MANILA, Philippines- Japan's famous convenience store chain will begin franchising in the Philippines. It targets to open 500 store chains in the country by 2018.
"We will begin the franchising this October and will launch the franchise program on September 23," said Eduardo Paredes Jr. General Manager of Philippine FamilyMart CVS Inc.
According to him, the convenience shop decided to expand and conquer the franchising industry in the Philippines. "When you are in franchising business, this is the best way to expand. If you reach out to business people, the expansion becomes faster."
FamilyMart Co. Ltd. Chairman and CEO Junji Ueda said that franchising has been done by the convenience store chain in different parts of the world as well.
Paredes stated that the convenience store is expecting to attain 90 to 100 operating stores by the end of this year.
Currently, FamilyMart has over 50 stores in strategic areas across Metro Manila. While waiting for FamilyMart to formally introduce the franchise program, Paredes told the press that the company has been getting inquiries from aspiring franchisees. They are starting to receive calls from entrepreneurs.
Paredes also emphasized to those individuals who are interested in becoming FamilyMart franchisees, they will need to comply with certain requirements. They can apply by calling the office, or they can contact via email too. If they have a site, they will look into it and will conduct interviews about it. We also welcome aspiring franchisees that do not have a site yet.
Any young entrepreneur who is 25 years old and above, college graduate, has the capacity to fund the investment through personal or bank institution, you are very much welcome to join FamilyMart franchise program. It will depend on the size of the store, a FamilyMart franchise can start from Php4 million to Php8 million.
