| The Franchisee as an Entrepreneur: Lessons from Aquabest |
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Entrepreneurs are probably the world’s biggest risk takers. Each day, as they look out for opportunities for the next growth area, they are making a calculated risk. They put a lot of time and effort into their businesses, making sure that these would take off. If they do, then they are able to realize profits and build business and employment opportunities for others as well. Franchisors pretty much do the same. They look for gaps in the market and then build a business. If they are successful, then they allow other entrepreneurs to replicate their business. In a real sense, they are guiding entrepreneurs so that they, too, may be able to realize profits, grow their businesses, and create employment for more people. The story of Carson Tan, Aquabest president, captures an entrepreneur’s journey toward finding the right business. For a long time, Tan struggled to find the right business for him, experiencing so many ups and downs along the way. In 1997, he and his friends opened a water refilling station along Matalino Street in Quezon City along with friends. He was just a silent partner then. Aquabest went through birth pains. People did not buy bottled water then, but Tan persisted in educating the market. As people recognized the value of buying purified water, his business started to improve. Eager to help other entrepreneurs and save them from the troubles that he encountered, Tan offered the business concept to interested businessmen who believed in the potentials of Aquabest. The company was among the first to offer the water-refilling concept and as water supply became a problem, more people became interested in Aquabest. Today, there are over 400 Aquabest franchisees and 600 water-refilling stations in almost every city nationwide. Times were not always easy for Aquabest. At one point, Tan realized that the company was mismanaged. He had to buy out his partners and assume full management control. He also found that he was being defrauded by some of his staff so had to fire many of his people. But Tan did not allow this to overwhelm him. He was able to rescue Aquabest later on and save its relationship with franchisees. Because of Tan’s commitment to the business and his franchisees, Aquabest continues to perform very well despite stiff competition. Aquabest continues to find ways to make the business efficient for its franchisees while delivering the best services to the public. The company recently introduced the combo store concept that houses two franchised business—Aquabest and Laundrybest. This way, the franchisee is able to offer two different products and services to the same customer base. Global Quality Waters and Environmental Solution Inc., Aquabest’s mother company, has received an ISO 9001: 2000 certification from Bureau Veritas. This was awarded in recognition of the company’s compliance with quality process standards and effective quality management. Aquabest was also named as Best Local Franchise for four consecutive years, Fastest Growing Franchise and Most Promising Franchise for the year 2009 by Entrepreneur Magazine Philippines. The company has also started producing its own bottled water under its own brand, Aquabest Premium. It has secured the Bureau of Food and Drug permit for its Aquabest Premium bottled water and is ready to launch the product through major distribution channels. Through all this, Carson never falters in helping out Aquabest franchisees and continues to reach out to them as they walk down the sometimes rocky road that is entrepreneurship. The Manila Times and the Association of Filipino Franchisers Inc. are partners in entrepreneurship. |
