Business Idea: Here are 3 Retail and Service Franchises for the Digital Age
Updated: Aug 22, 2020
Companies you can franchise aren't just limited to food.
From lighting, to mobile repair to anything electronic, these new retail franchises are starting to change the franchise market.
Franchise Fee: P580,000
Total Investment: From P4.5 million
Ilaw atbp. is a one-stop-shop for lighting and electrical needs. It has established itself as a leading expert in that market segment here in the country.
Founder Edwin Pimentel’s wisdom in light retailing is worth over decades of experience and hard work. Starting with his early years of employment in a renowned lighting company, he was able to understand the ins and outs of the business within a relatively short time. Determined to start his entrepreneurial journey, he resigned and put up his own light retailing business. Armed with experience and good business acumen, he launched Ilaw atbp. in 1999.
Pimentel envisioned the company not only to be a market player, but a market leader by offering exclusive products that will set a tone in the industry. He imported chandeliers and decorative lamps to supplement his business. He was also particular with the consistency of his products, which led him to invest in an off-shore factory dedicated to supplying the flexible demands of the market. He believes Filipinos deserve nothing but the best.
Today, his vision and dreams for ilaw atbp. are being realized with his team of hard-working individuals eager to bring a brighter future to every Filipino home.
Franchise Fee: P300,000+
Total Investment: from P1.5 million
Got a cracked LCD screen? A broken charging pin? Or a laptop that’s gone haywire?
Power Fix offers speedy, affordable yet high-quality repair services of electronic gadgets, along with mobile accessories and devices for sale. Their repair services cover most gadgets and accessories such as LCD TVs, keyboards, chargers, computer parts, etc.
Unlike service centers that can take weeks for repairs to complete, Power Fix repairs only takes a day or two at most. There is less waiting time as there is a technician on standby and fast-moving parts are already stocked or ready to be delivered as needed. And compared to the prices charged by most other service centers, Power Fix repairs are only a fraction of the cost.
The business model is designed to keep expenses low with their kiosk format while maintaining the speed, quality and consistency of their repair work. Power Fix also taps on a growing market where on average, three out of 10 Filipinos own a smartphone. Repair and services of mobiles, gadgets and other electronic devices and accessories is in high demand, especially in highly populated areas.
The company has also developed its own proprietary software to help franchisees track down inventory to ensure their stores are well-stocked and maintained. In addition, Power Fix is currently finding new ways to make transactions faster. Franchisees can expect more innovations soon to make Power Fix grow bigger, faster and better.
Franchise Fee: P180,000
Total Investment: P600,000
Every day, our digital capacities widen. Thus, the requirements to get things done get heftier than ever. In a world where Millennials and Gen Z dominate the consumer market, digital products continue to evolve within three dimensions: wireless, mobile, and online.
Edifer Manalese knows this well since he started way back in 2006. After opening his humble Personal Computer (PC) Repair shop, the clamor for services involving hardware and software consistently grew. The small freelance business could have been enough to pay the bills, but for Edifer, it was a once-in-a-lifetime opportunity to do something big—enough to help his family and other Filipino families.
Manalese has since been able to put up eight branches of service kiosks and computer shops in Pampanga, and that was the birth of the Edifer Enterprise brand. Edifer Electronics is now known as a leading electronics retail shop in the province offering exclusive merchandises imported directly from international manufacturers. About 80 percent of its SKUs are products that are hard to find in other existing competing brands. As technology never sleeps and obsolescence can happen in a blink of an eye, Edifer ensures strong partnerships with innovators and manufacturers to know the latest products and trends they can offer the Filipino market.
Francorp Philippines helps entrepreneurs scale up through franchising. To know if your business is ready to franchise, take our free franchisability assessment, email email@example.com or visit http://francorp.com.ph.
Chris Lim is the CMO of Francorp Philippines (francorp.com.ph); President of U-Franchise Sales & Management (www.ufranchiseasia.com); Chairperson and Director for Special Projects, ASEAN Integration-Philippine Franchise Association