PTIC-Singapore and the Association of Filipino Franchisers Incorporated (AFFI) recently reached out to the business community and Overseas Filipinos in Singapore to promote investments in Filipino franchise brands.
Armando Bartolome, franchise guru and incumbent chairman of (AFFI), spoke in a Singapore Business Federation seminar to introduce Filipino franchise brands seeking foreign partners. The featured Philippine franchisers were Colonial (Sili or Chili ice cream), Fiorgelato International, Nail It! Salon, Aquasuisse Parfums, Ferino’s Bibingka (rice cake), whose success potential investors can build upon.
Mr. Bartolome shared that the Philippines has the largest roster of franchisors in ASEAN with over 900 franchise concepts operating in the country. Sixty percent of the franchises are in the food sector and 30 percent are foreign brands. Annual industry growth for new franchisors is recorded at five percent.
Franchising in the Philippines is the fastest and easiest way to expand market reach, experiencing phenomenal growth in the past decades as result of the country’s intrinsic strengths - a service oriented and well-educated English-speaking talent pool and a huge and young consumer market of 100 million. Last year, per capita GDP of the Philippines was estimated at PhP132, 147. Rising incomes and sustained remittance inflows further boost consumption spending. The country is also strategically located, making it a gateway to the 600 million ASEAN market.
Strong interest in franchising was also manifested by 236 Overseas Filipinos in a seminar hosted by The Global Filipino Investor. Mr. Bartolome and AFFI members provided tips on becoming successful franchise entrepreneurs. Mr. Bartolome and the AFFI Delegation visited Singapore at the invitation of Philippine Trade & Investment Centre (PTIC) – Singapore Commercial Counsellor Glenn Peñaranda. The PTIC represents the Philippine Department of Trade and Industry, assisting Singapore companies and Overseas Filipinos in pursuing investment opportunities in the Philippines.
According to Commercial Counsellor Peñaranda, “Introducing or joining an already strong brand is the icing to the cake. I encourage Singaporean investors to visit the Philippines and see for themselves the prospects and challenges in the market.”
Several Philippine companies have found success overseas as well such as San Miguel Corporation, Jollibee, Universal Robina Corporation, Liwayway Marketing Corporation, United Laboratories, Manila Water, Metro Pacific Group and International Container Terminal Services. Children clothing label Periwinkle recently expanded to Indonesia and Max’s Group will be bringing its Yellow Cab Pizza in Singapore.