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 | 2471 Hits

2. Franchising now accounts for 5% of Philippine GDP — study

The franchising sector has contributed an estimated P106.75 billion to the nation’s economy translating to 5 percent of the country’s total gross domestic product for the years 2005 to 2007, a study revealed.

Results of a study conducted by the Philippine Franchise Association (PFA) with the University of the Asia and the Pacific (UA&P) were divulged at yesterday’s opening of the 16th Philippine International Franchise Conference and Expo (PIFCE).

Since its introduction in the Philippines in the 80’s, franchising has experienced phenomenal growth, proving itself as a resilient and adaptable business strategy, the study said.

10/07/2008 | 250 Hits

3. Jollibee affiliate allots P27M for branch expansion

JOLLIBEE FOOD Corp.’s (JFC) low-cost homestyle Filipino fastfood chain Manong Pepe’s Karinderia intends to have at least nine additional branches this year to cater to the growing demand for affordable meals.

Following the listed company’s annual stockholders meeting last Friday, Raffy dela Rosa, Manong Pepe’s president, told reporters the company has alloted P27 million for its branch expansion plans this year.

Barely a year into its operations, Manong Pepe’s has opened three outlets located in Mandaluyong, Quezon City and Muntinlupa.

Mr. dela Rosa said Manong Pepe’s plans to open the new branches all in Metro Manila, preferably near busy thoroughfares like EDSA.

30/06/2008 | 2008 Hits

4. McDonald’s franchise holder shelves IPO plan

Golden Arches Development Corp., the Philippine master franchise holder of fast-food chain McDonald’s, said it had shelved plans for an initial public offering (IPO) of stock in view of weak market conditions.

Company chairman George Yang said there would be no IPO, “at least not in the next few years.”

27/06/2008 | 238 Hits

5. Reyes Haircutters speeds up expansion

Reyes Haircutters has opened a full-service salon in Boracay in a move to accelerate its expansion plans.

The Boracay branch joins the roster of franchises of the top salon chain, which was established in 1991 with the vision to provide affordable high-quality products and services to Filipino families.

“Reyes Haircutters Boracay is another first in the country as it is the only salon to offer complete services—from haircuts to foot spa—in the island,” says Les Reyes, chairman and chief executive of Reyes Hair Co. International Inc.

Reyes comes from a family of salon entrepreneurs, which started with “Mama Ada” of Ada’s Beauty Salon in the 1960s. He has a Masters of Entrepreneurship degree from the Asian Institute of Management and is a director of Strategic Franchising Concepts Inc.

27/06/2008 | 1797 Hits

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