Seven top F&B franchises are seeking master and area franchisees in the Philippines.
International brands Mango Chili, Coca, The Belgian Waffle Co, Yan Xiang Ting, Cha Ji Tang, Bingirl, and Fidele are all seeking to establish themselves in the territory by finding competent local partners.
“The Philippines has more than 105 million people and one of the fastest growing GDPs per capita in the world,” said VF Franchise Consulting CEO Sean T Ngo. “The franchising sector in the Philippines is the largest in Southeast Asia (ASEAN) with more than 1500 franchise systems, and is expected to grow more than 10 per cent annually for the foreseeable future.”
The Philippines has become a key market for many foreign franchisers due to the fast-developing sector, a fact recognized by The Philippines government, which is seeking to nurture the industry to help sustain its seven-per-cent economic growth through to 2040.
The franchise industry contributes about 25 per cent of all retail sales in the territory and has added more than 1.5 million jobs to the economy, according to recent statistics.
“We look forward to visiting the Philippines from March 28–29 as franchisees and investors continue to be interested in new franchise opportunities,” added Ngo. “This year, we are fortunate to be able to offer some of the best franchises from the US, Taiwan, India and Thailand.”
Source: Insider Retail Asia