Things to consider before franchising a business

Armando O. Bartolome
http://news.abs-cbn.com/business/01/28/17/things-to-consider-before-franchising-a-business

MANILA – For those who are thinking of franchising a business, here’s a guide to get you started.

Most entrepreneurs consider franchising because they feel this would somehow give them an edge versus starting from scratch.

• You know that any kind of business could be risky. Are you prepared to put your own money at risk? It will help you decide if you are ready for that bold move.

• As franchisees, there are rules that you need to observe. You should be amenable to the franchise agreement. Otherwise, you will get yourself in trouble.

• Do this simple math: assets – liabilities = net worth. Some franchisors may have a specific net worth requirement.

• Instead of just choosing from available franchise opportunities, consider your skills and capabilities.

• Any earnings-related questions may not be easily disclosed by your franchisor representative. Ask from current franchisees.

• Having a franchise business may have been playing in your mind for months, but be sure that you create a business plan. This will be helpful in case you apply for a loan.

BENEFITS OF FRANCHISING

Having a franchise business may give you several good points.

• Sticking with a well-known brand gives you an edge.

• The franchisor should be able to provide you with the necessary knowledge on how to get started.

• You will not worry about the equipment to be used in the business because these come with the agreed franchising fee.

• Buying supplies from the franchisor is less expensive.

• With the backing of a franchisor, it will be easier for you to get financing.

• The franchisor will provide support on marketing and advertising, though at a cost.

• If you have started your own business, your return of investment may take about between five to seven years. But with an established brand, the company’s projection is anytime between two to three years.

• Franchisors provide seminars and training for franchisees.

• Franchisees need not be burdened on coming up with new products or innovations.

• Franchisors have a team that can help provide the best locations possible.

• Just in case a franchisee decides to discontinue the business after the contract, it will be easier for the franchisee to sell it back to the franchisor.

For questions and more information, you may contact Armando “Butz” Bartolome by email: philfranchiseguru@gmail.com or on Twitter https://twitter.com/philfranguru. His website is www.gmb.com.ph

Mabusog at Manalo Christmas Raffle Promo!

Mechanics:

1. The Mabusog at Manalo Christmas Raffle Promo will run from October 5 to December 31, 2017. Deadline of submission of entries is until 7:00 pm on December 31, 2017.

2. For a minimum single receipt purchase of P300, customer will be entitled to one raffle coupon for a chance to win any of the following prizes:

1st Prize: One (1) Foldable E-Bike Forged 170 C-12 Y
2nd Prize: One (1) 32” (81.28 cm) Hisense 32D52 LED TV
3rd Prize: One (1) Oppo Smartphone A37F

Customer must fill up the raffle coupon with the following details:
· Complete Name
· Home Address
· Contact Number/s
· Email Address
· Signature
Raffle coupons must be placed in the drop box located at the counter area of each participating branch.

3. The raffle draw will be held at Binalot Fiesta Foods Inc. (BFFI) Head Office at 3686 BUJ Building, Sun
Valley Drive, Parañaque City on January 12, 2018 at 4:00 pm.

4. Participant may only win once.

5. Prizes can be transferred but are not convertible to cash.

6. Winners shall be notified by telephone and registered mail.

7. Winners have sixty (60) days from receipt of notification to claim their prizes; otherwise, prizes will be
forfeited in favor of Binalot Fiesta Foods Inc. (BFFI) with prior DTI approval.

8. Claiming of prizes will be held at Binalot – AMAIA Bicutan Branch, G/F, Aria A, AMAIA Steps Bicutan,
West Service Road corner Sun Valley Drive, Parañaque City. Winners must present two (2) valid
government-issued IDs, the registered mail from BFFI and the winning raffle coupon to claim the
prize. If a representative will claim the prize, he must present an authorization letter from the winner,
two (2) valid government- issued IDs and the registered mail from BFFI.

9. Winners authorize BFFI to publish their names, photos and other particulars determined by BFFI to
any person/s and in any mode or manner as BFFI may deem appropriate.

10.Employees and family members of Binalot Fiesta Foods, Inc., Binalot franchisees and their respective
subsidiaries

11.Winners will be announced via the Website and Facebook Page of BFFI.

BINALOT IN FOOD JUNCTION, EASTWOOD NOW OPEN! (09AUG17)

BINALOT SM LAS PIÑAS IS NOW OPEN (08AUG17)

PHILIPPINE FRANCHISE ASSOCIATION (PFA EXPO 2017)

SUMILONG SA BINALOT PAYONG PROMO

MECHANICS

  1. For a single minimum receipt purchase of P300, customer may purchase the Binalot Umbrella at a discounted price of P50.00 (Retail price of Binalot Umbrella is P150.00).
  2. The receipt can only be used once and will be stamped CLAIMED upon availing the discounted umbrella.
  3. The discounted umbrella may only be purchased at the store where the P300 purchase was made.
  4. Promo period is from August 15–September 15, 2017.
  5. Redemption is until 60 days from the end of the promo period.
  6. This offer cannot be used in conjunction with any existing promotional offers packages, corporate rates and other discounts.
  7. The senior citizen can avail of the promotional discount or the discount provided whichever is higher.
  8. This offer is not convertible to cash or gift certificate or any items.

Per DTI FTEB Permit #12185 series 2017

NOW OPEN BINALOT METRO FORA TAGAYTAY! (JULY 7, 2017)

NOW OPEN BINALOT SM JAZZ! (FEBRUARY 21, 2017)

NOW OPEN BINALOT SOUTH PARK-AYALA MALL! (JANUARY 19, 2017)

NOW OPEN BINALOT ALI MALL, CUBAO! (NOVEMBER 11, 2016)