Franchising: Sturdy ship in a rough sea

FRANCHISE OWNERS are awfully smug these days. While dismayed stockholders watch the red figures crawl on the ticker tape, entrepreneurs behind food kiosks and restaurant chains boast of maintaining control over their investments and even growing their businesses in these tough times.

"We're looking at opening 20 more stores ," Rommel T. Juan, president of Filipino fast food chain Binalot, said in a telephone interview. "We're going into dine-in restaurants."

Franchising is especially apt in this economic turmoil, said Mr. Juan, who is also the president of the Association of Filipino Franchisers, Inc. (AFFI).