Back in the day, when we talked about franchising, we were all focused on businesses that involved food. Such famous businesses are Mang Inasal, Fiorgelato, Lotsa Pizza, and Rice In A Box. But entrepreneurs saw the potential of creating a massive business beyond the typical business concepts. Now, we have all sorts of non-food franchising businesses. Such as Laundry, Pharmacies, Nail Salons, Pawnshops, Ticketing, and Travel Agencies, and the list just goes on.

Now, every aspiring entrepreneur has so many kinds of businesses to choose from. And the primary step is to determine which one would truly work best for you – a marketable business and one that you are willing to learn more about. Putting up any kind of business would take a lot of consideration. More than focusing on the financial aspect, entrepreneurs should know if the franchise business they have chosen has a good reputation.

Franchising allows one to have lesser time to worry about establishing the name, thus making it the easiest and profitable way to become an entrepreneur. Unfortunately, some of our entrepreneurs have come across franchisors who made false promises to their franchisees. A franchisor should be able to abide by all written on the Franchise Agreement. More often than not, some franchisors lack time to provide franchisees' support. I know someone who signed a three-year contract for a non-food business only to find out later that the franchisor is almost unreachable. When problems regarding the cost of their services. The business location is quite promising as it was built so that it would stand out from the rest of the same kind of businesses situated near her business. However, being limited on how the business can be managed, especially price-wise, the business suffered a significant loss. Overhead costs were greater than the amount that the franchisee earned. This franchisee had so many things in mind on how she could do a better business out of it, which eventually led her to pre-terminating her contract. Luckily, after months of the request, she was relieved from her contract and relaunched her business without any liabilities from the franchisor.

You wouldn't want to be in that same situation where you would probably just end have had sleepless nights. For sure, some of those who might have gone through the same predicament may have just given up after a few months of almost not earning as much as one would expect. But then again, it takes guts to be moved one and head up! Patience and perseverance will always come in handy in times like these.

 

 

 

The Top Non-Food Business

By next year, there will be more non-food businesses opening up. You should look into these opportunities, especially if you have spotted a great location to put your first branch. The capital to start such a business may range from Php 200,000.00 to Php 3M, depending on the type of business.

1. Tutorial Centers
2. Ink Refilling Stations
3. Fragrance Shops
4. Nail Salon and Spa
5. Laundry

At the last Franchise Expo held last at the SMX Convention in Pasay, more than 600 brands joined. Surprisingly, one of the non-food businesses that caught my eye was Gancha Co., Ltd. They sell pre-loved luxury items. Franchise cost is quite expensive, but hey, who would afford to buy these luxury bags if not those who really have money to spend?

This only shows that there are tons of possibilities on what kind of business you can start with. You just need to squeeze out your creative juices to develop something unique that can quickly get the consumers' attention.

Is Franchising For You?

Like to better manage their business through franchising, the book that I wrote a few years ago, "Is Franchising For You," guides all entrepreneurs and aspiring entrepreneurs. Should you consider putting up a franchise business, be sure to take note of the following:

   1.Starting up a business, whether a franchise business or not, entails.

   2. Being under an agreement with a franchisor, being in a franchise business will have limitations on handling or marketing your business. The franchisor agreement enumerates everything that the franchisor would want to be followed, which should generally be the same as all other franchisees. Was it something you have always planned if you considered franchising, or were you just allowed to have one?

   3.Not all franchised businesses are equal. Some may have their businesses up for a franchise but may not be doing well. Better check other franchisees and know how things have been with them. Know if the franchisor provides the support that they have promised.

   4. A binding contract called the Franchising Agreement should contain everything that needs to be followed while a franchisee is under contract. Don't jump into signing the contract right away. You may seek a lawyer to help you fully understand what is stated in the agreement and know if you are amenable to everything.

   5. Not because you have put up a franchise business would you need to be just sitting and waiting for the money to come in. As an entrepreneur, you should know all about the company and not merely rely on the franchisor. A business cannot run on its own with the owner doing something.

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You may contact Armando "Butz" Bartolome for questions and more information.

By email: aob@gmb.ph

FB Page: Armando Bartolome

Linkedin: https://www.linkedin.com/in/franguru/ 

Website: https://www.gmb.ph