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Micro businesses in the Philippines can be defined according to the size of assets, size of equity capital, and number of employees. A typical micro business is a business that employs nine people or fewer, with assets of ₱3 million and below. In the Philippines, about 90 percent of all businesses are categorized as micro businesses.
SM Retail has ownership over SM Supermarket, SM Hypermarket and Savemore chains which would later be called collectively as SM Markets. [8] [1] It also owns SM Store department stores and food retail stores under Walter Mart and Alfamart (joint venture between SM and the Indonesian-based mini-mart/convenience store chain for Philippine franchise).
In Kazakhstan franchise turnover for 2013 is US$2.5 billion per year. Kazakhstan is the leader in Central Asia in the franchising market. A special law on franchising came into effect in 2002. There are more than 300 franchise systems and the number of franchised outlets approaches 2000. [41]
Asia Pacific College – a joint venture between SM and IBM Philippines. [18] Gaming. Belle Corporation is Henry Sy's foray into the gaming industry in the Philippines, hoping to capitalize on the future of Pagcor's entertainment city. It is the developer of leisure and tourism destinations in the country. [19] [20] [16] – (SM owns 27%)
Microfranchising is a business model that applies elements and concepts of traditional franchising to small businesses in the developing world. It refers to the systemization and replication of micro-enterprises. Microfranchising is broadly defined as small businesses that can easily be replicated by following proven marketing and operational ...
Magsaysay knew only the basics of franchising from his job at Wendy's and at the time it was a novel idea in the Philippines. As such, their first franchisee agreements were largely informal and their first franchisee signed a document they copied from online. The group raised funds for their expansion and quickly became large in the local ...
PriceSmart was the first major foreign retailer to enter the Philippine market since the passage of the Retail Trade Act of 2000, which liberalized the retail sector. [3] In November 2001, PriceSmart opened its first branch on a 5,000 m 2 (0.50 ha) property in Bonifacio Global City , then known as The Fort.
This led to the adoption of a franchising business model for DLI in 2007, allowing the opening of several outlets. [7] DLI changed its name to The Generics Pharmacy (TGP) when it became open for franchising. [6] By 2014, The Generics Pharmacy has changed its official name to TGP, with its owners believing it would promote better brand recall. [5]