Strong franchise growth in Philippines
The Philippines has been ranked as the eighth best market for franchise brands seeking expansions in member-states of the Asia Pacific Economic Cooperation (APEC).
The country’s franchising industry includes 1300 franchisors and 150,000 franchisees and the industry provides employment for about 1.5 million Filipinos.
According to Samie Lim, chairman emeritus of the Philippine Franchise Association (PFA), the franchising industry accounted for 30 per cent of the country’s $13 billion retail revenues in 2011.
He said that the franchise sector in Asia Pacific recognises the country’s leadership in the region and the Philippines has more CFEs (certified franchise executives) than anywhere in the world outside the US.
Franchise brands also consider Chile, the US, Japan, China, Canada, Australia, Mexico, Indonesia, Vietnam, Malaysia, South Korea and Russia as the best other markets for expansion.