Invest in homegrown franchises, AFFI urges entrepreneurs
The Association of Filipino Franchisers Inc. (AFFI) has urged the business sector to invest in local franchises to boost the growth of micro, small and medium enterprises (MSMEs).
“We encourage Filipino businessmen to invest in homegrown franchises which have seen continuous demand abroad. Local franchisees are a major growth driver among MSMEs. There is still a huge potential for this sector to grow. Last year we had a record income of P54 billion,” said AFFI president Armando O. Bartolome.
Bartolome made his appeal on Friday at the opening of the “Galing ng Pinoy: The 12th Filipino Franchise Show,” which featured about 300 exhibitors and opened to the public various opportunities to have their own businesses via franchising.
“Franchising is a booming business. Participants to our show will have the opportunity to evaluate the best franchise options available,” Bartolome stressed.
AFFI has 112 members, 12 of which have successfully expanded abroad to Indonesia, Australia, Japan, South Africa and the United States.
Over the next few years, AFFI members are expected to expand to Singapore, China, Germany, Chile, Colombia, India and the United Kingdom.
Citing a survey conducted among US businessmen, the Philippines reportedly ranked third among countries that investors are looking at to source potential franchises, Bartolome said.
This year, AFFI members expect their total sales to grow by at least 15 percent due to aggressive expansions abroad.
Bartolome explained that this was still a conservative target as it was based on the current member count of 112 franchisors. This number may still increase within the year, he said.
Bartolome noted that more Filipinos are getting into entrepreneurship and a good number of them are gaining confidence to expand overseas.
Out of the 112 AFFI members, 12 are already global franchisors, which collectively have 76 branches in various countries.
These include Potato Corner, which has 54 outlets abroad, Figaro Coffee Company, Eat Bulaga!, Lay Bare Waxing Salon and Goto King.
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