What is FRANCHISING ?
- Business model wherein the owner of the business (franchisor) gives the independent operator (franchisee) the right to distribute his products, implement his business techniques and use his brand.
( examples are: MCdonalds, Jollibee, KFC, Andoks, Baliwag, Mang Inasal, Ink Refill, National Bookstore, Ministop, Seven-Eleven )
Franchise Business in the Philippines
- Fast becoming one of the most popular and most effective ways to gain financial freedom and stability. A lot of young Filipino entrepreneurs are getting into this type of business more and more each day. With the 90% success rate in such businesses, who wouldn’t be interested in starting one?
- Philippines is now known as the “franchise hub of Asia”. FOODCARTS ARE THE BEST EXAMPLE.
How will you know if Franchising company Legal and Legitimate ?
- Must have a DTI accreditation
- Must have a MAIN or processing office.
- Must have its OWN FACTORY or COMMISSARY
Is this Franchising company STABLE ?
- ACCORDING TO DTI ( DEPARTMENT OF TRADE & INDUSTRY )
IF THE BUSINESS LASTS FOR 5 YEARS OR MORE, IT IS STRONG AND STABLE COMPANY.
Legal Steps of Franchising in the Philippines.
- Letter of Intent to Franchisee
- Application Form
- Site Location Proposal
- Notarized Franchise Contract
- Franchise Seminar ( Franchise Manager should explain all details to the franchisee or client )
What are the benefits in getting food cart franchise
- Low risk of investment but high in return
- Easy to operate, less hassle
- It is a food business, it is a neccessity and people will always look for it
- Easy to order or purchase food supplies to the company
Must have
- foodcart unit
- location assistance if necessary
- complete set of food equipments
- complete crew training
- franchise seminar
- insurance
Other company's franchising
- They have royalty fee or annual fee payments
- They have hidden charges
- They require payment for franchise seminar and crew training
- They have no location assistance
- Others don't own factory
- Other have no freebies
OTHER DEFINITION OF TERMS
- ROI ( RETURN OF INVESTMENT ) - in filipino ( "pagkabawi ng puhunan" )
- PROFIT - difference between the product purchase cost & selling price, in filipino it's ( "tubo")
- INVENTORY - number of stocks or product goods of your franchise
- Business model wherein the owner of the business (franchisor) gives the independent operator (franchisee) the right to distribute his products, implement his business techniques and use his brand.
( examples are: MCdonalds, Jollibee, KFC, Andoks, Baliwag, Mang Inasal, Ink Refill, National Bookstore, Ministop, Seven-Eleven )
Franchise Business in the Philippines
- Fast becoming one of the most popular and most effective ways to gain financial freedom and stability. A lot of young Filipino entrepreneurs are getting into this type of business more and more each day. With the 90% success rate in such businesses, who wouldn’t be interested in starting one?
- Philippines is now known as the “franchise hub of Asia”. FOODCARTS ARE THE BEST EXAMPLE.
How will you know if Franchising company Legal and Legitimate ?
- Must have a DTI accreditation
- Must have a MAIN or processing office.
- Must have its OWN FACTORY or COMMISSARY
Is this Franchising company STABLE ?
- ACCORDING TO DTI ( DEPARTMENT OF TRADE & INDUSTRY )
IF THE BUSINESS LASTS FOR 5 YEARS OR MORE, IT IS STRONG AND STABLE COMPANY.
Legal Steps of Franchising in the Philippines.
- Letter of Intent to Franchisee
- Application Form
- Site Location Proposal
- Notarized Franchise Contract
- Franchise Seminar ( Franchise Manager should explain all details to the franchisee or client )
What are the benefits in getting food cart franchise
- Low risk of investment but high in return
- Easy to operate, less hassle
- It is a food business, it is a neccessity and people will always look for it
- Easy to order or purchase food supplies to the company
Must have
- foodcart unit
- location assistance if necessary
- complete set of food equipments
- complete crew training
- franchise seminar
- insurance
Other company's franchising
- They have royalty fee or annual fee payments
- They have hidden charges
- They require payment for franchise seminar and crew training
- They have no location assistance
- Others don't own factory
- Other have no freebies
OTHER DEFINITION OF TERMS
- ROI ( RETURN OF INVESTMENT ) - in filipino ( "pagkabawi ng puhunan" )
- PROFIT - difference between the product purchase cost & selling price, in filipino it's ( "tubo")
- INVENTORY - number of stocks or product goods of your franchise