The country’s franchise industry is set to grow by 12 to 15 percent this year, according to the Philippine Franchise Association (PFA).
The growth will be driven by the international expansion of more local brands.
PFA chairman Sherill Quintana said during the Franchise Asia Philippines 2023 press launch that the food and beverage sector, as well as the retail industry, would be the growth drivers of the franchising industry.
Quintana emphasized the untapped potential of the Philippine food and beverage sector and the immediate expansion opportunities for retail stores.
The PFA aims to help local brands scale up and seize opportunities in the industry.
