Opportunities in the Philippines

Reality check first. The Philippines is said to still belong to the third world countries. Why did I point that out? It's wise to note that if you have seen a very successful fancy restaurant in the western world and try to bring it here and expect that it will do the same, even if you have the best chef. You're in trouble. Because statistically, only 10 percent of the population will afford your restaurant and believe me competition is cut-throat. I'd like you to feel of what's happening, I mean go to the malls(by the way, filipinos' love going to the malls) in Makati, Alabang, the Fort, Libis, Ortigas, Mandaluyong and all those places with high volume of people. You'll see most people are lined up in the counters of top fast food chains. Would you like to make a wild guess? Beacuse most of the people feel it's more affordable and the food is fairly good for the price and great value for their money's worth. In other term, correctly priced. Then turn to your fancy restaurant. Yes, there are people just enough to keep you in the business and your menus are priced just a little above the fast food chains because you did a market study but greatly has more value for money and yet you have low volume of customers. It's very ironic. Its also good to note that an average filipino is making about P350 to about P500 or US$7 to US$10 per day. I won't comment on that. Maybe that's a hint...I'll get back to franchising next time. I'm just giving a bird's view point.