The franchising industry on Tuesday got a boost in its bid to achieve its P1.3- trillion revenue target by 2020 with the launch of an online platform that matches investors with franchisers.
Easy Franchise General Manager Bubbles Lim said the online platform is designed to further strengthen the franchise industry by matching potential entrepreneurs with the right business for them.
Described as the Grab and Uber of franchising, the online site is intended to streamline the selection of brand for investors.
“Easy Franchise eliminates the daunting and exhausting task of researching the legitimacy of franchises, their support features, prices and brand equity, as it puts all these in one platform,” Lim explained.
The web site allows users to check what franchise brands fits their budget and location, as well as the popular products in specific places. Currently, Easy Franchise has over 1,000 brands listed in it—all legitimately registered members of industry associations, such as the Philippine Franchise Association Inc. and Association of the Filipino Franchisers Inc.
Entrepreneur and TV personality RJ Ledesma, cofounder of Easy Franchise, said the platform is targeting to touch base with overseas Filipino workers (OFWs).
“OFWs want to invest in the Philippines, but they do not know where to get details. OFWs need a retirement plan, and that can come in the form of franchising,” Ledesma said.
With over 1,000 brands registered under Easy Franchise, the founders are looking to expand the base to up to 2,000 franchises listed with the platform before the year ends.
On top of this, Easy Franchise is targeting to arrange at least 1,000 contracts of franchise investments this year. The platform will still be banking on food and beverage brands, which comprise at least 60 percent of the total industry.
The online platform was founded by entrepreneurs Joe Magsaysay (Potato Corner), Anton Ojeda (ZomatoPH and BeepbeepPH) and Ledesma (Mercato Centrale and EnterPH).
The franchising industry is seeking to buck economic challenges and hit P1.3 trillion in revenue by 2020. The Philippines has the largest franchise market in Southeast Asia with more 2,000 brands operating in the market.