In support of sustaining the growth of the country’s franchising industry, the Philippine Consulate General in Los Angeles and the Philippine Franchising Association (PFA) held a hybrid franchising seminar entitled, “How to Invest in the Right Franchise?” on 16 June 2022 simultaneously in-person at the Consulate General Community Hall and via Zoom. The seminar was also livestreamed through the Consulate General’s official Facebook page.
In his welcome remarks, Consul General Edgar B. Badajos noted that the Philippines is considered among the world’s best destinations for franchising according to a recent survey by Edwards Global Services, a United States-based franchise think tank. He also cited that the franchising sector contributed 7.2% of the country’s overall GDP in 2019 and sustained growth even during the CoViD-19 pandemic.
ConGen Badajos added, “franchising is a way to grow one’s money through establishing a business without reinventing the wheel, or the risk of starting an innovative yet untested business model….franchising also generates employment in the Philippines, which contributes to the country’s economic recovery.”
PFA Vice Chair and Seminar guest resource speaker, Dr. Bing Sibal-Limjoco, delivered a presentation entitled, “Franchising: A Powerful Tool for Economic Development Nation-Building.” Dr. Sibal-Limjoco described the Philippine franchising industry, particularly on how companies have modified operations to adapt to the pandemic.
She also discussed the benefits of franchising and fielded questions from the community.
Trade Commissioner Eric C. Elnar facilitated the open forum, which elicited enthusiastic questions from the audience. The seminar, hosted by Deputy CG Ambrosio Brian F. Enciso III, was participated in by presidents and members of various Filipino-American Chambers based on the U.S. West Coast both in-person and virtually.