New franchises seen to raise P200B in sales

MANILA — New franchise concepts are seen generating around P200 billion in sales over the next three years, particularly as more foreign brands eye the Philippines as a market.

These revenues, said Philippine Franchise Association chair emeritus Samie Lim, would come from new franchises expected to be finalized during the Franchise Asia Conference and Expo to be held later this month.

He said a large number of foreign brands, mostly food and restaurant concepts, had confirmed their attendance to the conference and expo, giving local entrepreneurs a chance to explore new franchise businesses.

“At least 100 foreign brands will be coming here for the conference and expo. From Taiwan alone, we’ll be seeing a lot of brands. The Taiwanese market is really growing and many businesses are now going into franchising,” he said.

“Malls are starting to be built in Taipei, and the foreign brands that will be coming to the Philippines will be surveying our malls to get ideas. We have a lot of malls here and just one franchise in each of those malls will be significant to those foreign brands,” he added.

He said PFA has been expecting 50,000 “quality visitors” to the event, or those who would actively inquire about franchising opportunities. These 50,000 are expected to make 100,000 serious inquiries, with one person asking about more than one franchise business.

From these 100,000 inquiries, the PFA expects 25,000 leads, half of which should materialize as actual franchises over the next three years.  /INQUIRER