History Of Franchising

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Franchising is a business tactic for getting and keeping clients. It is a marketing system for creating a likeness in the minds of present and potential customers about how the company's products and services can help them. It is a method for distributing products and services that satisfy and suit customer needs. (Gappa, 2001)
Throughout history, franchising has promoted economic freedom, synergy, and opportunity, and has been true to its etymological roots – “freeing” commerce from many of the customary chains that had bound it. Naisbitt’s prominent remark in Megatrends is not an overstatement – “Franchising is the single most successful marketing concept ever.” (Franchise Law,___)
Franchising has been in the Philippines for 94 years. With the opening of Singer Sewing Machine in 1910, an innovative company came up with a product …show more content…

The total franchise cost is around P750,000 including the whole initial stock on consignment. Every franchisee who joins the TGP network benefits from a full support package that includes the right right to use TGP’s trademark, name and logo, start-up and pre-opening assistance, site evaluation assistance, architectural/store design and construction assistance, franchise operations manual, extensive training on pharmacy retailing, business management/operations and customer service, guidance and education on generic drugs, regular advertising support and marketing and promotion assistance.

Franchisees are entitled to continuing support to help run and maintain their outlet’s performance at optimum level. This covers regular monitoring of outlet, direct and open-line communication with franchisor, ongoing business consulting and guidance, refresher trainings on new products, services, promotions or retail innovations, national and local store marketing support and guidance. The payback period is about 2 to 3

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