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Friday, March 29, 2024

Franchisers bullish, see sales of P72.9b

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The country biggest group of all-Filipino franchisers expects to expand combined sales by as much as 35 percent to P72.9 billion in 2019 from P54 billion in 2018.

The Association of Filipino Franchisers Inc. said more and more micro, small and medium enterprises were becoming aware of the benefits of franchising to expand business, said chairman Enrique Caeg.

“Our forecast of 35 percent growth is very likely to happen now that we have many small businesses who want to be part of our group and with members who are bullish for expansion, we have so much to hope for,” he said.

The group currently has 220 active members that contributed to the sales of P54 billion in 2018. Combined sales of members stood at P40 billion in 2017.

Caeg said the group aimed to promote entrepreneurship and sustaining growth to encourage more Filipinos to go into the business.

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The food and food processing sector holds the biggest share of the group’s membership profiles at 60 percent, with services coming at second.

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