n.
1. A privilege or right officially granted a person or a group by a government, especially:
a. The constitutional or statutory right to vote.
b. The establishment of a corporation's existence.
c. The granting of certain rights and powers to a corporation.
d. Legal immunity from servitude, certain burdens, or other restrictions.
2.
a. Authorization granted to someone to sell or distribute a company's goods or services in a certain area.
b. A business or group of businesses established or operated under such authorization.
c. A brand name under which a series of products is released.
3. The territory or limits within which immunity, a privilege, or a right may be exercised.
4. A professional sports team.
In recent years, franchising has become a business path of choice for many Filipinos aspiring to become entrepreneurs. Its chances of success are much better than those of stand-alone businesses. However, as industry experts would warn us, franchising is not a magic pill that when taken results in instant riches for the 'trep.
The Philippine Franchise Industry Today
90 percent Success rate of franchised businesses, compared to just 25 percent for new startups, according to PFA (Philippine Franchise Association)
10 percent growth in number of franchised outlets from 2008 to 2010.
$9.45 billion output of Philippine franchising industry in 2011 (almost P400 billion), or 30 percent of country's total retail sales output.
$12.3 billion estimated sales output of Philippines's franchising industry in 2012 (about P516 billion), at an estimated 30 percent (maximum) growth rate.
180 Number of franchise companies that are members of PFA.
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