GF Issue 54

GLOBAL FRANCHISE.COM 37 international franchising. For example, the Philippine Franchise Association (PFA) is a great place to start when seeking the best consultancy firms to work with, as are the fantastic events that take place in the region, such as the recent Expo, and Franchise Asia Philippines. The latter is among the top three largest franchise shows in the world and is the must-see show in Southeast Asia. With an average of over 50,000 visitors and 800 brands, it’s a real gathering of the who’s who of franchising in the region. The next one is 12-14 April 2024 and is well worth attending! This is a hugely exciting market, and one with immense potential for anyone looking to invest or expand. Our advice, as always, remains the same: don’t go it alone when you don’t have to! With a wealth of expertise and talent on offer in the region, success in the Philippines will always belong to those with the wisdom and foresight to tap into it from day one. as mall rentals continue to increase, eating into profitability of retailers. As a very young population Filipinos are extremely internet-savvy and are drawn to brands which can provide them with great “selfie” potential on social media. This is good news for brands which have an excellent visual presence, but what might be viewed as strong self-publishing content in your home regions may not always apply here. A significant effort needs to be made to properly understand how the local culture fits into this and how your brand can effectively interact with it. HELP FOR INVESTORS As with any plan to expand into a new region, forging links with local experts who can help you successfully navigate all these differences is a critical component to success. Fortunately, the Philippines has a large talent pool for franchising, boasting the highest number of Certified Franchise Executives outside of the U.S., and also serving as a training center for various Western brands entering the Southeast Asian Market. There are a huge number of local experts to whom new brands will certainly wish to reach out to, and several excellent bodies created to help with KEYTAKEAWAYS FROMTHE FRANCHISE ASIA EXPO INTHE PHILIPPINES: “As the seventh largest franchise market in the world, the Philippines is no longer regarded as just an interesting emerging market and is now solidly positioned as a true global leader” THE AUTHOR Farrah Rose is head of international development at The Franchising Centre (thefranchisingcentre. com) and Chris Lim is CEO at Francorp Philippines (francorp.com.ph) Dynamic franchise hub: The country stands out as a global franchise hotspot, fueled by its youthful population and an economy centered on franchising potential Post-pandemic optimism: Despite global challenges, the recent Expo showcased an unprecedented surge of positivity and energy within international franchising Demographic advantage: With 110 million inhabitants and a median age of 25, the Philippines presents a sweet spot of a workforce with substantial disposable income Maturingmarket: The Philippines now stands as the seventh largest franchisemarket globally, embracing franchising as a gateway to entrepreneurship Government support: Robust backing from the national Department of Trade and Industry, fosters a supportive environment Cultural openness and diversity: Filipinos’ exposure to global trends and diverse cultures creates a receptivemarket for foreign brands, amplifying opportunities for innovative new flavors and experiences Strategic geographical location: The country’s proximity to Southeast Asian capitals positions it as an operational hub, granting access to vast regional markets and serving as a potential training ground for expanding brands Local expertise and support: Partnering with local experts and tapping into associations like the Philippine Franchise Association (PFA) is pivotal for navigating the market’s nuances and intricacies Upcoming opportunities: Events like Franchise Asia Philippines offer invaluable networking and insights for potential investors, showcasing the vibrant franchising landscape in the region.