Bayad Center Franchise: Costs, Fees and How to Start One
Time is Gold. This is a famous quotation and indeed holds true and is very applicable especially to busy individuals nowadays. In this fast paced life, one has to look for convenience in everything that he or she does and this includes being in a place where you can simultaneously perform tasks that addresses very basic needs. This includes money matters such as monthly bills to pay and even remittances which are now considered as a basic need to fulfill. To whichever status you may belong in society, one of these is your monthly itinerary. To answer all of these (monthly) household concerns, Bayad Center was born to conveniently make way to make life easy especially for Filipinos.
Bayad Center which is a sister company of the Manila Electric Company (MERALCO) plays in the Outsourced Payment Collection Industry. It pioneered the concept of providing convenience when it comes to bills payment collection. The company started in 1997 and was known as the Payment Collection Service, a division of Corporate Information Solutions, Inc. or CIS. Then in 2006 it became CIS Bayad Center, Inc. In the vision that they want to be accessible to all parts of the country, CBCI ventured into franchising. The success of the company then started as many awards have been given to acknowledge its noble way of doing business. Today, Bayad Center is the leader in the over the counter multiple bills payment collection business providing convenience to all Filipino families. It provides services in almost all sectors including utilities, government service, telecommunications, cable TV, internet insurance, pre-need, healthcare, transportation, electronic wallet, credit card, real estate, financial services, arts & entertainment, columbary, memorial park, and charities.
Bayad Center Services
The company offers and accepts three major services to its clients. These are (1) Remittance Pay-out. This means that if you have funds from abroad deposited through partner banks, you can pick it up conveniently at any Bayad Center outlets without hassle and worries. (2) Business Center Services. This is where you can process any consumer applications such as credit cards to loans with a long list from partner banks. Loading services are also made available with any networks. (3) Bills Payment. This is the where convenience is clearly depicted as the list goes on. From tuition fee payments to real estates and even entertainment, name it, they have it all.
Franchise Details: Franchise Fees, and Costs of Perating a Bayad Center Franchise in the Philippines
For interested entrepreneurs who would like to venture into offering a unique kind of business such as a Bayad Center outlet. Here are some important franchise information. Franchise Fee is P350,00.00 (exclusive of 12% VAT) with a term of five (5) years. Equipments needed for the outlet is estimated to be around P120,000.00 and renovation cost is around P130,000.00. There is a cash bond amounting to P600,00.00. The needed floor space is 15 square meters (minimum). The return on investment is projected to be around two (2) years. In summary, the total investment cost is approximately P1.2 Million pesos.
How Do I Earn in This Kind of Business?
Simple, for every transaction, the franchisee earns the following:
This means that franchises earn service fees from every payment transaction, thus if the location of the center is very accessible, high traffic and has flexible business hours, it’s a guarantee that profit will surely rise. Also, if the franchisee has already an existing business, adding Bayad Center services will attract more customers and will even ensure loyalty with you.
Steps on How to Become a Bayad Center Franchise
Below are the steps you need to do if interested to franchise a Bayad Center in your area: