PFA scouts for the next big thing in franchising

This is a clarion call for all franchise hopefuls who can be the next big thing in franchising!

The Philippine Franchise Association (PFA) is looking for driven franchisors with promising businesses which can further grow and expand through franchising, both locally and globally.

PFA has launched 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 who can help them develop new concepts for their young enterprises to grow.

The “NextGen in Franchising” contest is part of a global search initiated by the US-based International Franchise Association (IFA), which seeks to promote franchising as a 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 include Jollibee, Chowking, Goldilocks, Pancake House, Max’s Restaurant, Yellow Cab, Potato Corner, Fiorgelato, Waffle Time, Red Ribbon, Figaro, Bench, and Penshoppe, among others.

To qualify, prospective participants should be businesses with at least one outlet or prototype, not yet in the franchising space, and their owners should be 18 to 35 years old.

Participants are also required to abide by the contest’s rules and regulations set by the PFA NextGen Committee, be willing to give additional information required by the roster of judges, make available a senior company official for interviews, and indicate the willingness of their chief executive officers (CEO) or owners to appear and receive the award if chosen.

Businesses which qualify will be asked to accomplish and submit an application form, submit a summary company profile and how franchising can help it grow (one to two pages), and an ad copy selling the business idea, whether for print, or two-three minute video form or a power point sales pitch in a maximum of five slides.

The qualified participants will be judged and rated according to their uniqueness and creativity (25 percent), marketability (15 percent) adaptability of concept to other markets (15), teach ability 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 automatically be included in the roster of franchisors participating for the NextGen in Franchising in United States.