Calling out all franchise hopefuls who can be the next big thing!
The Philippine Franchise Association (PFA) is looking for driven franchisors that have promising businesses which can further grow through franchising whether locally or globally.
The franchise organization is holding a search for the next franchise success stories through the contest “NextGen in Franchising” where hopefuls can pitch their big ideas to investors, top industry consultants and a range of experts and fellow vendors which can help build up new concepts for these young entrepreneurs to grow.
The NextGen in Franchising contest is part of a global search initiated by the US-based International Franchise Association, where it seeks to promote franchising as tool to accelerate business growth and recognize the brands and businesses that can scale up through franchising.
Famous household brands that rose from their humble beginnings in franchising are: Jollibee, Chowking, Goldilocks, Max’s Restaurant, Pancake House, Yellow Cab, Potato Corner, Waffle Time, Red Ribbon, Figaro, Fiorgelato, Bench and Penshoppe, among others.
To qualify as a participant, contenders should be an established business with at least one outlet or prototype, not yet in the franchising space, and owners should be aged between 18 to 35.
Participants are also required to abide by the rules and regulations of the PFA NextGen Committee; be willing to give additional information required by the roster of judges; make a senior company official available for interviews; and indicate the willingness of the CEO or owner to appear and receive an award if selected.
Business who qualified will be requested to submit an application form, an executive summary of the business and how franchising can help it grow (one to two pages), and an ad selling the business idea whether it may be in a two to three minute video form, print ad or a PowerPoint sales pitch of five slides maximum.
These participants will be judged according to their uniqueness and creativity (25 percent), marketability (15 percent), adaptability of concepts to other markets (15 percent), techability of concept (10 percent), profitability (10 percent) and quality of presentation materials (25 percent).
NextGen’s top finalists will be invited to the PFA Excellence Awards, where these potential businesses will meet the biggest and most successful entrepreneurs in the industry, while the grand winner will be included in the roster of franchisors participating in the NextGen in Franchising in the US.
Deadline of the submission of entries and requirements is on August 7.
For more details, contact the PFA and look for Jake Santos via numbers (+632) 687-0365 to 67; via mobile +63917-832-0732,+63999-883-3732, +63932-879-2732; or
e-mail Pfa@pfa.org.ph.