There are signs of “revenge business” on Easy Franchise, an online franchising platform. “We’re seeing a resurgence of people getting franchises,” said cofounder Rene “RJ” A. Ledesma, Jr.
“A lot of OFWs (overseas Filipino workers) are investing and putting up franchises in their home provinces because many of them have contracts they know will expire in the future,” he told BusinessWorld in an Aug. 23 email. OFWs are reinvesting now so that their businesses will be operational by the time they get back home, he added.
Essential services like water refilling stations and laundromats received the most interest.
Easy Franchise is hosting a franchise sale on Aug. 28. Similar to double-digit sales days such as 10/10, 11/11, and 12/12, the event offers promos and discounts exclusive to the platform.
“Promos are already up to give people time to make a decision,” he said.
Participating brands include Mister Donut, Cha Tuk Chak, H20 MineralPlus, Samgyup Express, Cycle House, and Lavada.
Prior to the pandemic, the franchising industry contributed 7.8% to the country’s gross domestic product, according to the Philippine Franchise Association. — Patricia B. Mirasol