(UPDATE) Thinking of franchising your business?

UPDATE: Editor's note: Added video taken by INQUIRER.net business editor Ma. Salve Duplito. COMTEQ COMPUTER & Business College is one growing enterprise in the Subic Bay Freeport Zone. Started in 1990 as an institution offering computer literacy courses to high school students, it has now become a full college offering bachelor’s degree courses in Computer Science, Information Technology, Accountancy, and Business Administration. It also offers shorter two- and three-year courses in computer programming, animation, and electronics technology, among others. Hundreds of students now go to Comteq wanting to be equipped with the technological know-how needed in the marketplace. What attracts the students to Comteq is the school’s strong on-the-job (OJT) training program and affordable tuition fees. “We want our graduates na may alam na paglabas [ng school] because of OJT,” says John Bayarong, Comteq’s dean. In fact, students have already done websites for organizations. The students have also been joining competitions and have in fact won in some contests already. Here's a video taken by INQUIRER.net business editor Ma. Salve Duplito. Bayarong and Ausbert Joaquin of Comteq Computer & Business College listen with Allan Cruz of Business Mentors Inc. to mentor Willy Arcilla (not in video) as Arcilla advises strengthening Comteq's hold in the market first before venturing into franchising. Because of the projected increase in enrollees, Comteq, a non-stock, nonprofit company, wants to expand the business, either by franchising it or by inviting new investors. They also want to bring the concept to other areas of the country and have Comteq campuses there. They have seen the concept work and know that it will help a lot of students. John says they have the business model but there are still some areas that need fixing. For instance, Comteq does not have a marketing officer. The recruitment of human resources also needs to be improved as they just get fresh people internally; they know that people with external experience will bring a lot of needed insight to the company. Mentor Arcilla suggests focusing on strengthening Comteq as a company first. “Ayusin muna ang operations to be able to franchise later,” he says. Once Comteq’s operations are problem-free, Willy says the people will be the one to go to them to ask for a franchise. "Make Comteq the leading computer and technical school for the masa first." Here are Willy’s other recommendations: 1. Make the mission and vision sharper and clearer. 2. Fix the operations bug. Recruit more highly qualified staff. 3. Go aggressive in marketing. Go on campus tours and target the best students in high school. Take part in symposia to let more students to know about Comteq. 4. Rebrand the OJT program as “Comteq Incubation Lab” or something like that. For every website done by students for organizations, brand this as “Powered by Comteq Incubation Lab.” This is a marketing strategy. 5. Make a business plan. 6. Look into availing of educational grants or fund assistance. Franchising is a fast way of getting the needed funds to expand a business. But there’s a right time and a right way to do it. Let’s follow Comteq’s actions in the coming months and see if they’re on the right track.