Franchising seen as important contributor in PH economy's rise

A huge and young population, which is one of the youngest in the world; a well-educated labor force with rising income; and an economy that is expected to be among the fastest in the world for decades to come. These are the factors that make the Philippines an emerging tiger economy.
And as the country’s economy continues to strengthen and grow, so too does the franchising sector, which has been in the acceleration mode ever since the founding of the Philippine Franchise Association (PFA) in 1995. Founding President and Chairman Emeritus Samie Lim foresees that the Philippine franchising sector will continue to be an important contributor to the economy particularly in the areas of business generation and job creation. He also sees that it will be a driving force in the innovations that will shape the retail sector of the Philippines.

“Because franchising allows businesses to multiply faster and increase its reach wider, franchises are able to touch base with a variety of customers and are able to get first-hand information on consumer behavior,” Mr. Lim explained. Among the trends influencing the Philippine franchising sector include the following:
  • The need for convenience
  • The premiumization of affordable products and services
  • the need to digitalize
  • The growing importance of the Millennial consumer
  • The rise of the Centennials
Mr. Lim is confident franchising will continue to serve the needs of the Filipino consumers. “We are responsive and we are innovative. That is why we – the Philippine franchising sector – also continues to be a preferred investment option for a growing number of Filipinos.”