Franchising had become a popular trend in the Philippines due to the many new franchise businesses available in the market today that can offer significantly lower franchising cost compared to what franchise businesses in the past. These kinds of popular Franchising business Philippines are food-cart and food-stall businesses.
Popularity of Food-Cart and Food-Stall Businesses
Food-cart and food-stall businesses had become wide-spread all over the Philippines today. The reason why is because of franchising businesses which had promoted these types of small businesses to average Filipinos.
The advantage that made these types of franchise businesses popular, according to many experts, is because of its affordability, making it easier for the average Filipino to start their own profitable business.
Simplicity of Food-Cart Businesses
Part of the reason that made food-cart and food-stall franchise business in the Philippines simple, other than its relatively lesser expensive franchising cost, is its requirements.
Unlike larger franchise business, such as convenient stores or restaurants, a food-cart and food-stall businesses normally requires smaller investments in terms of location and space.
The simplicity of these businesses made it easier for Filipinos to manage their own businesses, even though they lack the necessary knowledge in handling a business.
But what made these small businesses even more
Franchising can allow your business to grow at rapid pace, and gain a presence in new markets. Although there are disadvantages to franchising your business, and although it will not suit all business models, franchising is often an under-used tool among business owners that are looking to scale their operation. Following are six reasons why you should consider franchising your business.
Turbo Charge Your Business Growth
One of the greatest benefits to franchising is getting things done fast, and with less labour costs. Youll be able to focus on recruiting franchisees, and then they will focus on growing your business in their region. You can even sell franchisees for an entire country or continent, and allow the franchisee to take your business to the next level.
Reduce Gearing As You Grow
You will increase your capital base from franchising fees as your business grows. A business will traditionally borrow money, and increase their gearing as they grow into new markets. With a franchising model, youll be able to see your sales grow, your market reach grow, and youll also be able to see your balance sheet strengthening at the same time.
Prevent Equity Dilution
When you grow your business it can be tempting to give away
Motivating employees has always been key in any successful business. First and foremost, you need to understand what motivates each individual small business employee that you have. Depending on the work role, they may be motivated by some type of payed bonus, being asked to lead a new initiative, or by simply telling them, “I thought you did an incredible job.” Either way, this is the first step in understanding how to get more out of your employees; knowing their individual personalities. While implementing this important step, professional employer organizations may provide consulting and coaching on ways to do this depending on their level of outsourced HR services and expertise.
If it is money that motivates your small business employee, there are ways to use money effectively. Simply providing a raise, and one that may be outside of market pricing, may keep your employee in the short term, but studies have found that this is not a long term motivation tool. Many Peo companies can help you understand compensation by job role, and offer advice on the best way to create bonus or commission structures that are appropriate.
Small business owners can also simply ask the employee what they want, what they
Franchising is a great opportunity to take a tried business plan that has proven successful and run a business of your own on that model. Of course, there are rules that must be followed and fees that must be paid, but in the long run buying a franchise that has already established itself in the market can be a very lucrative business. However, buying a franchise can be very expensive, which limits the individuals who are actually able to afford buying a franchise in the first place. But, there are some small business opportunities in franchising that do not require huge investments. This opens the window of opportunity for many other individuals to get in on a franchise without a huge investment.
The following small business opportunities in franchising are just a sampling of what is available. Check them out and maybe you will find what you are looking for. Also keep in mind there are many other small business opportunities in franchising out there that might suit you better than the examples below. If so, start looking and you will find plenty more at FranchiseGator.com!
This small business opportunity is all about tax recovery. Taxback offers seven different ways to
Franchises: Finding the Perfect Fit
Every franchise is an opportunity but every franchise is not the right opportunity for you. A successful franchise has to be the perfect fit. The business has to suit its owners. When potential investors discover a few basic facts about franchises, they can find the most suitable business for them.
Finding the Best Franchise: 5 Fool-Proof Tips
1. Getting Acquainted
Potential investors must spend time with the franchisor. Have several conversations with the franchisor. This person knows the business (its methodologies and processes) and the franchisor has developed a winning business model. The industry knowledge, expertise, and support of a franchiser helps every business get off to the right start.
Yet getting acquainted is a two-way street. The franchisor must also gain an understanding of the investor. The franchisor needs to be aware of the franchisees position and skills.
2. Ask Questions
Ask questions about the business. An experienced entrepreneur can ask informed questions but never let lack of experience keep you from asking anything and everything about the venture. The franchisor did not know everything about the business at the beginning.
Franchisors welcome inquiries. They want every business to be a booming enterprise. Do
Franchises: Levels of Opportunity
Franchising offers franchisees a level of opportunity which is not possible in regular businesses. A start-up venture with an established brand, as well as with the support of seasoned professionals, is a tremendous advantage to a business person. Yet many do not realize that varied levels of opportunity are available within franchising. Franchisors can offer the standard franchise but there are also additional options for franchisees.
Types of Franchises
A mini-model – suitable for those with less capital
An in advance option allowing franchises to take on additional units based on future performance of the first location
A large territory option allowing an entrepreneur to become an area developer
A master licensing option in which an entire country or State is your playing field
Ideally, franchisees should enter at the most suitable level for their skills. Most franchisors will enjoy a challenge but nobody thrives in a business if they feel overwhelmed by the commitment. When you are exploring and comparing different franchises, understanding yourself is an invaluable asset.
Remember that a franchise is a long term commitment maybe five or ten years. Although in regards to franchises, commitment can be a relative term. Within the
There are many ways by which entrepreneurs get on the road to success. Some entrepreneurs choose to take advantage of franchise opportunities and from there, move on to greater glory.
There are a lot of things that can be said about franchising. For one thing, franchise opportunities let you penetrate the market with an already-established brand name. People already know the product or service so you won’t have to go through the trouble of making a name.
Of course, you have the responsibility to make a name for your business and not just the product. This means you’ll have to sell yourself. After all, people can get the product or service from other franchises, so what makes you any different? You’ll have to show them that you are different from other businesses even if your products are the same. You’ll have to do your best to convince people that getting the product from you is the best decision that they can make.
If you don’t think that taking advantage of a franchise opportunity is the thing for you, maybe you should consider starting a small, home based business.
A lot of budding entrepreneurs put up small home based businesses for different reasons. Here are