Benefit of Today's Franchise Businesses

Franchise businesses had become a very popular trend in the Philippines. And many business experts have said that the reason why franchise businesses became popular is because of the many new franchising concepts which aims to offer the same opportunity that wealthy Filipinos have had with franchise businesses. Benefit of Today’s Franchise Businesses In the past, popular franchise businesses were made up of medium and large businesses such as convenient stores, fast-food restaurants, grocery stores, as well as bakeries. Because of these, most of those that can afford to own a franchise business were wealthy families or individuals, companies, and corporations.

Today, however, franchise businesses are known not for its collection of prominent businesses such as McDonald’s, Jollibee, Red Ribbon, and other popular large franchise businesses, but of smaller franchise businesses which specialize in offering some of the best collection of Filipino street foods. These are the popular food-cart franchise businesses.
The Benefit of its Affordability One reason why these small franchise businesses became popular and wide-spread all over the Philippines is because of its affordability, allowing more Filipinos to have the chance to start a business, particularly for those that have the budget but lacks the idea or concept of a profitable business.
However, compared to larger franchise businesses, these small franchise businesses tends to offer smaller profits. These, however, is enough to accommodate the needs of a simple Filipino family. Many Filipinos have even started these business as a way to increase their monthly income other than from their daily jobs.
Lesser Maintenance Efforts and Costs Unlike larger franchise businesses, particularly fast-food restaurants, which tends to require more manpower to operate, smaller franchise businesses only requires one or two manpower to operate. Its maintenance costs can also be significantly lesser particularly because it only occupies a small location compared to larger franchise businesses.
Because of this benefit, franchisees are given the opportunity to focus more on their other tasks such as their daily jobs or their other businesses, while gaining more profits for their growing needs.
Mobility Another popular reason why food cart or food stall businesses became popular is because of its mobility in which franchisees can easily move their business from one location into the other. This benefit allows them to choose which location can better serve their business. However, this only applies for those built with temporary carts or stalls. This may also require approval from the franchisor.
Business Loans for Franchise Businesses Because of the popularity of franchise businesses, many private and government offices had started to offer a new form of business loan service which aims to accommodate the need for capital for franchise businesses. Popular example is Ka Negosyo franchise and Business Loan Services by BPI.

Because of Ka Negosyo Franchise and Business Loan services, many Filipinos who lacks both the concept and the budget for starting a business were given the opportunity to start their own business through franchise businesses and through the services that business loan providers such as Ka-Negosyo had offered in the market.