Philippine franchises are ready to conquer new international markets says the Philippine Franchising Association (PFA).
PFA chairman emeritus Samie Lim says the local franchising industry is in its ‘seventh cycle’, meaning it is ready to export products and services to foreign markets.
This coincides with the Philippines attracting a growing number of international brands – Lim says more than 50 brands from Southeast Asia, Taiwan, Korea, US and Europe are looking for master franchisees here.
Lim said these franchisors are interested in setting up their headquarters in the Philippines as a springboard for further expansion in Southeast Asia.
“Now we are on the seventh cycle, which is to make the Philippines as the hub of franchising in Asia. We will now export our franchisors.”
Lim, who founded the PFA in 1995, said the first cycle involved the entry of food franchise while the second and third cycle were primarily focused on retail and services, respectively.
Specialties such as coffee and dessert shops also dominated the third cycle, while specialty stores for retail came during the fourth cycle of Philippine franchising. The sixth cycle centered on specialty services such as nail salons and massage centers.
Philippine companies have introduced 20 brands to the international markets through franchising, with Bench and Penshoppe two of the most popular ones, said PFA officials.
This article first appeared in our sister site, Inside Retail Philippines.