More and more Filipinos are turning to entrepreneurship to grow their wealth. According to the Philippine Franchise Association (PFA), the franchise industry has shown an outstanding growth—from 50 franchises in the 1990s to over a thousand today.
This growth may be brought about by the number of advantages that franchising offers. Because of a franchise’s proven method, it poses less risk than starting a business from scratch. In fact, industry statistics show that franchises have a 90%+ success rate as compared to the 25%+ success rate of individual new start-up businesses during the first year. It also promises training and support from franchisors themselves, which is perfect for budding entrepreneurs. And since good franchises are usually well-known, it’s easier to attract the right consumers.
But while franchising may seem like an ideal investment, not a lot of Filipinos can afford it. Thankfully, financial institutions are ready to help.
Franchising made easy
To make it easy for every Filipino to get a franchise, BPI Family Savings Bank offers the first and only franchising loan in the market. With the BPI Family Ka-Negosyo Franchising Loan, it’s easy to start and maintain a successful business.
- The BPI Family Ka-Negosyo Loan comes in Lite mode that lets franchisees pay only the interest for the first 6 months. Principal plus interest payments begin on the 7th month. This frees up the cashflow during the first critical months of a franchise, making it easy for entrepreneurs to handle startup costs.
- Budding or seasoned entrepreneurs are spared from the birth pains of a new business. They will benefit from the expertise of successful brands. They are also promised ample advice and support from franchisors themselves.
- With loan amounts starting at P500,000, entrepreneurs are equipped to duplicate the established business rules and high-income structure of a well-known franchise.
- It has teamed up with the Association of Filipino Franchisers, Inc. and the Philippine Franchise Association to give Ka-Negosyo clients only the best deals for their investment.
Franchising made even easier
And now, BPI is making it even easier for Filipinos to own a franchise. BPI Family Ka-Negosyo Franchising is now accepting online applications. Interested entrepreneurs may go to http://www.kanegosyo.com.ph to fill out the online form.
With the BPI Family Ka-Negosyo Franchising Loan, Filipinos now have a great new way to wealth.
* This is a sponsored post from our partner BPI Family Savings Bank. To advertise on our site, visit our Advertise page.
2 thoughts on “Franchising: a great wealth-builder”
The success of franchising as a mode of doing business and expanding market coverage is now much documented. Consequently, we should be seeing explosion of this industry and the inclusion of more type of businesses on this medium.
Congrats Chelsea. I used to be so hoping we were heading to pull it off, but unfortunately it wasn’t to be.