With the Philippines having a median age of 23, and with BPO sectors giving over 1M people higher disposable income, younger consumers are one of the most important segments in the market today. Investing in this segment early on, will continually reap benefits in the years to come. A few franchise brands & industries to watch out for are:
1. Children’s education – As the market becomes more competitive, more families have been investing their extra income in supplementary education for their children. With the trend of schools moving into Singapore Math curriculums, Seriously Addictive Math from Singapore and Mathemagis are poised to capitalize on this trend. Other families on the other hand have started to invest in more art and craft education. Clay Works from Thailand sees this trend and is aiming to enter the Philippines with their unique 3D education using clay.
2. Bringing millennials back to basics – in what seems to be a paradox, as more and more millennials shift into the mobile and digital platform, the more they also crave for pen & paper. The Paper Stone targets this market with a stationery store adapted to millennials. With designers from Singapore & Korea, high quality materials, eco-friendly products and new designs that come out every week, the Paper Stone has been able to grow to 9 stores and 85k fans on FB in less than a year.
3. Fitness - fitness continues to be a growing trend and the millennials continue to drive the trend towards health & wellness. Brands such as 360 Fitness offers them with an opportunity to keep fit, but just spend 30 mins in the gym so they can go about their living their lives outside the gym. While other brands such as Pure Nectar offer cold pressed juices that give a boost of vitamins to keep people healthy.
Success in franchising relies both on your skill as well as your ability to spot concepts that are tapping into key long term trends. So it’s important to take time and understand these trends and invest in the right concept.