Franchising accounts for 5% of Philippine GDP — study
Franchising accounts for 5% of Philippine GDP a study revealed that the franchising industry contributed an estimated P106.75 billion to the country’s economy translating to about 5 percent of the total gross domestic product (GDP) for the years 2005 to 2007.
Ever since franchising was introduce to the Philippines in the 80’s, franchising has experienced rapid growth, proving itself as a reliable and adaptable business model.
Today, franchising reach the masses as the food cart franchise concept proves to be a sound business idea since a lot of Filipinos are open to the idea of a business in a cart,thus foodcart business is booming.
This should help a lot of Filipino workers since food cart are affordable and easy to manage business which fit a first time business owner. This should also allow them to start a business at a low capital, meaning minimum risk!