Heto na naman tayo nagbabakasakaling manalo sa lotto. Kahit ano pang sabihin ng blog na ito, at nang iba, eh wala nang makapipigil sa mga nais tumaya. Aba eh pera […]
The charitable Ilocana and I have been exploring other long-term investment options as well as business ventures. Along the way we came across the concept of co-ownerships, specifically co-ownership of […]
So you want to be a franchisee of Brand X some day? Many Pinoys are really inclined to give franchising a try, maybe because they see it as of lesser […]
Last year, news came out that Philippine Seven Corporation (a.k.a. 7-Eleven) is offering franchising packages at a simpler and much affordable price of PHP300K. Naturally, this piqued the interest of […]
Not all franchises are created equal, and it is not meant for everybody. Risks might be minimized if you seek help and affiliation with known brands, but it does not eliminate the risks 100%.
For every franchising booth we approached, the first question I always ask (aside from how much) is if they have ready locations for prospective franchisees. You see, selecting a business is difficult, but finding a suitable location for that business is equally difficult.
As they say, “investigate before you invest”. Or, as a GoNegosyo book says, “Luck is the offspring of preparedness and opportunity”.
Find A Driver. A good, reliable, trustworthy driver that is. Or drivers. This can be the make or break of a taxi cab business, according to cab drivers themselves.
If you’d rather start from scratch and try to study their business model instead (imitate and improve), then you may save money substantially but you may lose on the “established intangibles” since you’re still a start up.
Simple right? But in this foodcart industry, simple ideas can also mean more competition because there is not much barrier to entry. Until the market becomes saturated with so much supply and kills those businesses barely making money.