MANILA, Sept 16 (PNA) — The Association of Filipino Franchisers Inc, (AFFI) has seen the franchise industry to sustain its growth for the next few years.
AFFI Chairman of the Board Armando Bartolome, during the press launch of 14th Franchise and Business Expo on Tuesday, said the group is optimistic that the local franchise sector will achieve at least 15 to 20 percent revenue growth with the robust economic condition in the country and more overseas Filipinos tapping franchising businesses.
Currently, AFFI’s economic contribution reached PhP94 billion from its 164 members with 31,239 franchising stores.
This increased from last year’s figure of PhP54 billion worth of revenues from 16,093 outlets of franchising member-companies.
In terms of employment, AFFI created 197,000 jobs as of this year, more than double from last year’s employment figure of 96,000.
To further expand its foothold, AFFI will be holding this year’s Franchise and Business Expo from October 2 to 4 at the World Trade Center in Pasay City.
The expo, with the theme of “Empowering Entrepreneurs”, will bring over 300 exhibitors from a wide range of business concepts and brands, both locally and from ASEAN.
“With the on-going ASEAN integration, more and more foreign brands will be entering the country. Therefore, it is necessary for us to properly arm our local businesses so as to improve their chances of success despite heavy competition. This is why the expo and AFFI itself have concentrated on the goal of empowerment,” AFFI Expo’s Head Ricardo Cuna noted on the other hand.
Cuna added that aside from foreign brands coming into the local market, there are foreign companies looking at brining Philippine franchise brands at the global market. (PNA)