopping centers, wet markets, and even in the sidewalks.



One reason why these small franchise businesses had gained a lot of popularity in the Philippine market, according to many experts, is because of its affordability. Compared to fast-food restaurants and convenient stores, food stalls or cart franchise businesses are significantly cheaper, allowing more Filipinos to have the chance to start their own franchise business.



Because of its affordability as well as its simplicity compared to larger franchise businesses, food cart businesses quickly spread throughout the country. And it is because of this widespread that the franchise industry had grown even larger compared to the past.



Benefits of Business Loans
Because of the growing popularity of franchise businesses, many of the private sectors, such as banks, had started to offer business loans such as Fast cash loan Philippines which will allow Filipinos to have the means they needed to start a business, or to franchise a business. A popular example is Ka Negosyo franchise and Business Loan services by BPI which had gained a lot of popularity due to its many business loan services.