Paving a Way Forward for Small Businesses: BlendPH, Chef & Market Seal MOA
Comfort food, whether during sunny or rainy days, is something many people will happily spend on. Realizing this, enterprising Pinoys taking the franchise route lost no time bringing the ‘restaurants’ or food orders to people during the pandemic. These small but nimble food franchise ventures on the rise illustrate resilience, and into this mold belongs food franchise owner Chef & Market Brands Inc.
Chef & Market Brands Inc., which owns the brands Chom Chom, Kuya Bao, and Gusto Goto, recently sealed a Memorandum of Agreement (MOA) with trusted peer-to-peer funding platform Blend.ph. The move signals that both parties are gaining steam. Blend.ph looks forward to enabling small business owners – including those in food & beverage spaces — to quickly get the funding they need.
In the Philippines and other parts of the world, including the US, business is thriving for franchisees who are hustling their way up to generate income stream. With the easing of lockdown restrictions, sales of grab-and-go meal takeaways continued its upward trend, at least for those giving attention to both quality and service. Indeed, quality of service is important.
Among the elements that has enabled small food enterprises to gain momentum is goodwill built with customers – continually finding ways to be creative, attentive and resourceful, quickly partnering with food delivery services or having their own in-house riders. Having a “make-it-work-no-matter-what’ mindset was crucial. Adhering to sanitation and hygiene protocols and maintaining quality product lines certainly counted a lot.
It can be noted that worldwide, the pandemic struck at a peak time for entrepreneurial activity. Yet it opened opportunities, too. In the Philippines, some franchisors immediately pivoted and looked at the bright spot during the Covid era. While many brick-and-mortar restaurants have yet to fully reopen or are racing to catch up, small food franchise carts were already busy filling orders.
Nonetheless, operating a small business requires not just tons of patience, energy, resourcefulness, and networking skill, but also funds. Without cash infusion or credit lifeline, businesses may need to do drastic cost-cutting, but without compromising quality. Realistically speaking, insufficient capital is often the main reason small businesses fall by the wayside.
Fortunately for those using the franchise system, there can be huge franchisor support and guidance, but funding assistance from partner-firms, like Blend.ph. P2P lending sites like Blend.ph help business-minded individuals experience the jumpstart that they need, without the constraints of traditional bank financing.
A franchise loan applicant can borrow without hassle by going straight to the platform, and find the requirements and steps – from account creation to verification to funding & disbursement – there. The best P2P funding platforms ensure that borrowers get their money at a reasonable rate and lenders derive profitable returns on their investment.
Experienced business owners advise that if you are going to start up make sure you are not putting all your own assets on the line. You need to have more than one income stream, too, and set aside money ‘for a rainy day.’
Venturing into a low-cost food franchise business also requires constant networking and collaboration, which can pave a clear path to an upstream investment capital. Being aware of market preferences – what food & drink combinations customers want, how much the target market is willing to spend, and overall convenience to buyers – is a solid formula to retaining share of the market.
As franchise owner, Chef & Market Brands Inc. offers not just the usual training and pre-opening support, but a scalable business model. Insights and lessons from similar business owners who have survived and learned are valuable.
Just the knowledge of how much capital is needed to start one’s business and survive through break-even is of immense value. Chef & Market Brands’ franchise offering, for example, considers the best interest of the average working Pinoys, including OFWs and parents juggling responsibilities.
A Chom Chom Yakisoba Noodlelicious Cup, for example, is offered at a special discount for an OFW or relative of an OFW, a parent, or a frontliner and/or a government employee. The food cart, equipment and small wares, initial inventory, one set of crew uniform, operational training of crew and marketing support are the inclusions.
There is also the “Negosyong Patok Ngayong Pandemic” Gusto Goto kiosk format that includes the usual franchise tradename and logo, kiosk design, signage and complete set of equipment, marketing collaterals, initial stocks, Operations Manual, training of service crew and franchisee, plus two sets of uniforms and grand opening assistance. Kuya Bao, a delicious twist on braised pork belly stuffed into bao buns, is likewise among the hot-selling food franchise options.
The value added elements include no marketing fee, no royalty fee. The constants are business guidance, research and development, online and social media assistance. Promotional offerings to entice food-loving consumers to get to know the brands are ongoing. A “family feast” may be ordered and shared with 10 to 11 other family members, including a bilao of chom chom yakisoba noodle, Gusto Goto pares, kuya bao, and pandan iced tea.
Venture into the field of a startup food franchise business prepared. Log on to www.blend.ph and check your eligibility for your chosen online franchise loan or business loan.
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