National Book Store, which has more than 230 stores in the Philippines, is beginning a franchise program, the Business Mirror reported. The franchise will be called NBS Express, or NBEX, a convenience store format that the company originally opened in and around Manila. It has since expanded NBEX stores to other parts of the country.
NBS group managing director Alexandra Ramos-Padilla said that franchisees would need to invest an initial amount of 450,000 pisos (about $8,445) and that the total capital requirement is 6 million pisos ($112,610). The required space must be at least 150 square meters (about 1,615 square feet). Franchisees will pay a royalty of 1% of gross sales.
The franchise fee will include use of trademark, a procurement program, opening assistance, site approval, use of operating manual, research and development and training for franchisee and staff. Through the program, Ramos-Padilla said, NBEX franchisees become part of an "accessible chain of bookstores bringing a functional selection of books, schools and office supplies and fast-lifestyle commodities for students and small business owners who have a dynamic way of living."