Virtual Seminar: 17th Mindanao Franchise Expo (Continuation)

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6 months ago

This was the continuation of the virtual seminar I attended last October 22, 2022, which was the 17th Mindanao Franchise Expo. It was held through online and via Facebook live and Zoom. This was part our school activity wherein we will conduct a narrative report about it.

Now let' continue and learn more about franchising!

RK Franchising Consultancy

I include this as it is a great company offering a service. As I said, Ms. Sheena Kotik is the Vice President of RK Franchising Consultancy. She explained what franchising was all about, how it differs from regular business, what does a franchise provide, its types of demand and supply. Also, she gives details about why franchising became a good strategy for business growth and ways to earn money through it.

According to her, franchising is a distinct type of licensing arrangement for the distribution of the franchisors and franchisee's goods and services. She claims that franchising has a better chance of success because it is already established. When a franchisee joins the company, the franchisor will use its trademarks, operating instructions, and other tools or methods. The franchisor also approved the store's location, so if you franchise a business, you will have a manual on how to operate and manage the enterprise.

Li'l People

The last but not the least presenter it was presented by Mary Gray Santos, the CEO of Lil People. It is a child care facility that serves parents with children aged 0 to 12. What makes Lil People's three franchise optionsā€”Little People, Little Bounce, and Cartsvilleā€”interesting is that they are all unique. Aside from that, Lil People's CEO has two scheduled meetings. The configuration should be for a pop-up or a hallway. However, the parent will rent wheelchairs and a stroller for their children in Cartsville.Lil People offers six different business models, and we can see that these models are applicable in SM. The overall discussion in the webinar indicates that franchising in an existing and well-known company is easier than starting a new business. It is easier to manage a business if it is already well-known. The people's trust is more important than the newly established business. These four franchise presenters give us an overview of the industries and companies that are best suited for franchising a business.

Conclusion:

The overall discussion in the webinar indicates that franchising in an existing
and well-known company is easier than starting a new business. It is easier to manage a business if it is already well-known. The people's trust is more important than the newly established business. These four franchise presenters give us an overview of the industries and companies that are best suited for franchising a business.

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I hope you enjoy reading and learned something to this!

Let me know your about this article, just comment down below!

All images were screenshots from my mobile phone.

# 79
: Friday
: November 4, 2022
: Re-joyce

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6 months ago

Comments

Starting out using a franchise can be a good lesson for someone who wants to eventually start there own business. But I think one has to work for someone first before starting a franchise on there own, perhaps in management. The big thing is getting business experience

$ 0.00
6 months ago

But, if you don't have experienced, the franchisor can take over the business and make it grow first, then if the business was already established it brand, you can now take the full operation of the business. Still, its up to you to decidešŸ˜‚

$ 0.01
6 months ago

I know in the States there is a franchisor fee to open a franchise. It's good you reap the benefits of something already established but you have a book of rules to follow as well.

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6 months ago

yeah, there's a franchising fee, and the manual on the overall things about the specific business you choose will be given also.

$ 0.01
6 months ago

You been paying attention in class šŸ¤£ Well not like you wouldn't. :)

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6 months ago

Mas maganda nga pag well known na yung company kaya may mga franchise sis compare sa new business di pa alam ng mga tao.

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6 months ago

pero may 2 choices na pwedeng pagpilian diyan sis, if mag pa franchise ka na ikaw ang maggrow mag isa or ipapasa nalang sayo ng franchiser kapag nakilala na yung businessšŸ˜‰

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6 months ago

Ah ganun pala yun sis. Now ko lang nalaman.

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6 months ago