7/30/2019 Current Trends in Franchising

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Current Trends In FranchisingThe year 2013 continuous to be promising as the Philippines achieved higher credit & economy rating. Thisis 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 inthe Philippines. However, as the industry continuous to evolve one should take into consideration thechanging trends to fully maximize and choose the best franchise brands fit to them.

First to consider are the shifting demographics of consumers. They can be indentified into four (4) groups:The Millenials these are the generation born and raised of the internet as they begin their careers and raisetheir families; The Baby Boomers - They are forever young generation demanding for anything that mighttry to assure a better future for their health needs to retirement planning and even for the education of theirfuture children. They are the ones that think ahead; The Seniors They are when the Boomers age. Theirdemands would range from healthcare-related services to anything that would be useful for their agingbodies and lastly the Minorities These are the different ethnicities that yearn to achieve their needsthrough franchising. They would invest in a franchise brand that they deem would present new opportunitiesthat is focused on serving them. Each group contributes to the market where your product is competing.On top of these ever changing market demographics, there are still many trends in franchising and few ofthem 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 areadeveloper that is more knowledgeable of the culture and would hopefully lead to operating numerous units atonce.

2. Refranchising This strategic move is when a company sells its corporate owned-stores tofranchisees. The reason behind this, as Kevin Burke -managing partner of Los Angeles-based Trinity CapitalManagement explains, "A franchisor's skill set is very different from the disciplines needed for a franchiseeto run store operations. They want to have a line up of executives who are well-versed in policing brandstandards, working on products and promotions and overall strategy. They don't need to be running thestores themselves. From a strategic point of view, companies are saying, We want to stick to our knittingand what we're good at.'"

3. Healthier Fast Foods One of the manipulative ways to convince consumers into purchasing more oftheir products is to sell it in such a way that would actually cause good to them knowing that fast foods havegenerally 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 usingthe internet, several types of promotions, discounts and anything they can think of to draw in the attention ofthe consumers.

Binalot Fiesta Foods, Inc. has been embracing change since they started the business. In fact it is the veryessence of Binalot, to have a break from the western fastfood who once flooded the metropolis. They didntstop at that, they have resurrected the traditional Filipino way of eating meals on a banana leaf; they havepioneered the use of eco-friendly material in the fastfood arena.

Today, Binalot catered to all market by having a wide array of menu from the globally known ADOBO to avery sinful pork sisig and talong w/ bagoong as side dish. Binalot also developed meals that are healthierand in season like their Lent Special Fish be with you Sizzling Bangus sisig and bangu BBQ. To share theiradvocacy for the environment and bring to as many consumers their ultimate cuisine, Binalot also launched

Area Development. It is a partnership where the franchisee gets exclusivity of a certain area where he/shewill put up several binalot branches.

Binalot did not stop from area development, once they have made one branch successful, they open it up forfranchising so they can focus in implementing brand standards and general strategy. It may also be theother way around. When the store is not doing well, or as they coined it as ICU (Intensive Care Unit), Binalottakes over the store to turn it around then sell it.

Binalot is still a small enterprise and do not belong to the big boys of the fast food industry, they maximizethe limited budget they have to do branding by taking advantage of the 3rd world media The Internet.They are very active online and have established followers through time. All their on-ground activities areconnected online, from announcement and invitations to post events/activities. To top it all even theiradvocacy and outreach activities are held online. Last August 2012, when Habagat heat our land, Binalotcollected pledges of hot meals online and delivered them to evacuation centers. They have delivered total of7,450 hot meals.

Binalot continuous to expand and adapt to the changing tides of the fastfood industry. Innovation is oneword their CEO Mr. Rommel Juan never gets tired of. In fact, Binalot employees eye him as an ultimateinnovator. As Mr. Juan said in an interview, You can expect many changes from Binalot in the comingmonths so be sure you're connected to us. All our innovations are created to improve the consumersexperience.

To be updated, join their online community in facebook (www.facebook.com/binalotfiesta) or follow them ontwitter @Binalot. For franchising inquiries you may call their hotline 822-6483/821-0509 or visit theirwebsite www.binalot.com

Joy FabianMarketing ManagerBinalot Fiesta Foods Inc

3688 Sun Valley Drive Paranaque City Philippines 1700Phone: +639328441808Email:joy.binalot@gmail.com, ilovebinalot@gmail.comhttp://www.binalot.com

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