Many Filipinos seek the need for access towards services provided by the bank like managing payment of bills, receiving or sending money, and other transactions made electronically; However, there is still a huge number of Filipinos who lacks possession of a bank account, which makes local and international padala centers like Cebuana Lhuillier an ideal substitution to have access to the aforementioned services.
The increase of demand for business concepts similar to Cebuana Lhuillier grew together with the growth of Philippine’s population, thus making padala/bayad center as an ideal franchise of choice.
Read further below to find out if you can franchise Cebuana Lhuillier and the type of services they provide.
About Cebuana Lhuillier
Agencia Cebuana had its first store in Cebu in 1953, and later adopted the tradename Cebuana Lhuillier in 1987; a year after gaining its tradename, Cebuana Lhuillier formally established itself in 1988 as a business who help deals with financial services and ever since they continue to lead Philippine’s pawning, remittance, and microinsurance industry.
So far, Cebuana Lhuillier has grown to over 2,500 branches nationwide and continues to grow through following the mission and vision they had implemented which helped them prosper in the business.
Cebuana Lhuillier Franchise: Is it a possibility?
Despite many entrepreneurs looking for the opportunity to franchise Cebuana Lhuillier, they are still not accepting any application for franchising the business.
Services Cebuana Lhuillier provides
Pawning. Cebuana Lhuillier accepts an array of items for pawning extending from precious stones like golds, diamonds to non-jewelry items such as laptops and cell phones.
Remittance. Transferring money is accessible both for national and international accounts; The remittance service is also processed in real time, making it quick and easy to receive and send money.
Micro Insurance. Choose from the selection of insurance products catered to depending on an individuals status (Student, individual, group, Security, Employee)
Micro loans. As of writing, this service is undergoing an upgrade.
Bank. You can ask for a loan according to your needs, set up a time deposit or a savings account.
Institutional Services. While you can’t franchise Cebuana Lhuillier, they are currently offering a partnership with businesses to help with the growth and cash management.
24k Rewards Program. Becoming a part of this program entails exclusive privileges, discounts, freebies, and special services for every transaction made to any branches nationwide.
Foreign Exchange. Services of Cebuana Lhuillier is also available through selected international branches.
Bills Payment. You can also process your bills to pay in Cebuana.
E-Load. Loading station to recharge your prepaid load.
Perapal. Have the ability to shop online without credit cards or ATM by processing your payment to Cebuana Lhuillier branches.
Top up. Catering to online gamers to give the capability to purchase credit for Level up! And other e-game accounts.
Corporate Payout– Cebuana Lhuillier may help with the monthly payment service, monetary bonus/incentives, money distribution and other corporate disbursements.
Collection Services– Advisable for businesses associated with the distributing and collecting fees.
The benefits and downside of padala centers
Padala centers like Cebuana Lhuillier have a guaranteed flow of customers if placed strategically on near or within residential and commercial areas. The downside with this type of franchise is the contract renewal fee that comes depending on the term of the agreement; however, as mentioned earlier, due to the constant flow of patrons padala centers are guaranteed to give immediate profit payback.
As padala centers are naturally in demand with the right management and careful planning of business location, accumulating profit will naturally come.