MANILA, Philippines - Born to a poor family in Maguindanao, Jojo Macua has always worked hard to reach his ultimate ambition to become rich one day.
With sheer determination, he earned a degree in Economics from UP, and was eventually employed as a medical sales representative by a multinational pharmaceutical company.
Later, Macua decided to become his own boss. So he retired from corporate life and dabbled in several small businesses — food cart, Internet shop, multilevel marketing/networking — but all with lukewarm results.
Macua’s life, however, took a surprising turn when his wife Wondy left for Japan to pursue graduate studies in Economics at the University of Tsukuba under a World Bank grant.
“It was a risk when I left the country. I took on multiple jobs — as assistant language teacher in a public high school, a factory worker in a photocopying company, as part-time worker in a noodle factory and tutor,” says Macua. “I was motivated by the thought that the only way for me to become rich was to have enough seed money for business.”
Despite having his hands full, Macua found time to share his financial skills with his kababayans in Japan, giving them free lectures on financial literacy.
Organized by the Association of Filipino Scholars in Tsukuba, the sessions were held in an expat’s house attended by Pinoy scholars, English teachers and research scientists working in that area.
“Most of them are hungry for seminars about savings and investments because they are clueless about what to do with their money,” recalls Macua.
In the past, the Philippine Embassy in Tokyo, in cooperation with the Department of Trade and Industry (DTI), held seminars on entrepreneurship for OFWs. Macua and other Pinoys in Japan reinforced these efforts by holding their own financial literacy sessions.
“All our kababayans want is to go home with a stable egg nest, hopefully with a business that would sustain them after retirement. The aspect that they most interested in is franchising, which is one of the easiest and safest ways to invest your money on a business,” Macua says.
A Bangko Sentral ng Pilipinas (BSP) Consumer Expectations Survey (CES) noted an increase of 7.2 percent in the investment allocation of families with relatives abroad compared to 5.8 percent of the previous quarter.
However, the same survey showed that among households that allocated portions of their remittances to savings declined by 12.4 percent second quarter from 50.4 percent in the first quarter.
OFW households utilize their remittances for food, educations, medical expenses, debt payments, and savings, according to the CES.
Macua himself was looking for a business that he could devote his time and effort to. With his background in the pharmaceutical industry, he became interested in The Generic Pharmacy (TGP), a new player in the franchise game. The huge potential of affordable and quality medicines gave him the much needed shot in the arm. In April 2008, Jojo opened his first TGP branch in Tondo, Manila. He actually practiced what he preached among the OFWs in Japan.
“I am still working hard to achieve my dream but my family can now enjoy life’s comforts that were not possible before,” prides Jojo who now has eight franchise branches and has become one of TGP’s most successful franchisees.
Despite his hectic schedule Jojo plays his favorite role with gusto: doting father to their only child. In his spare time, he and his family spend some quiet time together at home. In the future, Jojo hopes to train his child to manage their business. “I work hard to ensure that our child does not go through the same hardships as I have. I am sure that aspiration is shared by Pinoy OFW parents all over the world,” he says.
Jojo hopes to grab as much opportunity by expanding his business. More than monetary rewards, however, it’s being of service to others that keeps him most motivated.
“I constantly remind myself that this business is not just about making a profit but also a way of providing the poor access to affordable and quality medicines.”
The Philippine Franchise Association is set to stage the biggest franchise show in the ASEAN region on July 14 – 18 at the SMX Convention Center Manila. To know more about the event, visit www.franchise2010.com and register on-line for special admission rates. Other details can be obtained from the PFA Secretariat at tel. nos. (02) 6870365 to 67, 09178320731, or e-mail pfa@pfa.org.ph. For more information on the Expo, call the exhibit management team Global Link MP Events at (02) 750-8588 or e-mail franchise@globallinkmp.com.