Surging demand in the provinces for affordable small business ventures and the underlying shift of overseas Filipino workers to entrepreneurship are driving the annual 20 percent growth of the franchising industry, according to a trade group.
The Association of Filipino Franchisers inc. (AFFI) said its members’ sales reached P80.5 billion, exceeding the P70 billion for all of 2010, and there are still five months left in 2011. The group’s 110 members have 6,600 stores that claim to have created 40,000 jobs nationwide.
Association Chairman Emeritus Teresita L. Ngan Tian said there “is keen interest among overseas Filipino workers to have their business through franchising.” Ngan Tian owns the Lots’ A Pizza brand and co-owns other franchises, including Chichariffic.
From collective sales of P70 billion in 2010, the group’s members already posted year-to-date sales of P80.5 billion in 2011. The group expects a cumulative growth of 25 percent in 2012.
“Judging by the way the industry is steadily growing an annual rate of 20 percent, we might double the strength of the industry in a matter of two to three years,” Ricardo Z. Cuna, AFFI president and owner of the Fior Gelato franchise brand.
Most of association’s members — about 70 percent — are in the food business but the service business is also growing, especially beauty and wellness ventures. — ELR/VS, GMA News
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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