The Digital Ripple Day 2- Engage One, Engage Many

August 20, 2010, Day 2 of “The Digital Ripple” 4^th Internet and Mobile Marketing Summit 2010, was yet another successful long day. Just as the subtitle of this event say “Engage One, Engage Many”. This day was all about how important engaging your consumers to your brand is. Engaging someone would engage many people in a short span of time. That’s the power of social media.

Speakers for this day were kind of serious with the way they speak. Since we can’t do anything about their accent, we just have to catch up and adopt as quick as we can. But nonetheless, great points stressed about engaging consumers to your brand and tips on how to do it.

Throughout the day, there was something that got stuck in my mind, it was “Activating you Brand Through the word of Mouth”. Not only does it save a lot of money for a brand, but it is way faster than doing magic with SEO (Search Engine Optimization). Before something becomes a word of mouth, there must be something really really amazing, funny or outrageous. A video I remembered presented on screen was a piano stairs. This was a perfect example of something cool that created a buzz around the area, thus people started taking picture of it and spread in the internet. How about that for saving a lot of money in marketing? The people who have experienced this amazing stairs were the one who spread the buzz using social media.

Another video presented was about a marketing genius that created quite a buzz in the web (I can’t find the video, so I posted some pictures instead). Since Japan had numerous vending machines, marketers thought of putting a smart car in a vending machine too. It was a very creative marketing move as the display became a tourist destination. People took pictures of it out of amazement and spread it all over the internet.

What does this mean? This means that in the coming years, all business “should” shift to social media, if not, their business wouldn’t last long. Say for example the LEGO Group, makers of LEGO toys. Due to rapid decline in sales, they were desperate of reviving their company. And guess what, they turned to social media. They created an interactive website where anyone can build LEGO toys of the design they want. Once finished, you can purchase the design right then and there and you can assemble it physically once delivered.

Everyone should be engaged to social media even if your company isn’t into technology or web service because social media could get you closer, faster and cheaper to your consumers. Say you have a sugar cane company. Yes you do have a lot of valued clients but imagine you have an online presence and you have utilized social media, this could generate you more consumers. Transactions would be fast, as well as feedbacks that you could use to adjust to provide better service.

Before the day ended, I got the chance to talk to Abe Olandres (YugaTech). The number 1 tech blogger in the country was so kind when I approached him for some advice. It was a good 20-ish minute chat which was really enlightening and encouraging. When it comes to blogging, he reiterated “content is king, always have, always will”.

Also during a panel discussion together with representative from Google Asia and Yahoo Southeast Asia, Abe fared very well in answering questions about search. What I picked up from the panel discussion was the algorithm of search is a mystery and that search will continue to evolve. Soon our search would greatly depend to what our networks have.

All in all, this was a perfectly prepared and executed summit. If it wasn’t for this summit, I wouldn’t have known that this is a rapidly rising industry with only few certified digital marketers. I only noticed mobile advertisements when the summit began. Kudos to IMMAP (Internet and Mobile Marketing Association of the Philippines) for organizing such a very informative summit!

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The Digital Ripple Day 1

And day there goes day 1 of the 4^th Internet and Mobile Marketing Summit of IMMAP dubbed “The Digital Ripple”. Not having a smart phone held me back from fully experiencing the IMMAP Summit. There were applications for smart phones that almost everyone in the hall is already using although it’s not yet popular in our country. They used it for a raffle, sadly I can’t join. Nonetheless, it was a great day of learning more about this industry on the rise.

This year’s summit is called The Digital Ripple for a reason. Like a water ripple, the epicenter creates waves outwards and far. Same with digital marketing, the industry is still considered in infancy stage, yet it is capable of creating big waves, and getting a message to a large number of audiences in a very short time. Classic advertising is a one-way communication that clearly isn’t working much nowadays. With the use of social media, audience now can engage with a brand.

Before brand doesn’t care what the audience thinks of them, now audience is king. What they say matters because today “everybody is media”. Anything we say in the internet is media. We tweet, we use facebook, plurk, etc. Since we are the texting capital of the world, we quickly adopt twitter and now belong to the top 10 twitter countries. It’s like SMS on steroids.

Brands do all they could just to please their audience so they wouldn’t be receiving negative reviews and comments. Having said that, you could immediately sense a very big change or what we call the social media revolution. If web 2.0 gets users to contribute content, web 3.0 gets online life closer to offline. Web 3.0 is called augmented reality and/or semantic web. One thing is for sure, in the coming future, all of us would have our online life and offline life running together at the same time through our mobile phones.

This would mean more and more ways and platforms to reach target audience. This big of an opportunity is being anticipated by giant names in the internet already. It doesn’t necessarily mean that social media would take over the world, but it will be a big part of the world soon. Creating out-of-the-box ads still is the key plus the proper use of social media. So if I were you, ride the wave now before you get left behind.

A topic so deep and it can’t really be defined by anyone because it is ever changing. It evolves every day so that means no one could be a master of digital marketing. However, if you ignore it, you would surely be left behind in a blink of an eye. Soon more jobs could be outsourced and who knows your job or your skill wouldn’t be applicable in the future.

Tomorrow is Day 2 of this summit, hopefully I could pick up more than what I did today. Watch out for more insights about this wonderful topic and event.

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ITSMD: #2 Henry Sy

All Filipinos know Henry Sy or at least have used the services of his businesses. He is everywhere – figuratively. Where ever you look, there’s a Henry Sy brand. He is the business magnate that founded SM Group. His group owns all SM Malls, Sm Prime Holdings, Banco De Oro, China Bank, Supermarkets, SM Investments, Highlands Prime Holdings and SM Development. He is the richest Filipino for a few years now, with an estimated wealth of $5 Billion. So if you don’t know a person this big in our country, you must be living in a cave!

His rags-to-riches story is so inspiring. Coming from a poor family, he then became a Tai-Pan or tycoon of Asia. He claimed the title of richest Filipino away from Ayala and fellow tycoon Lucio Tan.

Ever since a kid, I loved SM Malls maybe because this is where my family brings me every week to eat and play at arcade. Malls became the place to be because you can buy anything there and it is perfect for family bonding. Since we are in a tropical country, SM Malls are fully air conditioned and is open to the public. Even poor people know SM because of this, so I doubt it if there’s a Filipino who doesn’t know who Henry Sy is.

Henry came to the Philippines at the age of 12 working at his father’s sari-sari store in Quiapo where he works more than 12 hours a day. And at his young age, he already is thinking of earning more than he has. In 1950s he gained his education of commerce from Far Eastern University (FEU) then went on a business trip. He brought home a lot of merchandising ideas.

He was the first to open a fully air-conditioned shoe store in the country. But due to poor cooperation of his suppliers, he slowly shifted to apparel and other merchandise. As a result, he opened his first department store in 1972 – two months after Martial Law was declared.

In 1983, he started constructing his first mall. It was also a time where the economy was unstable. But with determination and optimism he pushed through and opened in 1985 with their department store, supermarket and few tenants in it. Later on he expanded by opening SM Sta. Mesa and SM MegaMall. In 1997, they are planning to put up a very big mall, but due to the Asian Crisis it got deferred. However in 2006 they finally opened the 4^th largest mall in the world as we know it, Mall of Asia.

Henry also made a splash in the banking industry as his Banco De Oro bought other banks such as Dao Heng Philippines branch, the First eBank, the Banco Santander Philippines branch, the United Overseas Bank branches, and of course Equitable PCI Bank. Those acquisitions made them the second largest bank in the Philippines in 2008 then became number 1 in 2009.

And if I’m not mistaken, he bought 70% of Far Eastern University and 60% of National University.

He is my idol since a kid, and he still and will remain as an inspiration. Like I always say, if he can, so can I. Though in a different path, his formula to success could be used by anyone who is willing to succeed. I hope I’ll be next to him in the list of Richest Filipino.-DE

“There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again. When you do well, do not change your ways. Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it.” – Henry Sy

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ITSMD: #1 Erik Cua

I made a report back in college about Erik Cua. That time I didn’t even know who he is so I did my research. As I recall, his parents are the owner of Emerald Garden Restaurant located at Roxas Boulevard. And then of course I found out that his businesses are related to night life. From that day on, I admired this guy because as I said, I dreamt of having my own SuperClub and DJ-ing in it.

Erik Cua is a young business magnate best known for revolutionizing the party and club scene in the Philippines. With the help of his parents he started a Cainta Coffee Co. in 1999 just when he was just 20 years old. In 2000, he opened Jack’s Loft. In 2001, he opened club Basement, and in 2003 Temple Bar in GreenBelt with Tim Yap. Then in 2005, together with Yap, Chef Fernando Aracama and Jon Herrera, Embassy SuperClubwas born. It was probably the most talked about club in the history of Philippine clubbing as it redefined nightlife as we know it today.

Followed by a highly successful club, together with Tim Yap, Juan Elizalde, Robbie Carmona, Iza, Calzado, GP Reyes and Stephen Ku the sand of Boracay was rocked as they opened a boutique hotel called “The Tides” in 2007.

In 2008, with night life king Louie Ysmael, international polo player Iñigo Zobel, and GP Reyes, answered a demand for an elite exclusive club with the opening of Members Only. The name says it all, only members can get it, emphasize on ELITE.

Early 2009 Manor SuperClub, formerly Basement, was born. Again this is with Stephen Ku, Tim Yap, and Bingo Manahan. Two rooms, one superclub. It re-energized the night life of Eastwood City.

The same year, after Embassy SuperClub was shut down because of the stabbing incident at Embassy Cuisine, the club rebranded and reopened its doors to the public as Encore SuperClub. Today it remains the hottest club in the Metro. The legend of Embassy lives on.

In February 2010, replacing Temple Bar, together with nightlife staples, Marco De Guzman, Distillery’s Raj Sadhwani, Ivan Zalameda, Premier DJ Manolet Dario, GP Reyes,Izakaya Sake Bar was launched. The Japanese inspired sushi, sake, speakeasy chic talkbar drew Manila’s beautiful young crowd.

And the latest installment of Erik Cua’s Legacy, is Republiq SuperClub. Boasting a floor area of more than 13,000 square feet, the biggest club in the country today opened its doors to the party populate of Manila July 2010, once again continues to revolutionize Philippine clubbing.

His family is rich, but what’s amazing with him is he still made his own fortune and became so successful before the age of 30. Being business minded, hard working, supportive parents and starting out very young really paid off. There are numerous clubs in the Philippines, however they never last long. With Encore on its 5^th year in the business and still going strong, it shows that Erik’s business are made to last. The way he revolutionized clubbing would definitely make people remember him for a long time.- DE

P.S.

ITSMD - Icons That Shaped My Dreams.

This is a continuation of my preview blog ICONS THAT SHAPED MY DREAMS.

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Icons That Shaped My Dreams

Do you know what you want to happen to your life? If so, who are the people you would want to pattern your life to? It would be important to have a model you would follow in your track towards success. They would serve as your guide and mentor (even if you don’t talk to them personally). You should be able to capitalize the things they did right and learn from their failures. Their story is enough to inspire you to reach that level.

I don’t mind sharing my dreams to you. I have three major dreams by the way. It gets modified as I get older because I get it closer to reality. To start off, I’ve always wanted to be an entrepreneur, thus I took entrepreneurship in college. However, throughout college, no one helped me know what business I should be in. I was left alone thinking about it and was forced to work. But as it turns out, work made me revive my dreams and define it. So the very first dream I am trying to be a reality is to have a SuperClub. I already have a name for it, the design is in my head but I would let someone draw it for me, the place, the time of launch, the people involved and the theme are all planned. As the days go along, I’d have more details for it.

Then this dream will eventually lead me to real estate developing because I’ve always want to build buildings and huge parks. And again eventually lead me to joining the airline industry that I believe should have more airlines other than what we have right now. The evolution of my businesses would make my company a conglomerate. That would put me in the list of richest Filipinos alongside Henry Sy, Lucio Tan and other business magnate we have.

Next up is to become a digital marketer. This recently lit up in my head as I tried to do this and saw some potential to it. And because I am serious about taking this path, I will be studying digital marketing at Ateneo partnered with IMMAP for this diploma program. It made a lot of sense as I have been seeing the big shift of our generation – the social media revolution. I plan to create a site that would make Facebook and Twitter need my site.

Third but definitely not the least, is I’ve always wanted to become a DJ since 2005. Ever since I heard the song Pink Life by Gyskard, I got interested in House Music. Eventually I began to like Electro, Trance and Techno. So while this dream isn’t materializing to date, I just collected songs of these genres. I never get satisfied with the number of tracks I have because I know successful DJs have numerous tracks they can remember. And also I have a list of songs I would like to remix when I learn how to.

There you go! Those are my dreams! My upcoming blogs are about people who I idolize or who I am studying and sometimes copying. They are my role models. In each of my dreams, I have heroes that make me believe even more that it would manifest.

I always think that if they can, then so can I. There’s no such thing as very lucky. I have a very big dream, so I must pattern my work with people who made their own dream happen in a humongous way. My heroes would be my guide towards the right path. I listen to people who have great results over those who haven’t proven anything in this world. I’m doing all I can to make my dreams happen, you should too!

So who would guide me to my dreams? Who are the icons that shaped my dreams? Stay tuned. Next blogs would be about the people I idolize and would take me closer to my dreams. First to come up would be titled: ICONS THAT SHAPED MY DREAMS: (name of idol). Watch out! - DE

“You are a product of your environment. So choose the environment that will best develop you toward your objective. Analyze your life in terms of its environment. Are the things around you helping you toward success – or are they holding you back?” – William Clement Stone (1902-2002)

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Investment Linked Insurance Products

This is the continuation of my previous blog BANKS: The Only Option For Savings?

Investment linked products are Life Insurance tied up with an investment. This means that your investments are secured with life insurance coverage. And this has become the preferred choice of Filipinos over traditional life insurance nowadays because of its flexibility and value for money.

Investment linked products of life insurance companies caters yuppies, matured and even old people. There are also options for your risk appetite – low risk, medium risk, and high risk. Should your risk appetite change from time to time, it wouldn’t be a problem as you can switch funds or change death benefits. Your financial advisor should take care of the amount of the account and through assessment of your financial situation he should be able to recommend a plan perfect for you.

What is its feature?

• Flexible payment mode. Option of paying annually, semi-annually, and quarterly.
• Flexible payment years. You decide. Whether to pay regularly, only a few years, skip payments (premium holidays), or pay once.
• Withdrawal. Partial or whole. Just like the bank, you can withdraw.
• Deposit. If you want to deposit, you can do so. In this case it is called a top up.
• Very low cost of Life Insurance Coverage. It just takes 3 years to pay the coverage. On the 1^st year 100% of the premium goes to coverage, the 2^nd and 3^rd year only 50% goes to coverage and the other half goes to the investment. The succeeding years of payment (if any) will go to investment.
• Premium Holiday. You may opt not to pay as long as the insurance coverage will be covered by the fund.
• Death Benefit Option. You can switch anytime from level death benefit to increasing death benefit depending or back, depending on how important coverage would be in a certain situation of your life.
• Option of Funds. Balanced Fund which consists of equities around 30%, money market instruments around 10% and bonds around 60%. Equity Fund has around 10% money market instruments and the rest are equities. Bond Fund has around 5% money market instruments and the rest are bonds.
• Switching Funds. You are entitled to switch funds if you wish to do so. It’s just as simple as moving from Equity Fund to Balanced Fund.

So this is an investment? Yes an investment for your future. If you are trying to save up for the future this would probably be your best option.

This type of investment is a steal because while you are saving for the future, you are also covered. That surely beats savings in banks. When something happens to you, your family will get an amount plus the investments. In banks when something happens to you, it would be very hard to claim the account.

Think about it, from day one of your premium, you 20, 30, 40 thousand is already worth 400 thousand. Saving with this investment vehicle is the smartest thing to do right now. No matter how old you are, saving is always better to do NOW than later. And never forget that there is no such thing as instant growth of money, so before you get one, understand that this is a long term savings plan. This is an alternative to savings banks and you would be sure that your savings are protected with coverage. - DE

2nd photo: Taken from iStockPhoto, thus the watermark.

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BANKS: The Only Option For Savings?

Money is an object we as adults work hard for. It is a medium wherein we use to exchange for something that adds value to our life. Every people have different definition of what money is and what it is for – positive or negative or both. This allows us to have things that answer your basic needs and wants. The more money you have, the more you become comfortable mentally simply because you are assured that for the coming days your basic needs would be provided for. It really makes the world go round.

All our lives, rich or poor, educated or not, we work just to earn money. Poor people, as early as they can think, they are trained to make money in whatever way possible – begging, collecting and selling garbage, and sometimes committing crimes. For us educated people, we were trained for 16 years more or less from nursery to college also to make money. We specialize on a certain field which will turn out to be our career that would provide us high paying salaries or business earnings. At the end of our formal educating years, what do we do next? Yes, make money. Everyone does, except of course kids who don’t want to work because they have filthy rich parents.

Once we start earning money, we take care of our basic personal needs. Then when our salaries will eventually be bigger than our basic needs we now can afford things beyond our basic needs – shopping, travel, etc. But there will be a time, either right away or later, when you would realize that this wouldn’t go on forever. Thus, we start saving money for our future.

Before, saving money is very simple. Keep it in a safe place in your house which would make it very vulnerable or keep it in a bank. This traditional way of saving is still being used right now. Banks certainly bring a lot of convenience to us. Deposit in your account, and the bank would be the one to protect it. Need money? Withdraw using ATM or through the bank teller. This makes us love banks even more. But will your money ever grow with them? I don’t think so.

Savings account earns 1% minus tax. Time deposit earns you 3-5% minus tax depending on the amount of deposit. Our inflation rate sometimes reaches to 5%. TRANSLATION: Your money isn’t earning well in the bank or sometimes the value even depreciates. Not everybody understands this, but you should! Your hard earned money depreciates in value over time in the bank. What if 10 years or so of saving you still haven’t found an investment vehicle? Then your money just depreciated before your eyes.

Are there any other savings tools aside from banks? My answer could create different reactions: LIFE INSURANCE. How? Through investment linked products of Life Insurance. Yup Life Insurance today isn’t just about claiming a lump sum amount when somebody dies. You can use it as a savings tool that earns 6% or more.

This savings tool is a bargain because it gives you life insurance coverage for free. The moment you open an account, not only did you simply open an account, you also are covered immediately. How’s great is that for a savings account? And just like the bank, you can withdraw and deposit.

That right there is an alternative when it comes to savings. But I am not saying that you empty your bank account and move it to insurance companies. Your bank account should be for immediate cash need purposes and Life Insurance for long term savings purposes because it out grows inflation rate and earns way bigger than banks.

So my question to you is, do you just let your hard earned money depreciate like that in banks? Or do you let it grow for savings purposes until you have come up with an idea where to invest it? What’s your pick? - DE

P.S.

Do you have a better savings tool? Comment here or contact me! Should you want to know more about investment linked products of life insurance, you watch out for my coming blog about that it. It would be a simple explanation of what it is. But if you want to know about it in full details, you can contact me through email first. Cheers!

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Why Food Carts Worked

Food cart businesses boomed a couple of years back. A lot of people say how could franchisors saw it coming while we did not? Well I always hear that when we see new businesses. But why did food cart business boom in our country? And why did it happen so fast?

These businesses would usually be found in public places where foot traffic is heavy. These are small food stalls at the side of the streets, train stations, bus terminals and many more people heavy places. Two unhappy people manning the cart with the food they offer which are usually less than 10 kinds of products. Though they offer only a few items in each stall, a number of food cart side by side can be found. From siomai, to fried noodles, to quail eggs, to sisig, and to the newest I have seen which is the scramble (Filipino desert sold in the streets).

So why did this kind of business clicked?

SPECIALIZED ITEM

I say specialized item because usually a food cart revolves around one type of product like siomai. There are food carts that only sell siomai. Other stalls have added items like fried noodles or rice. This makes it easy for franchisors to sell their item to numerous people at a time and at the same time get their brand easily remembered.

PRICE

Food cart products are budget friendly. Usually priced at 50pesos or below, the price triggers the impulsiveness of people. People always think that few pesos wouldn’t hurt their budget anyway. And for a cheap price that could fill one’s stomach, it’s a sure hit in a country like ours.

FRANCHISING

Franchises have a system that clearly have worked, and a brand that already is known by public. Everything is provided for the investor – cart, use of name, equipment, access to commissary, trained employees. Since there have been increasing number of entrepreneur-wanna-bes in the country, franchising would be an easy and cheaper way of doing business. Investors just to give the money and everything would be provided to you including training how to run your own business.

CHINESE INFLUENCE

Since there are a lot of Chinese in the country, Filipinos learned to love Chinese food as well. Not only is it delicious, it’s also easy to make. Again budget friendly items especially food will surely attract Filipinos. Some of these foods that Filipinos got to love are Siopao and Siomai.

COMMISARRY

Having a commissary just saves food cart owners time, money and effort because there wouldn’t be a shortage of goods unless they screw up their own production. Having a steady stream of goods coming in with consistent quality, this gives franchisors more time to give effort on marketing and selling. This would create a huge gap to those planning to imitate a franchise business.

MARKETING STRATEGY

No matter how many franchisors are scams or just selling false promises, they get entrepreneur-wanna-bes to invest in their franchise business. Kudos to their marketing strategies! Call it well marketed or scam practices, it still worked. They make their presence felt in any media possible to get their target clients – internet, magazines, expos, and even sometimes giving fliers in public places.

POVERTY

It’s sad that the Philippines, a third world country, is rich in resources but the government just can’t seem to find a way to utilize it well in favor to our country. On the flip side, due to budget constraints, food carts somehow solve problems of poor citizens. This is a quick fix for a starving stomach.

After all those factors mentioned above, location and marketing would still be the biggest factor for any business success. For food carts, location played a very big part because these are low-cost products that would need people who suffer budget constraints. Marketing also is a big factor because this would get more investors to buy the franchise. More franchisee, the more stores in more locations there is.- DE

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SURESEATS: Cinema Tickets Online

Don’t you hate it when you go to movie theatres on premier night, only to see a barrage of people in line? Instead of everything happening as planned, it becomes a nightmare. This doesn’t not only happen on premier nights but drags all the way to its first week.

What if you can’t skip class of work to buy ticket on a weekday morning? Then you really have to rush all the way to the theatre after work. But then you just found out everybody was thinking what you’re thinking; everybody did what you did, rushed to the theatre ticket counter and wait in a very long time. This is very frustrating especially when you see Twitter and Facebook updates of friends saying the movie was the best movie ever. Doesn’t this just makes you wanna punch someone?

This always gets in my nerve, I hate waiting in a very long line without a guarantee I’d be able to buy a ticket because some cinema like Ayala Cinemas sell guaranteed seating. No more seats, no more tickets to be sold. You don’t get a ticket for the day? Better luck tomorrow. That’s how it goes.

But I wouldn’t let this thing happen over and over. I must find a solution to this. And I did! Behold SURESEATS.COM. This site allows you to check movie schedules from all Ayala Cinemas. But the best part is you can buy your ticket online for the same price minus the long queue line!

To get started, register to sureseats.com

One registered you have to purchase credits from Ayala cinema counters. I suggest you buy in thousands because the credits don’t expire until 6months. Don’t forget to get your credit code and ask for an M-Pass card.

Log on to you SURESEATS account and just load your account with the code given to you.

Then, purchase your tickets online with schedule and seat you desire!

Finally, print the ticket! It’s as good as the tickets bought in cinema counters. Present it directly to the cinema usher.

Kudos to Ayala Cinema! You’ve solved our problem! Now, guaranteed seats are just a click away!

Don’t let long lines ruin your well planned movie date! Register to SURESEATS now. - DE

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World Food Expo 2010

WHAT: World Food Expo 2010 “The Country’s Biggest & Most Effective Food Show”

WHEN: August 4-7, 2010

WHERE: SMX Convention Center & World Trade Center

Check out what ACTIVITIES to attend to.

For more information visit WOFEX 2010 Website.

Top culinary experts and scrumptious food awaits you. This would be a great show! See you there!- DE

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What You Need To Know Before Buying A Franchise

Any business franchise opportunities may seem to exciting when you first see it especially in franchise expos where franchisors need to make their business look very nice. Upon seeing how their business looks like, our emotions get high and we get excited to acquire one. However, we shouldn’t be rushing when it comes to business. Take time to know everything about the business you’re about to get in to. Rather than regretting in the end, study everything about the business you want to purchase.

Questions to ask to the franchisor directly are:

1. How long have you been in this business?
2. How long have you made your business available for franchising?
3. How many franchise stores do you have? How many of them are owned by the original franchiser?
4. Can I buy an existing corporate-owned store instead of building one from scratch?
5. Can your business be duplicated including quality and service?
6. How much is the initial franchise fee and what does it include?
7. Is the franchise brand name registered with the Intellectually Property Office of the Dept. of Trade and Industry?
8. Does the franchise have a logo a brand name, and logo-text?
9. What are the control systems that the franchise has in place? (such as a central commissary, secret ingredients and operation manual, accounting systems, etc)
10. What kind of pre-opening support do I get?
11. When the business is operating, what kind of support do I get on a continuing basis?
12. Can I spend a week observing an actual franchise operating?
13. Do I have exclusive territorial rights?
14. How much do I have to spend for my store’s construction and initial inventory?
15. Where do I buy succeeding inventory supplies?
16. Would succeeding inventory supplies be delivered? How much would it cost?
17. Do I have to buy my inventory exclusively from you (the franchiser) or can I procure them elsewhere?
18. Can I return merchandize (inventory) for credit?
19. How much do I have to pay you in royalties when my franchise is already operational?
20. Is the royalty fee based on my store’s gross sales or based on my purchases from the franchiser?
21. How much are you going to charge for joint advertising fees? What kind of advertising and marketing programs do you have?
22. In your corporate stores, how much are you making per store? Can I see your financial statements for that store’s operations?
23. Give me a list of your other franchise holders whom I can talk with about the business.
24. Has any of your franchise holders defaulted or closed shop? Who are they (names and phone numbers) and what were their reasons for their defaulting or closing?
25. Can I have a copy of your franchise agreement for my review?
26. By how much can I deviate from the franchise agreement concerning products I can sell in my store?
27. How long is the duration of franchise agreement? Is it renewable and what are the renewal rates?
28. Are there penalties if I withdraw earlier from the franchise?
29. If I decide to buy another franchise from you, do I get a discount?
30. If I recommend another franchise holder, do I get a referral fee?
31. Can I change the location of my franchise store (at my cost) if the present one is not viable? Are there any additional fees to pay for the change in location?

Once this checklist is accomplished, weigh the pros and cons. Think of what you can do to compliment the cons and how you could flourish with the pros. Sometimes a business is too good but you may not be ready for it. If you can’t see yourself doing the business with the information you gathered, it would be best to look for something else.

Franchises are presented the best way you can imagine to entice entrepreneurs to buy their business as soon as possible. It would be wise to let the emotions subside and study the business before you decide. Good luck with your venture!- DE

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The Digital Ripple

Print ads, banners, billboards, posters and traditional advertising no more! Digital Marketing culture in the Philippines is set to take off in the near future and the group that would make this happen is the Internet and Mobile Marketing Association of the Philippines (IMMAP). IMMAP is an association built to utilize the internet and mobile advertising opportunities in the country. Every individual that is into digital marketing shouldn’t miss the 4^th Internet and Mobile Marketing Summit 2010 named THE DIGITAL RIPPLE.

This will be a 2 day summit on August 19-20, 2010 at the SMX Convention Center, Mall of Asia, Manila, Philippines. Digital Entrepreneurs, executives, and highly successful bloggers would speak in this summit to share more about the booming industry – from how internet and mobile marketing works, to the trends, to the detailed techniques that would make digital marketing work for you and for clients.

The best of the best digital marketers in Southeast Asia would be here including my idol bloggerAbe Olandres (YugaTech.com) would be there in the panel discussion. This would be a perfect opportunity for engage with digital marketing experts.

This just excites me because I can’t decide whether to take Creative Media Management in Entrepreneurs School of Asia or take the Digital Marketing Diploma Program of IMMAP partnered with Ateneo. Having known that my former professor was the co-founder of IMMAP and another former professor is a faculty member of Digital Marketing Diploma Program, Ramon Duremdes and Joel Yuvienco, this just solidifies my choice for Ateneo Business School. I won’t miss this opportunity to learn and to start riding the wave of a culture on the rise.- DE

I’m going! Are you?

The Digital Ripple Website

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Speakers

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