It was 2009 when we franchised a Shawarma and Fishball/Squidball cart. I resigned from work and decided that managing a food business was more prudent than working in the corporate world.
The attempt to start a business
Since part of my work was marketing communications and research, I was confident that I could bring in my corporate experience to our business. I could use the knowledge and experience I’ve earned and learned in marketing our food cart.
In time, we found the ideal place to set up our cart, hired a person to staff it, and readied all marketing collateral and gimmicks to promote our business.
Our first few weeks of sales were impressive. We’ve got a skilled staff as well, dedicated to working hard for his family. However, at the start of our second month, there was a decrease in customers. We found out that the training center and BPO company within the building where our food cart was set up left the place. Their contract was only until last month. And we weren’t informed about it. On the contrary, the building admin even told us that new tenants are scheduled to come in the place; thus, the need to open a food court within the building to bring food choices closer to its tenants. However, the incoming offices supposedly to start within the same month backed out. We were left with few customers until our staff left us in favor of a new opportunity. We survived for a few weeks still until we decided to close the shop.
The failed business and wrong strategy
I thought my marketing communications skills and knowledge were enough to have a thriving business. All along, I thought we had the right product, the strategic location, and the committed staff. We lost money and time from that investment.
If only there were easily accessible seminars and other resources about franchising, we could have been enlightened about the tricks and trade of the business. If only I gave myself the chance to research more and hear stories about franchising successes and failures, we might have saved the business.
I take full account of our failed business. We based decisions on trust that soon we’ve realized, we should have checked first the company’s franchising system and its commitment to support business owners. Or we could have at least learned from the failures and successes of established and budding entrepreneurs.
The support group to grow the business
Which makes me grateful to know that there is a group which aims to support the growth of micro, small, and medium enterprises nationwide through franchising. I wasn’t aware of such group until just recently when I learned of the Franchise Asia Philippines.
Philippine Franchise Asociation (PFA) will be staging its 27th edition of The Franchise Asia Philippines. Dubbed as Asia’s biggest franchise event, the international conference highlights the role of franchising in sustaining growth and longevity in the business setting. The conference will feature over 70 subject matter experts not only focused on franchising but investment opportunities, business matching, and networking sessions as well. It will be from March 27 to 28, 2019.
The key to sustaining business growth
There will also be a three-day international expo from March 29 to 31 that aims to emphasize the role of franchising in realizing the entrepreneurial dreams of many Filipinos. With the theme “Be the Boss,” the three-day expo will serve as a one-stop shop of franchise and investment opportunities from home-grown and foreign concepts.
What draws me to the event is the fact that PFA has members coming from today’s most prominent businesses. I believe that by mere listening to these entrepreneurs, I will gain a better understanding of the Filipino market, know more about business planning, and how to attain and sustain a booming business.
All the more that I am interested in attending when I learned that franchising was one of the key strategies used by Max’s Restaurant to bring the brand into the new millennials. The brand has since grown to Max’s Group Inc. and is recognized as a builder of global and loved brands.
The second chance to grow business and create a legacy
Indeed, growing businesses and building legacies like that of Max’s Group Inc. is possible. We might have failed our first business venture before, but that doesn’t mean we can’t grow business again. With the help of PFA, I know we will be guided appropriately on how to start, build, and sustain our dream franchise business. I have such great trust in franchising not only to help us be financially stable but more so to help me realize my entrepreneurial dream. It is my ultimate goal to be the boss and not depend on other companies to feed my family. I would want to be a source of jobs, too, to those in need and in a way, help them provide for their own families.
As I look forward to the international conference, all the more that I am excited to finally learn how to grow our business and build a legacy – the very same theme Franchise Asia Philippines 2019 promotes.
Do you also have that burning desire to grow your business and build a legacy? See you then at the Franchise Asia Philippines 2019.
Momi Berlin Directory