Franchising has boomed recently because of its reliability and potential as an investment for aspiring entrepreneurs and OFW’s.
Compared to starting out on your own franchising has several benefits chief such as reduced risk on the part of the franchisee. Franchisors have developed a system that takes out the guesswork on how to run the business. The have also built up a brand elevating it from other businesses. These factors have helped the industry thrive with thousands of franchise stores opening every year. To get started with franchising here are tips to help you choose the right franchise for you.
1) Reputation and Brand:
This should be the top consideration for aspiring franchisees since with today’s hyper competitive market investing in a well-known brand usually boosts your chances for success. In the water refilling industry, Aquabest is considered the top brand with more than 700 stores nationwide. The company invests in high profile marketing and advertising on television or billboards to ensure that it is top of mind among consumers. At the same time it has a solid track record of industry reputation and integrity.
2) Support & Training
To learn more about a franchise make sure to schedule an appointment and visit the office of the company you’re interested in. The visit should give you an idea of the company and while there, you can check out their training facilities and documentation. This will give you a feel for the people behind the business and help determine if you can work with them. This is important because taking out a franchise will be a long term commitment.
Aquabest offers free franchise seminars to those interested in learning more about the water refilling industry. At the same time, it offers its franchisees solid training in how to run and operate a water store so its franchisees are ready to manage their businesses.
3) Financing options
Getting adequate financing is an important factor in choosing a franchise. Knowing what you can afford will be essential before beginning to look at franchises of interest. Certain banks like BPI have agreements with Aquabest to provide franchise loans that make it easier to get a franchise. Apart from bank loans the company can also offer interested interested parties discounts and other financing options.
4) Franchise Affiliation
More than a credible brand a franchisors affiliation should also be a serious consideration in choosing a franchise. Aquabest is a member of two of the country’s top franchising groups the Philippine Franchise Association and the Association of Filipino Franchisers Incorporated. As a member of these groups Aquabest practices industry best to look after the best interests of franchisees and franchisors alike.
Christian Melanie Lee is a freelance social media manager and web developer. She also devoted her time managing her food blog, and music/concert blog. One of the Hootsuite Ambassador for the Philippines since 2014 and currently working as social media manager for the local band, The Itchyworms.
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