|
|
 |
Franchising as Investment Option for Overseas Filipino Workers
|
|
Women members of families of Philippine diplomats and representatives of Filipino migrant workers’ networks recently joined the one-day seminar on small business franchising as possible investment option to put to productive use overseas Filipino Workers’ remittances to their families. Leading franchisors presented several successful Philippine franchises as models for business start-ups and options for small investment.
According to Philippine Overseas Employment Administration, an average of 2,900 Filipino workers leave daily for employment abroad, with majority of them land-based workers and only about 700 as seamen.
It is to be noted that 63 percent of overseas Filipino workers are women. Filipino migrant workers sent to the Philippines 12.8 billion dollars in remittances in 2006, 20 percent more than in 2005. In 2007, they remitted about 14.7 billion dollars.
|
The small business franchising seminar-workshop focused on wellness products, including herbal soaps, essential oils, beauty care products, which have great appeal to the export market. Another area of interest was food business, which has a ready local market.
The panel of presentors introduced the participants to the process of acquiring business franchise and discussed the critical stages of growing and nurturing the franchise up to its expansion stage. They also showed examples of how knowledge of foreign markets, particularly where migrant workers are staying, as useful inputs to starting a business.
Organized by WINNER-Philippines, the forum included presentations from Seven Eleven, Julie’s Bakeshop, Coffee Experience, F & B Enterprises, Daila International and institutional members of the Franchising Association of the Philippines.
Photo shows Ms. Ma. Alegria S. Limjoco, president of Franchising Association of the Philippines, presenting facts and fortunes on franchising.
|
|
|
|
3/Flr.
Department of Foreign Affairs Building, Roxas Boulevard, Pasay
City, Philippines 2330
Site search
