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When it comes to business, the perfect timing on when to open it is very important. You need to know when is the best time to open a business by considering the economic status. But most entrepreneur says that during the downfall of the global economy which most businesses are affected, the franchising slowly began to grow. Yes! That's the time when franchise is totally known to the business world and more people get into it, even in the economic crisis.
If you are wondering, "When is the best time to start a franchise business?" I may say that it is the right time to get into franchising. I read some articles saying that they see how franchise business Philippines is rapidly growing even the in global economic crisis. It is because people found franchising a great start in business and for the beginners, it is their stepping stone for a bigger business.
Before you get into franchise, you need to consider several things, such as the type of franchise (food-cart, restaurant, car, etc.), right place for your business, and when to open it. Knowing the top 5 or top 10 franchise business is a great idea. This may help you choose the best and latest franchise business. I will give you Top 3 franchise business in the Philippines together with their information.
#1 The Generic Pharmacy
Because a lot of people now a days that are having a hard time to buy their medicines, the Generic Pharmacy Franchising Corp. finds it more affordable for the people. The Generic Pharmacy products are basically imported from other country. Do not underestimate their effectiveness, because their product are mainly tested even though it sell in a low price.
After two years that the business was opened, they immediately decided to franchise it. They think that it is the best way to expand it rapidly which can be easily accessible and affordable for the people. With just a hope within them, they successfully made it. They are now have 739 franchise outlets nationwide.
The Generic Pharmacy are open for franchising. Their initial investment requirement is, P750,000 to P850,000. The estimated investment recovery period is 6 months to 1 year. If you got interested to franchise it, it is better to go directly to their main office, or call their office. Beware or the scammer. Just go directly to their office and know more details of franchising the The Generic Pharmacy.
#2 Aquabest (Water Refilling Station)
Water refilling station this year boom rapidly in the business world. Maybe because most people are now health conscious which they wanted a safe and purified water to drink. I know most of you will ask me if this is a nice franchise to have. I may say that this is a great idea for those who want a continuous franchise business. Why? Well, let's just say that without water or potable water, people can't live. Water is a basic needs of every human being. Take note: "drinkable water" must needed. So, having a safe water refilling station in the corner will help people have a safe potable water.
This simply shows how the Aquabest hooked the opportunity to make a water refilling franchise business. At first they thought that it will be a difficult or them to put a business on their own, because there are already known water refilling business. But then, they continue believing up to the top. Barely two years after it started operations, the Aquabest began franchising. They believe that offering a flexible financing scheme and reliable assistance to its franchisees, this poplar water-refilling brand makes safe drinking water profitable. They used to know their customers' feedback to get some ideas on how to improve their product or service.
Got interested franchising Aquabest, their initial investment starts from P500,000. It's not that expensive compare to other franchise business. One thing that is good about franchising Aquabest, is that, they have arrangement with financial institutions like BPI Family Savings, Planters Bank and Bank of Sterling for franchise loan, which may be helpful for those who wanted to franchise but can't easily pay for the initial investment.
#3 Waffle TIme
A Western food waffle with such fillings as hotdog and cheese is getting popular today in the Philippines. Because Filipinos loves to eat, and want a cheap foods, the Waffle Time business see it a nice way to attract customers. Over the years, the company has been doing good business serving high-quality food in an affordable package, making it one of the country's most sought-after stall franchise.
Like any other franchise business, they started franchising the business after two years. Waffle Time franchise manager, Catherine Palencia confirms confirms that they place their outlets in high foot traffic areas such as mall food courts and train stations. That shows how they attract customers easily. Because it is sell in a low price, their products are affordable to anyone.
The company screens franchise applicants using three criteria: [1] willingness to adopt and learn the company's system and policies, [2] the person's financial capacity to sustain the business and [3] the location of the proposed outlet. Waffle Time franchise requires an initial investment of about P250,000 for standard-type cart, this covers the equipment, the initial stocks, uniforms and the staff training. Like I have said in my earlier post, always come personally on their office and know more the details regarding the franchise business. This may prevent scams.
Now Is The Best Time To Start Franchising!
Yes! Now is the best time to start your franchise business. Don't worry if you don't have any experience on business. Your franchisor will provide trainings and seminar to help you with your business. As long as you and your franchisor are working together, this will be easier for you to run your business. Just do your part and cooperate with you franchisor. Remember, franchise is like a marriage, and the contact will binds you with your franchisor. So, you need two must be mutually benefiting each other. Anyhow, focus, hard work and patience are the good characteristics you need to be a good franchisee.
Source:http://yuikawaii.hubpages.com/hub/Top-5-New-Franchise-Business-in-the-Philippines
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