Time is gold. This is the famous maxim that wise businessmen always keep in mind. This means that if you value your time, it will become productive. In a sense, productivity here means that by spending time, it can generate income or has a price to be paid. In whatever way that you choose with your time, the message is crystal clear: In everything, do not waste your time. This saying makes a lot of wisdom if you want to start building your own name in the world of business.
Let us put things in perspective and align things so well-defined choices can be made. If you are young, ambitious and a goal-driven individual whose end in mind is business success, then careful planning is needed to be certain that the first step you take is the right one on the right path. Bear in mind that you will be spending not only your time but almost everything that you have. So, making sound judgment based on inquiry is the key and a little of guts should also be considered.
As a start-up Filipino entrepreneur, it is assumed that in terms of experience, there is basically zero knowledge on this part. However, this is the most needed skill and one way to solve this problem is to engage in a business model that lets you skip the dreaded part of starting everything from scratch. Franchising then is the perfect business set-up for starters like you. It just requires that you have enough capital and a winning attitude to embrace the business paradigm and surely you will enjoy the journey to your success. To give you more thoughts to decide if engaging in a franchise is a good choice, below are the reasons why it is the best business for starting Filipinos.
Established Products and/or Service.
Technically speaking, buying a franchise will provide business for yourself but not by yourself. This means that you are assured that the products and services offered have undergone tedious testings’ and evaluation. Thus, quality control is not and will not be a problem. Moreover, these products have already gained widespread popularity and penetrating the market is not anymore a big concern. There is even a pre-sold customer base waiting to be tapped. The only crucial part is to look for that certain product or service that interests you and surely learning about it will just be a walk in the park.
The System is not Complicated.
Once you are certain that you would want to be a franchise. Make sure that you are armed with the attitude of openness and ingenuousness as new learning will take place.
Strong Franchise Support.
This is evident when you are literally building and setting up your own place. From looking for a possible site, designing, constructing, financing, recruitment and training of staff up to the grand opening of the store, the Franchisor will show its all-out support to you as his partner in growing the business.
Continuing Support.
This means that once you are getting your dose of the business, the franchisor will still continue to give support in terms of operational support, updates on employee training, on-going supervision and management support to assure that everything is in place. This just gives you the assurance that during the course of the venture, the 100% support of the franchise is accessible.
Loyalty to the Brand and Commitment to the Business.
There is a sense of ownership, brand loyalty and commitment that is indirectly developed if one engages in franchising. The belief on the products and its quality of service shows that integrity and reliability is in place. This in part will eventually bring purpose and meaning to your business.
Increases Chances of Business Success.
With a very good franchisor-franchisee agreement, the possibility of generating profits and successful business operation is not far. Most of all if the franchise itself is aligned with your values, beliefs and most of all your interest, the chances of business success is high. Having a helping hand that guides and directs to move the business forward will significantly create a great impact on its owners. This will not only motivate and inspire you to keep going but will bring your business to greater heights.
Opportunity for Expansion
With one successful start-up, who would not want for more? If the first venture is a complete success, replicating it is not a bad idea itself. It could even be better as you know the details of how it is from beginning to end. The thrill and excitement is already there and the motivation to make it perfect is expected. The best part is, this means more income on your part.
International Opportunities
The possibility of expansion does not also disregard the idea that the business can go international. This means that you have raised the bar and have challenged yourself with a complicated and a totally new market. In this way, you are starting to hone your business skills and established your own strength as a franchisee. Expanding the business overseas is surely the test of all tests in business. With this, slowly you are making your name in the franchising world.
The following reasons are just among the many advantages if one plans to engage in franchising. Surely, there are also disadvantages. But when making decisions, try to weigh things logically and if the pros outnumbers the cons, then it is safe to choose the former. Hence, franchising is still the best vehicle to grow as a business entity especially in the Philippines.