3 lessons from next-generation franchises
As seen on Entrepreneur Philippines.
Showcasing once again the talent and creativity of Filipino entrepreneurs, two Filipino companies bested over 300 entries from around the world to win in the global NextGen in Franchising award, given to next-generation franchise leaders and recognizes the brands that can further scale up through franchising.
Joseph Calata, the President and CEO of Calata Corporation, and Hans Yao, the President and CEO of The Paper Stone, were both awarded during the International Franchise Association (IFA) Franchise Convention in San Antonio, Texas on February 20, 2016. Each winner was flown to the US to attend and participate in the NextGen Franchise Accelerator program, while also meeting top franchise executives from around the world.
What advice do these global winners have for would-be franchisors?
1. Believe in the concept
“You must first learn to love your business to effectively franchise and manage it,” advised Yao. The passion you put into the business and concept will show at every layer of your business, so you need to make sure you energize everyone with your passion.