Rudolf Kotik, founder of RK Franchise Consultancy Inc.
Filipino International Franchise Association (FIFA) announced that they will hold the 20th Cebu Franchise Expo at the SM City Cebu Trade Hall on September 27 to 29, 2019.
About 72 exhibitors are expected to join the event that will showcase business concepts ideas for the fast-growing markets in the different sectors like convenience stores, food carts, restaurants, beauty and health, and more.
According to Rudolf Kotik, founder of RK Franchise Consultancy Inc., about half of the expo has already been sold out.
The expo, said Kotik, is a great avenue for guests to learn and venture into the franchising business.
Time to franchise
With the growing mall expansion, Kotik sees this as perfect timing to venture into franchising business as more malls continue to expand in the country.
This continued expansion brings along wealth and business opportunities, said Kotik.
“Every year, malls keep on growing and this is a good development for communities which in turn brings accessibility to people and brands that weren’t there before,” said Kotik.
The growth also made the franchising business more in demand compared to previous years.
This year, the country’s franchising industry is seen to grow 25 percent. The growth is driven by the growing purchasing power and the spread of jobs outside cities and plus the continued growth to homegrown brands.
Kotik also said that franchising remains to be a promising entry business due to its 95 percent success rate compared to building a business from scratch.
Franchising is an arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications.
Kotik hopes that with the Cebu Franchise Expo, more entrepreneurs will venture into franchising and continue to develop homegrown brands as its market continues to expand.