The mushrooming of food retailing business franchises has been evident since the start of the decade. In this article, we will talk about the latest update on business franchises available in the market. Specifically, we will discuss about five of the most promising business franchises today — their products, how they operate, and why they are gaining popularity in the franchising scene.
The Franchising Industry
What exactly is “franchising”? Basically, it is the act of adapting the trademark, product, and business methods of a firm that has gained considerable success. For a certain fee, a franchisor agrees to lend the business model to a franchisee. In turn, the franchisee pays part of his or her earnings to the franchisor. The system is a win-win situation for both of them. For one thing, the franchisee does not have to go through a “trial and error” phase because the product is already recognized. On the other hand, instead of having to invest heavily in putting up multiple stores, the franchisor benefits from the regular fees paid by the franchisee.
Emerging Business Franchises of 2012
without a doubt, some of the more successful and popular food franchises in the Philippines are Jollibee, McDonald’s, and KFC. Aside from them, however, there are a number of food franchises that are making their mark. Among them are Binalot, Lots’A Pizza, Pizza Pedrico’s, Mang Inasal, and Waffle Time.
- Binalot. In 1996, a group of young entrepreneur sought to promote Filipino cuisine amidst a fast food market dominated by Western dishes. To do this, they decided to bring back the traditional, age-old practice of wrapping food in banana leaves. Together with some rice, salted egg, and tomatoes, classic Pinoy dishes such as adobo, tocino, and tapa, are wrapped and served in a strip of banana leaves. Of course, diners are excited to unwrap and dig in their “binalot” meal, with some even opting to eat it the traditional way, by hand! Today, the Binalot franchise consists of about 37 stores around the country.
- Lots’A Pizza. The first Lots’A Pizza store was established in 1987 by Mr. Eduardo Ngan Tian. At first, the pizza was just part of his snack food business. However, the product became an instant hit, leading Mr. Ngan Tian and Tess, his wife, to focus their energies on developing a pizza that Pinoys would love. Today, customers cannot seem to get enough of their parbaked crust pizza and special sauce. There are now 116 Lots’A Pizza branches in the Philippines.
- Pizza Pedrico’s . Another pizza franchise that is making a splash in the country these days is Pizza Pedrico’s. Having begun as part of a Jimini Pizza, a mother company, Pizza Pedrico’s officially started to franchise in the year 2005. What makes it stand out among all the other pizza stores is their “four pizzas in a box” tactic. In a single box, four kinds of pizzas are included, namely: cheese, chorizo and cheese, ham and cheese, and sausage and cheese. The idea was to come up with a pizza that catered to different people’s tastes. The customers absolutely loved the idea, and Pizza Pedrico’s continues to expand in number.
- Mang Inasal. As one of the fastest growing franchises these days, Mang Inasal has taken the country by a storm. With its trademark chicken barbecue and other classic Filipino dishes, Mang Inasal is fast becoming a favorite among Pinoy diners. The first outlet was established only in 2003, in the city of Iloilo. Today, the chain boasts of a total of 445 branches all over the Philippines. Aside from providing great food, however, the store also aims to provide jobs. It now has more than 10,000 employees across its branches.
- Waffle Time. In 1998, Waffle Time started out as a simple business enterprise in Iloilo. It began franchising in 2004, and since then, has spread rapidly all over the country. At affordable prices, the store sells waffles stuffed with a great variety of delicious fillings. This delicious and yet affordable snack has become a favorite among many Pinoys. Waffle Time continuous to grow today, with more and more outlets being established nationwide.
The practice of franchising food enterprises is now more popular than ever. What can be gleaned from the five companies featured above is their creativity and observance of what works in the Filipino context. Affordability, knowledge of the Pinoy’s taste, and ingenuity are keys to a successful business franchise.
Abigail Ang is an aspiring writer and a former Backpacker. She is into almost all types of music. she also has a passion in singing and an interest in sports particularly Ultimate (Frisbee) and running. Abigail is currently taking care of her 2 daughters Shiela and Ria. Abigail on Twitter.