The Philippine franchising industry is projecting a 10-percent to 13-percent growth in the next five years, with the food, retail, and service sectors driving the growth, according to an official of the Philippine Franchise Association .
The PFA chairman noted that food, retail and service sectors are expected to drive this growth. For the service sector, Quintana said, “With the service sector really receiving the clock end during the pandemic, we’ve seen a lot of growth…for the service sector where there’s a clamor in the overseas market. But of course food has been a winner through and through.”
But, Lim noted that among the sectors, retail has a “faster turnover” since “they are much faster in terms of bringing these brands globally.” “During the pandemic we noticed that there were a lot of home brewers who really specialized or upgraded their coffee experience. When things opened up, there was a void that needed to be filled in the urban sector’s cities and this is driving so many coffee shops to open,” Sanz added.
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