CONSIDERING OUR today’s situation, people are looking for more source of income, where employees tend to look for more part time, and jobs to apply. But we can never deny the truth that all people are time trapped with their 24 hours. Try to ask anyone, given a chance to have enough capital, ask them which they would prefer, to be a businessmen or an employee and for sure we’re certain with the answer. WE KNOW VERY WELL, THAT IT IS BETTER TO PLANT ON YOUR OWN FIELD, THAN TO PLANT ON THE FIELD THAT HAVE NEVER AND WILL NEVER BELONG TO YOU.
BUSINESSMEN TODAY are those whom we believe to be earning the highest income in the independent population. Where, there is the Boss, the Organization and the Employee. Business was said to be the best source of income for it lessen the time you have to spend while earning more income through hiring people as employees doing specified jobs.
YEARS AGO, where Greece and Rome has been considered to be the best nations in world pointed out their reason that the status of elite families are caused of their educations and achievements. In comparison today, We Filipinos have the mindset that businesses like restaurants, apartments, cafes, bookstores and many more are business requires LARGE CAPITAL to earn LARGE INCOME.
But in today’s world, large capital can no longer ensure you to earn large income. Why? Haven’t we been witnesses of such business where it has grandiose openings and free food tastings but after three months, it unnoticeably disappears? Haven’t we heard any of our relatives opening a business, but the next time you heard about them, is that they have to leave the country for they no longer found any hope here? We have been in this modern era, where we have to accept the fact that business is no longer about capital. But it’s about the product and the service you render.
SO HOW can we start a business without investing large capital? This, we enter to the Franchising Business. Franchising essentially involves transferring a successful business formula to another person or company. “Successful” then is the operative word in franchising. In contrast, a fake franchiser doesn’t know how to be successful, he or she just thinks of how to make money. Why Franchise? If the economy is good, all franchise stores do well… And when the economy is bad, franchisers do better…
When you go into a franchised business, you will learn how to operate your own business, market your own products & manage your own people.
FOR ALMOST two years, we have noticed how successful franchise owners do well. We have seen several similar faces being published on different Entrepreneurial Magazines, or names of people that had increased their assets incredibly for just a year. And now we continuously feel the potential of placing food carts to the places like MRT, LRT, Schools, Banks, Offices and many more, where people now tend to prefer easy and affordable meals. Maybe some of you even have the hunch which business to start, or locations you feel would do great.
But before making a decision to franchise, here are the things you must consider about Food Cart Franchising:
CONSIDER THEM AS YOUR GUIDE!
1. OFFICE AND LEGALITIES
The franchising company must be legal. It needs to have a certain office where all the food carts are displayed and all transactions are being made. For legalities, you must ask for copies of certifications from DTI and SEC where you can assure that the company is allowed by the law to operate.
1. OFFICE AND LEGALITIES
The franchising company must be legal. It needs to have a certain office where all the food carts are displayed and all transactions are being made. For legalities, you must ask for copies of certifications from DTI and SEC where you can assure that the company is allowed by the law to operate.
2. GROWTH AND STABILITY
There is a very big difference when it comes to a company’s growth and stability. When we say growth, we focus on the company’s increasing performance of output and productivity. Like how many franchisees are being added monthly? Weekly? Or even daily? On the other hand, Stability means it is a condition showing a consistent growth of the company. Like, Do they continue having more and more franchise food cart orders monthly? Weekly? Or even daily?
3. FACTORY
One of the best things to consider on franchising a food cart is that they must have an OWNED FACTORY not to have conflict with product stocks. The factory will also ensure the cleanliness and quality of the products. There are certain franchising companies that would only require you to purchase the name, and the cart, and would allow you to buy products on places you would find less expensive. Yet, the BIG problem with this, is that we had business to consume our time wisely, but bothering where to get the less expensive kikiam, puto, siopao, siomai, and many other products would cost you a lot of time and effort to gather such products that would even come from far places.
4. FACTORY PRODUCTS
All business are ineffective, if their products are as well. The service or product is the main course of a business. It is the main reason of purchasing. We go to a burger stand, not because of the handsome crew, nor the set up of the place, but MAINLY because of the burger product ITSELF. This is why, you’ve got to study the Stability and Growth, not only of the company but the factory as well. How long have the factory been operating? Months? Years? Or decades? Our answer could determine the product stability and growth of the factory.
5. ACCESSIBILITY
It is always the question of a franchisee on where are they going to get the products if they’ll put their business on far places like Cebu, Davao, Leyte, and many more. Certain franchise companies have problems with these, for they can only entertain those who want to place their carts within Metro Manila. More than that, no more. But the good thing is that, there are certain franchising companies that have PICK UP CENTER scattered nationwide, making everyone free to put a business in provinces they would desire.
6. ROI (Return of Investment)
Now, let’s talk about capital. In the introductory part of this blog, you have read that in today’s world, it is no longer a condition that someone must allot big capital to earn big income. There are franchisees that stopped functioning after three months operation for they can no longer see hope for their business. Why? Such businesses that requires large capital, would took long time to have their return of investment.
For example:
Mang Juan will be establishing a Restaurant named “Seafood Delights”. He invested a total of P10 Million as his capital. If Mang Juan will be earning P10000 NET a day, it would took 2 ½ years before he could receive his full (but unfelt) ROI, and finally have the profits on the further days go straight to his pockets.
Aleng Tina purchased a Siomai Food Cart for P280,000.00. Plus his rental, labor, and other expenses, she has to provide more or less P300,000.00 to start the operation. If her food stall would be earning, P3000 a day X 30, it will take 2-3 years to get your ROI back.
This is why, food carts with affordable price is one of the great suggestions for it is the BEST GAMBLE a BUSINESSMAN COULD HAVE. Why? Because purchasing a cart with an affordable price would certainly not hurt your pockets and can bring back your ROI for just a YEAR especially if the products are high in quality.
THESE SIX characteristics to choose the BEST FRANCHISE COMPANY would certainly guide you to make your business successful. Remember that business do not require ‘inborn business minded people’. All you’ve got to do is to believe to the company, to the product, and you yourself as the owner to change this extra income, an extraordinary income.
For suggestions you can visit the following sites:
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