Representatives of 14 prominent American franchises are in the country to tap prospective opportunities to partner with local firms as they explore the growing franchise market in the Philippines.
This franchise trade mission was organized by the US Embassy and the US Commercial Service, a government agency tasked with promoting business between the United States and the Philippines.
The group will be in the country Thursday and Friday to pitch business concepts to Philippine franchisees.
The American franchises included in the delegation were identified as Edible Arrangements, Jan-Pro Cleaning Systems, Panda Express, Pretzelmaker, Russo’s New York Pizzeria, Title Boxing Club, World of Beer, Great American Cookies, Marble Slab Creamery, PJ’s Coffee, RadioShack, Tilted Kilt Pub and Eatery, Tutor Doctor, and Wow Café, the US Embassy in Manila said in a statement issued Wednesday.
“Representatives of these companies will meet with prospective Philippine master franchisees on July 18 to introduce the franchise concepts and to discuss opportunities for opening the businesses in the Philippines. Successful expansion could bring exciting American products to the country,” the US Embassy said.
These companies are expected to disclose and discuss during their visit the top 200 franchises by worldwide sales, growth of large restaurant franchises, goals of the visiting franchises, among others. The Philippine Franchise Association (PFA) confirmed that although there are several new market players, 70 percent of all foreign food franchises are of US origin, indicating a market preference for US brands, the embassy further said.
The PFA earlier disclosed that some 60 foreign brands will be in the country this week to seek local partners or master franchise holders in the Philippines. The country has been deemed as one of the best destinations for overseas expansion for franchising firms.
PFA chair emeritus Samie Lim had said these foreign companies will be showcasing new concepts in food, retail and service industries at the upcoming Franchise Asia Philippines 2014, in the hopes of breaking in into the local market.
Aside from the US, these firms will come from Japan, Korea, Malaysia, Indonesia, Taiwan, Hong Kong, United Kingdom, and even from Sweden and Ukraine, among others.
Lim earlier explained that the Philippines remained to be an attractive destination for franchising, due largely to the country’s large and young population, strong domestic consumption, a robust economy, as well as its skilled, English-speaking labor force.
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