Biggest franchise expo rides on growth
The future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market
Daily TribuneThe future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market
At the International Franchising Expo briefing yesterday are (from left) Franchise Philippines 2023 Expo co-chairperson Richard Sanz, PFA chairperson Sherill Quintana, PFA president Chris Lim and PFA vice chairperson Bing Sibal-Limjobo. | Photograph courtesy of Franchise Asia Philippines
Franchising is expected to earn an unprecedented P30 billion by the end of the year, based on industry projections.
During the Franchise Asia Philippines 2023 International Expo briefing on Monday, Philippine Franchise Association chairperson Sherill Quintana said that franchising revenues has reached P27 billion in the year to date, already surpassing the pre-pandemic 2019 revenues of P25 billion.
With the growing local market, Quintana said global franchise brands should consider the Philippines as their "launching pad" in Asia.
"The future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market," Quintana said in a press conference in Quezon City.
In the next five years, she said her group is expecting to reap 10 to 13 percent revenues for the industry over the next five years.
PFA president Chris Lim said the exposition will be the biggest franchise show that the country hosted in the past 10 years.
Franchise Asia Philippines 2023 International Franchise Expo will run from 27 to 29 October and the meetings of the World Franchise Council and the Asia Pacific Franchise Confederation from 24 to 30 October 2023.
"More than a decade ago was the last time that a similar event was held in the Philippines, so it is really a very momentous occasion. And what a great way to really celebrate and to really show that we're back in business, that the franchise industry in the Philippines is as vibrant as ever," Lim added.
SMX Convention Center taken up
Franchise Asia Philippines 2023 overall co-chair Richard Sanz said this will be the first time for a franchise event to occupy the entire SMX Convention Center in Pasay City to showcase 1,000 local and global franchise brands from 26 countries.
Further, he said 39 percent of the expo participants are new exhibitors with new concepts such as breastfeeding center, agriculture supplies, automated retail and convenience store, vape store and kickboxing gym.
"This speaks of the vibrancy of the franchise sector with new players joining the market," he said.
Sanz mentioned that also 20 percent of the participants are international brands from Australia, China, Japan, Korea, Malaysia, Sinapore, Taiwan, Thailand and the United States.
More than 50,000 exhibitors are expected to attend the expo.
"This highlights the continued interest among Filipinos in franchising as an investment option," Sanz said.
