Young entrepreneur makes millions through franchising

CEBU CITY— A 28-year-old businesswoman from Northern Samar who became a millionaire at 25 is in Cebu to introduce aspiring entrepreneurs to franchising.

Krizia Ann Loyang, the chief executive officer and owner of iFranchise Business Services Corporation, is living proof that one can not only rise from poverty but succeed hugely as well.

Loyang came from a poor family who sold copra for a living. “I grew up with my grandparents who are farmers. They sell copra just to send me to school," said Loyang.

She thought she could not finish her schooling because money was tight. "My grandfather told me that I cannot proceed to college because they cannot afford to pay the tuition and miscellaneous fees, but I strived because I have a dream," Loyang said.

Spurred on by her dream, she graduated from a university in Makati City with a Digital and Arts degree major in Broadcasting in 2010.

"I applied for many scholarships and fortunately, I got a scholarship at Makati," she said. After my graduation, I worked in Singapore for three years and I decided to come back to the Philippines to make my own business because that was my dream and marketing is my expertise."

Loyang started by purchasing a food cart that she would station at a mall in Manila for R30,000. She borrowed the money from friends.

That was how iFranchise began. Today the food cart franchising company has more than 500 franchisees all over the Philippines and counting.

She is in Cebu to open a new outlet at the Raintree Mall. (With reports from Larnie L. Bacalando/PIT Intern)