The Department of Foreign Affairs (DFA) and the Department of Trade and Industry (DTI) have issued a warning to Overseas Filipino Workers against franchising scams.
According to the public advisory:
The DTI specifically identified the following companies and individual as bogus franchisors:
- Fran.con Franchise Marketing and Consultancy, Inc.
- Hamoraon Business Specialist Inc.
- Michelle Ann Pacubas-Chan (single proprietor)
For verification of legitimate franchisors, the DTI advises overseas Filipinos to contact the DTI Direct Hotline 751-3330 or the Franchising Associations and other relevant government agencies.
The DTI said it receives numerous complaints from victims of franchising scams, especially from OFWs.
Last March 23, the government agency held a dialogue with the Department of Labor and Employment, the Securities and Exchange Commission, the Overseas Workers Welfare Administration, the Philippine Overseas Employment Agency, Franchising Associations, and a number of complainants to assist and resolve the concerns of OFWs who would like to venture into the franchising business.
One of the measures agreed to address the issue is to conduct an intensive information campaign to alert and warn the public, especially OFWs, against bogus or fake franchisors.
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