Paranaque City, Philippines, May 16, 2013 --(PR.com
)-- The year 2013 continuous to be promising as the Philippines achieved higher credit & economy rating. This is the best time to invest and the most common practice in entering the business world is franchising. Franchising is the easiest and most practical way of starting your own business that is why it is a boom in the Philippines. However, as the industry continuous to evolve one should take into consideration the changing trends to fully maximize and choose the best franchise brands fit to them.
On top of these ever changing market demographics, there are still many trends in franchising and few of them are:
1. Area Bombardment – The franchisors have realized throughout the years that instead of opening dozens of franchisees in a certain location, it would be more ideal to partner up with an overseas or area developer that is more knowledgeable of the culture and would hopefully lead to operating numerous units at once.
2. Refranchising – This strategic move is when a company sells its corporate owned-stores to franchisees. The reason behind this, as Kevin Burke -managing partner of Los Angeles-based Trinity Capital Management explains, "A franchisor's skill set is very different from the disciplines needed for a franchisee to run store operations. They want to have a line up of executives who are well-versed in policing brand standards, working on products and promotions and overall strategy. They don't need to be running the stores themselves. From a strategic point of view, companies are saying, ‘We want to stick to our knitting and what we're good at.'"
3. Healthier Fast Foods – One of the manipulative ways to convince consumers into purchasing more of their products is to sell it in such a way that would actually cause good to them knowing that fast foods have generally been known to be unhealthy. This is how they try to reinvent the brand.
4. Digital Aids – Or what we commonly known as “ads” or “advertisements.” They have discovered using the internet, several types of promotions, discounts and anything they can think of to draw in the attention of the consumers.
Binalot did not stop from area development, once they have made one branch successful, they open it up for franchising so they can focus in implementing brand standards and general strategy. It may also be the other way around. When the store is not doing well, or as they coined it as ICU (Intensive Care Unit), Binalot takes over the store to turn it around then sell it.
Binalot continuous to expand and adapt to the changing tides of the fastfood industry. Innovation is one word their CEO – Mr. Rommel Juan never gets tired of. In fact, Binalot employees eye him as an ultimate innovator. As Mr. Juan said in an interview, “You can expect many changes from Binalot in the coming months so be sure you're connected to us. All our innovations are created to improve the consumers’ experience.”
To be updated, join their online community in Facebook (www.facebook.com/binalotfiesta) or follow them on Twitter @Binalot. For franchising inquiries you may call their hotline 822-6483/821-0509 or visit their website www.binalot.com