1. Hapinoy: The Microfinanced Franchise Model

Sari-sari stores are make-shift local community convenience stores that serve the vast underprivileged majority of the Philippines. There are about 650,000 of them scattered around the nation and virtually all of them are individually owned. For years, ambitious local entrepreneurs have dreamed of consolidating this massive retail category. A bunch of them dreamed with a social conscience and are now finding success with a venture called Hapinoy.

Hapinoy seeks to become a “preferred business partner of the poor” by partnering with local microfinance institutions to provide women borrowers with top credit scores a Hapinoy sari-sari store franchise. Hapinoy provides value by serving as a retail consultant, brand marketer and merchandise consolidator (it deals with manufacturers directly). The company makes money by getting a percentage off the merchandise, which ties its long-term interests with each individual store’s sales growth and inventory turnover. Because of the network effect and economy of scale achieved by being under one Hapinoy brand, store owners still end up with higher margins compared with traditional unbranded sari-sari store owners.

14/07/2008 | 2468 Hits

2. Malaysia seeks trade ventures

MANILA, Philippines--Philippine and Malaysian retail outlets are expected to be put up in the major cities of the two countries as a result of the efforts of a Malaysian mission.

The 20-member mission, led by Malaysian Entrepreneur and Economic Development (MECD) Minister Yang Berhormat Dato Noh Bin Omar, is pursuing joint franchise ventures as a way of strengthening diplomatic and economic ties between the two countries.

The MECD has put up a Malaysia Pavilion at the 3-day Franchise Expo 2008 going on at the SMX Convention Center in Pasay City, with Omar and Trade Secretary Peter Favila doing the opening honors.

The exhibits of franchise brands may be viewed at the expo up to early evening Sunday.

14/07/2008 | 1083 Hits

3. DBCC asked to review declining ratios to GDP

Government budget and finance officials’ initial figures show that the ratios of revenues and expenditures vis-à-vis gross domestic product (GDP) are on the decline for 2008 and 2009.

This is why Finance Secretary Margarito B. Teves, who in a meeting with the inter-agency Development Budget Coordinating Committee (DBCC) on Monday, asked officials to again review the numbers. Based on emerging figures, the government will be collecting higher revenues for the year to plug a portion of the budget deficit.

10/07/2008 | 809 Hits

4. BSP may raise overnight rate to 6.5%

The Union Bank of Switzerland (UBS) expects the Bangko Sentral ng Pilipinas (BSP) to raise its overnight borrowing rate to as much as 6.50 percent this year from the current rate of 5.25 percent.

The latest projection was revised from an earlier 2008 forecast of  5.75 percent as UBS took into account skyrocketing inflation and investors’ perception that monetary policy remains too loose.

“With inflation continuing to surprise on the upside and inflation expectations rising faster than we anticipated, we now judge that more monetary tightening will be needed to stabilize inflation expectations, raise real interest rates and halt the peso’s decline,” UBS said in its latest report on the Philippines.

10/07/2008 | 335 Hits

5. JFC eyes 10,000 stores abroad by 2020

Jollibee Foods Corp., the country’s number one homegrown fastfood chain, is eyeing the establishment of 10,000 stores globally including its acquired other brands by 2020 largely through franchising.

Ernesto Tanmantiong, president of the publicly-listed JFC, revealed this in a keynote speech at the 16th Philippine International Franchise Conference saying this target supports the company’s vision to become the largest food company in the world.

"We will be as well known as any other brand in the world, the best quick service restaurant and the most endearing brand that has even been," Tanmantiong said.

10/07/2008 | 735 Hits

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