Being your own boss is good. That is why many people prefer to have a business rather than be an employee. Imagine, being able to control everything and having a flexible time schedule. That’s good, isn’t it? So, if you want to switch from being an employee to a business owner, then you should think about what business is perfect for you. You may consider opening a franchise business in the Philippines if you haven’t decided yet.
If you want to open a franchise business in the Philippines, this might help you.
Opening a Franchise Business in the Philippines Guidelines
Kinds of Franchise:
- Business Format Franchising – This type of franchise works by supplying independent business owners with an established business, including its name and trademark.
- Product Distribution Franchise – Manufacturers allow retailers to distribute their products and to use their names and trademarks but the manufactures control how retail stores distribute their products.
- Manufacturing Franchise – A franchiser grants a manufacturer the right to produce and sell goods using its name and trademark.
Advantage of Running a Business Franchise:
- Be your own boss
- Recieve business assistance from the franchisor
- Operating system are ready
- Brand recognition was already established
- Purchasing goods at a deep discount by buying in bulk
- Get higher profits than independently established businesses
- Lower risk
- Instant brand recognition
- Get loyal customer base
Business Franchise requirements:
- Valid IDs
- Curriculum vitae or resume
- Application Form
- Letter of Intent
- Map of Prospect Site
- Other documents that might be required:
- Bank statements
- Proof of Billing
- Business Registration Certificate
- TIN
How to Apply for a Franchise Business in the Philippines?
If you want to open a business franchise, the first thing you should do is to find what franchise is perfect for you. Once you are decided, you should contact your chosen franchise brand. You may contact the franchisor directly or check the list of franchisors from local franchise associations. Afterward, you may proceed with your applications.
READ:
Food Franchise Business Under 1 Million