Pulse September 2015 | Page 44

THE OF Following a Formula BY MAE MAÑACAP-JOHNSON There are two sides to a coin— a franchise business is no different. While some may argue that operating a franchise could mean less freedom and control in introducing new ideas or operational processes, buying into a franchise, however, allows access to proven-and-tested formula on how to succeed in a new market. Buying a franchise also means buying into a brand, which gives you access to brand recognition, making it easier to standout against competitors. Despite its many advantages, the franchise business model is not a silver bullet when it comes to business success. In fact, hard work starts from as early as the franchise application stage. 42 PULSE ■ September 2015