By Sam Christopher Lim
SVP for Marketing & Strategy, Francorp Philippines
After a hugely successful launch in 2015, the Philippine Franchise Association is searching once again for the 2ndNxtGen in Franchising Award.
Open to entrepreneurs 18 to 35 years old with businesses that have the potential to franchise or have been franchising for less than 3 years, the NxtGen in Franchising award seeks to recognize young entrepreneurs who have the potential to radically scale up their business through franchising. It aims to inspire and guide entrepreneurs to create businesses that scale up through franchising both in the Philippines, but internationally.
Being one of the most developed franchise markets in Asia, the Philippines enables entrepreneurs to scale up to at least 100 outlets per brand though franchising. This is in sharp contrast to Thailand, with only 32 outlets per franchise brand, and Indonesia at 80. Franchising has allowed global food chains such as Jollibee to reach over 900 branches globally and Potato Corner with over 800 branches in the Philippines and around the world. It has also allowed young entrepreneurs such as Farron Café reach over 140 branches across the Philippines. But even beyond food, it allowed generic medicine distributor Ben Liuson, penetrate the retail market and create with over 1,850 outlets of the Generics Pharmacy, 99% of it franchised.
Winners of the award will be awarded in the Franchise Asia 2016 Conference where they will get to rub shoulders with the top franchise leaders of the industry and listen to top speakers from around the world. In addition, the top winner will be given an incubation booth in the Franchise Asia 2016 Expo where over 40,000 participants gather and see the best of the franchise industry. Lastly, the winner will get free mentorship from Certified Franchise Executives to help accelerate the growth of their businesses.
6 young entrepreneurs from the 2015 awards have continued to grow their business, with 2 of them having won an international franchising contest in the US. And their advise for would-be franchisors? Hans Yao from the Paper Stone mentions that “You must first learn to love your business to effectively franchise and manage it.” While Joseph Calata from Agrirecommends franchise owners and leaders that “as the leader, it is important to have the entire organization on board (with the shift to franchise business model), from senior leaders down to the sales & operations teams.”
Interested entrepreneurs may join by sending an application form together with an executive summary of their business, plus a powerpoint presentation, print ad or video promoting their idea. Qualification hinges on marketability, originality, uniqueness and franchisability of the concepts. For more details, contact email@example.com; (+632) 687-03 65 to 67; (+632) 579-4841, (+63917) 832-0732; +63999) 883-3732 or visit http://francorp.com.ph/nxtgen.