Author: Pau Canua

Seaoil lauded in Asean Business Awards

SEAOIL Philippines was cited by the Asean Business Awards (ABA) for outstanding performance and presence in the Asean Economic Community Priority Integration Sector-Energy.

Seaoil Philippines CEO Glenn Yu recently accepted the award during ABA awarding ceremonies in Singapore.

Seaoil fulfilled all of the awards’ eligibility requirements, as well as distinguishing itself for its integration and connectivity among Asean businesses.

“Backed by 40 years of excellence as one of the largest Filipino companies providing high-quality petroleum products, Seaoil Philippines definitely deserves the recognition from the Asean Business Awards. We congratulate the longtime supporter and advocacy partner of Go Negosyo, Glenn Yu and Seaoil Philippines for winning the award under the Priority Integration Sector for Energy category,” said Joey Concepcion, chairman of the Asean Business Advisory Council Philippines.

The Asean-BAC selects a strategic partner every year to ensure the quality and independency of the awards. Global professional services firm EY served as this year’s partner and aided in the shortlisting of nominees, criteria-setting, selection of judges and implementation of the ABA framework.

ABA has recognized over 100 companies in the Asean since its inception in 2007 for excellence in the following categories: growth, employment, innovation and corporate social responsibility. ABA added the Priority Integration Sectors category of the awards in 2015.

The Philippines had over 100 ABA aspirants this year. The country won 8 out of the 21 awards.

Seaoil is the leading independent fuel provider in the Philippines with over 400 retail stations and a network of supply depots strategically placed throughout the country.

 

*this article was copied and originally published in BusinessMirror last Dec 13, 2018 and can be also found at https://businessmirror.com.ph/seaoil-lauded-in-asean-business-awards/

FamilyMart Glorietta 3 reopens with new look

The first Philippine branch of Japanese convenience store FamilyMart has recently reopened with new store design and upgraded food selection.

The newly reopened store in Glorietta 3 features an upgraded and modern design, as well as a bigger and café-inspired dining space. Customers enjoy bright and airy ambience as they shop for everyday essentials, then sit back and take in the comfortable space and friendly service when they grab their meals.

FM - Glorietta 3 relaunch
Customers grab a serving of FamilyMart’s new Twirl-All-You-Can flavor, Kesong Puti Sansrival.

In addition to Filipino breakfast favorites, merienda treats, fully loaded meals, and classic Japanese treat, the new store offers some yummy delights: Japan’s best-selling Fami Chicky, a freshly fried, thick and crispy chicken fillet; and Hotdawgs—warm, fully-loaded hotdog sandwiches available in six different flavors.

FM - Glorietta 3 relaunch
FamilyMart Glorietta 3 boasts a new and spacious store design, with bigger and cafe-inspired dining space.

FM - Glorietta 3 relaunch

Their staff uniforms were also upgraded to match the brand new look and feel of the store. The new uniforms were designed by renowned Filipino fashion stalwart Rajo Laurel.

“With this new and improved branch, we’re making sure that FamilyMart stays at the top of its game, giving young professionals exactly what they want and need,” said FamilyMart general manager Roald Yap.

 

*this article was copied and originally published in Manila Standard  last Nov. 15, 2018 and can also be found at http://manilastandard.net/lifestyle/food/280246/familymart-glorietta-3-reopens-with-new-look.html

Young entrepreneur making a big splash

By Bernie Cahiles-Magkilat

Gone are the days when entrepreneurship was like the confines of the older, wiser and more seasoned people. This time, young and old alike are venturing into business may it be backyard, digital or just a simple garage-based endeavors.

With technology, the younger ones are getting more aggressive and smarter in the way they do business. They are also very creative and innovative in their thinking and in their approach to business.

The company

Incorporated in 2016, Citrus Zone Group, Inc. (CZGI) was created to respond to the concept of healthy living. With the onset of fast food, and junk foods. Citrus Zone aims to promote healthier options by offering fresh, natural food selections.

The venture was made possible with three regular office workers from different companies as they network for their respective firms since 2011.

Joana Dalmacio, 30, a hotel management graduate is now in-charge of operations, and Claire Mosquera, 29, a food tech, now handles finance. Don came from a logistics company and is just 31 years old. They are pretty young and were just in their 20’s when they started the business.

As they developed friendships, they came up with an idea to go into business in 2015 focusing on healthy drink because they were also trying to lose weight. At that time, lemon water was the craze in town with everybody drinking water soaked with lemon from their own homes. Lemon water was served in every hotel and even pure water was served with lemon-scent.

“We asked ourselves why not make that our own as our side business, a sideline that most regular corporate employees do to augment meager salaries?” says Don. But they tweaked their offerings as they added additives like honey, cayenne pepper, mint, ginger, cucumber, tea-based apple cinnamon concentrates, among others. With an initial investment of P450,000 they were able to operate in Megamall and attained ROI in three months.

“The reception was very good, it clicked because the idea of lemonade latched onto people,” says Don. Lemonade had the connotation of being for the upscale and pricey, but they made it accessible and affordable.

They charge P15 per add on for the flavors. Their additives are mostly imported although some are locally sourced.

“People find it new, healthy and affordable because we have a basic drink for P39 only,” he adds. Citrus Zone serves their concoction hot when the weather is cold and cold during warm days.

At first, they tried local lemons but they were not suitable for juicing. So, they now import from 5 different locations worldwide – US, Australia, South Africa, Argentina and even Egypt.

Citrus Zone Refreshment envisions to promote healthier lifestyle by providing freshly-pressed lemon-based juices that are delicious, nutritious, affordable and accessible to all.

Given their popularity, the country’s biggest supermarkets and malls offer them spaces. Rental for a 4-sqm kiosk was P35,000 a month or 15 percent of sales, whichever is higher. It is lucrative for mall because there are times that Citrus Zone could pay as much P90,000 to P100,000 a month to the space retailer.

“So, the mall owner is very happy that they offer us space in every location they have,” adds Don.

With limited capital, the group decided to franchise, which was overwhelmingly received by their loyal customers. They launched the franchise in 2016.

Citrus Zone franchise is being offered for P290,000 for a kiosk, including a franchise fee, cart, training, equipment including juicer, and initial inventory.

If it is any indication that the lemon business is really going big time, Citrus Zone receives deliveries of 250 to 300 boxes of lemons a day. They are able to get it at lower price because they tap a consolidator, which sources lemons in a country when the fruit is in season.

“When we started we only had one competitor but they use sugar syrup and that sets us apart from them,” adds Don, who graduated magna cum laude with a Psychology degree from the Our Lady of Fatima University.

Expansion

In just a matter of 3 years, Citrus Zone grew to a phenomenal 80 plus outlets nationwide in carts, kiosks and inline store formats. With the help of Francorp Philippines, the country’s premier institution in building corporate franchise systems, there are now more than 60 Citrus Zone franchise outlets.

Its flagship store is located in Megamall. Majority, or 90 percent, of the big outlets are in the malls. Its biggest outlet is a 15-square meter store in Southwoods, Binan.

Entrepreneurs are lining up because Citrus Zone has an average ROI of 7-9 months although most attained ROI in less than 7 months. They have 4 locations in Cebu and 3 in Iloilo.

Aside from Citrus Zone, the three friends are now introducing locally a new way of drinking orange fruit. The group has gotten a master franchise for Guri Guri. Established in 2014 in Japan, Guri Guri is a fresh concept that allows juicing fruits from the inside. No additives. No preservatives, just fresh orange fruit served fresh off the pulp!

With a specialized machine patented under Guri Guri, this unique juicing mechanism allows for a different fresh fruit beverage experience to clients around the globe. The juicing equipment is patented, hence it is protected from intellectual property infringers.

“So, it is hard to fabricate the equipment plus we believe in the value of the brand,” he adds.
Hailing from the Nagano Prefecture, Guri Guri is present in major cities and tourist spots in Japan. Since Guri Guri requires big seedless oranges, the group sources seedless oranges from Australia and Argentina.

Don said that when they saw Guri Guri in Japan they were attracted by its fresh concept of drinking oranges. “So, we bought the master franchise and now we have three stores in three malls in Metro Manila,” says Don.

“We want Filipinos to get the same experience in Japan, which now has 2,500 Guri Guri stores and people flock to them because they are very health conscious,” he adds. Profit-wise Guri Guri has better margins than the lemons because it is just pure orange no additives and economical, there is no other packaging, just the fruit itself.

Its franchise is good for three years and renewable thereafter at a much lower renewal fee.

One good thing about the fruit business is it is actually very environment friendly. “We actually sell the lemon skin in Divisoria and which in turn are used for fragrances and scents and some into tea,” says Don. Both drinks are using biodegradable straws only.

“More than that our drinks are a great source of vitamins and minerals. Lemon is full pack of Vitamin C minerals plus fiber,” says Don.

“Citrus and Guri Guri are of different concepts, but we are happy that we are experiencing the same success with our franchisees,” he adds.

There are also other fruits like Dragon Fruits that can be tapped for Guri Guri, not just oranges as they add more drink varieties. In addition, they have started offering bread sticks and regular bread toasts.

Notably, students and young professionals account for 60 percent of total customers although their drinks cater across A-D markets. They have also identified locations such as schools, office building and even fitness centers as good location for Citrus Zone and Guri Guri.

Revisit

According to Don, when they started with Francorp they were only looking at 100 stores in five years, but they made 80 stores in just two years.

“That means we have to revisit our plan because there are many interested would be entrepreneurs queueing up for franchises,” says Don as they now look at 350 stores in five years.

The medium-term outlook also points to the opening of more inline stores and perhaps a full concept Citrus Zone and a full restaurant where they can bring all their brands together into a one stop shop for healthy drinks.

The prospect is even getting more exciting as more people are getting health conscious and the education department is ensuring that schools and nearby establishments do not sell sugary foods to students as they encourage healthier options for the young ones.

“We are bridging the gap by providing natural, healthy and affordable food,” says Don.

These three young entrepreneurs now directly employ 25 equally young people of 21-35 age range.
No, they don’t get workers from employment agencies although some office functions like accounting are being outsourced. Their payroll complement excludes those of their franchise stores. A store is manned by one or two people depending on size and traffic, but the malls must have two shifts.

“We don’t discriminate because these are simple skills, what we need are hardworking people, even our franchise supervisor is not a college graduate,” says Don, who also credits a store’s success to the staff. Don has encouraged his staff to own their tasks and the business because that is how a venture grows.

These young entrepreneurs do not micro manage. “We just give them the big picture, the standard operating procedure, and we want them to do well, so we do it together,” says Don stressing to his people that a staff just cannot remain a store crew forever. “We want to change their mindset by telling them that ‘if you’re going to be with us, you have to grow with us,’” says Don.

So, Don has pulled people from their comfort zones to do audits to ensure they are progressing in their work. At least 70 percent of their staff have not finished college but have been pushed to complete their studies while working with them.

This training and constant upskilling is in preparation for the company’s long-term goals as the triumvirate sees more potential for their partnerships to conquer new concepts.

Friendship

The three friends love to travel together here and abroad where they explore and study new business concepts. Don’s free time is preoccupied with his master’s degree studies and his dog.
As a young manager, Don looks up to Jollibee as worth all the emulation for a successful Filipino brand. He also loves Potato Corner for making a name overseas.

As such, the three friends are not just looking at the local market, but believe they have a future overseas. Guri Guri has yet to make a full blast presence in the region and they are now in discussion with some inquiries from ASEAN countries.

“We have plans to go overseas for Guri Guri and perhaps Citrus Zone with possible partners,” says Don adding they also have inquiries from the Middle East although “we are treading very carefully because we don’t know halal.” Malaysia and Australia have also invited them to try its local market.

Don said there is still so much to learn and they will continue to lean on Francorp for guidance and to ensure they have legal cover.

Aside from getting free lemon and orange drinks, Don said they now live more comfortably than when they were yet mere corporate employees.

“We now call the shots and able to help people go into entrepreneurship through our very affordable franchise and we are happy with our franchises because they are really doing well and our customers are happy with us too,” he concludes.

The lemon business is going sweeter.

 

*this article was copied and originally published in Manila Bulletin  last Oct 18, 2018 and can also be found at https://business.mb.com.ph/2018/10/16/young-entrepreneur-making-a-big-splash/

New stores push Max’s earnings 32% higher

MAX’S GROUP, Inc. (MGI) delivered a 32% profit increase to P118.5 million from July to September, as the company focused on improving productivity amid price pressures on raw materials.

On a nine-month basis, the casual dining restaurant operator’s net income reached P450.6 million, seven percent higher year-on-year.

System-wide sales went up by nine percent to P13.8 billion in the nine months ending September, on the back of same-store sales growth of 4%.

“We managed to extend our momentum from the second quarter into the subsequent period by centering on improving productivity measures and operational performance across the business,” MGI President and Chief Executive Officer Robert F. Trota said in a statement. “We plan to carry a similar mindset and at the same time ramp up new store openings ushering into the Christmas season.”

Restaurant sales went up by nine percent to P8.3 billion, as the company opened 38 new stores during the period. The new stores are equally split between company-owned and franchised formats. With this, franchising income grew by 24% to P535.2 million.

MGI ended September with a total of 681 stores worldwide, 57 of which are located across cities in North America, the Middle East, and Asia.

“Accordingly, we are determined and confident in our ability to finish the year on a strong note while putting ourselves in a unique position to grow further come 2019,” Mr. Trota said.

Shares in MGI jumped 2.11% or 22 centavos to close at P10.64 on Monday. — Arra B. Francia

 

*this article was copied and originally published in BusinessWorld, last November 13, 2018 and can also be found at https://www.bworldonline.com/new-stores-push-maxs-earnings-32-higher/

Jollibee nets P2B in Q3 amid global push

HOMEGROWN food giant Jollibee Foods Corp. (JFC) expanded its attributable profit by a fourth from July to September, lifted by its global store expansion alongside the consolidation of American burger chain Smashburger into its portfolio.

In a disclosure to the stock exchange on Monday, JFC said net income attributable to equity holders of the parent climbed to P2.04 billion in the third quarter of 2018, 26% higher year-on-year. Its topline also registered a 22% increase to P39.75 billion, on the back of a 26% uptick in system-wide retail sales to P53.27 billion.

The listed firm attributed the system-wides sales increase to the consolidation of Smashburger into its portfolio. Without Smashburger, JFC’s system-wide sales for the third quarter went up by 16%, following a same store sales growth of 6% coupled with changes in foreign exchange rates.

Smashburger drove the North American business 218% higher. Without Smashburger, the North American business grew by 30.3%.

Meanwhile, its business in Europe, Middle East, and Asia ex-Philippines improved by 32%, while China went up by 5.2%.

The Philippines business, on the other hand, firmed up by 15%, after same-store sales growth reached seven percent. JFC’s local business accounts for 70% of system-wide sales.

This brought JFC’s attributable profit 19.2% higher to P6.09 billion in the first nine months of the year, after revenues logged a 21% increase to P114.84 billion. System-wide retail sales for the period also surged 24% to P153.18 billion.

Earnings per share on a year-to-date basis went up by 18.4% to P5.60.

“Sales grew strongly in most regions in the world including the Philippines. We are encouraged particularly by the strong performance of Jollibee and Highland Coffee in the Socialist Republic of Vietnam which have been growing by 35% driven by high same store sales and the opening of 73 new stores in the first nine months of the year with strong return on investments,” JFC Chief Financial Officer Ysmael V. Baysa said in a statement.

The JFC Group’s worldwide store network stood at 4,353 by end-September, after opening 302 stores during the period. Of this, 3,003 are located in the country across several brands such as Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, and Pho 24.

Overseas, the group also manages other brands like Dunkin’ Donuts, Yonghe King, Hong Zhuang Yuan, Highlands Coffee, Hard Rock Cafe, and Smashburger.

The nine-month period saw JFC’s entry into new markets, including Milan, Italy last April, Macau in June, and the United Kingdom in October. The company looks to open Jollibee stores in Malaysia and Guam in the following months.

Mr. Baysa said they expect the new stores to further improve earnings with the next one to two years, amid “episodes of high inflation rate and the acquisition of new businesses.”

Shares in JFC fell by 1.44% or P4 to close at P274 each on Monday. — Arra B. Francia

*this article was copied and originally published in BusinessWorld, last November 13, 2018 and can also be found at https://www.bworldonline.com/jollibee-nets-p2b-in-q3-amid-global-push/

Fruitas branches out with launch of new brands, provincial expansion

RIDING on the economic dynamism of key cities and provinces outside the capital, Fruitas Holdings Inc. (FHI) expanded its network in the Visayas and Mindanao with 70 new stores, bringing its total store count to 849.

In keeping with its goal to serve the fast-growing food cart industry, FHI opened more than 70 new stores this year. Its growth was driven by its entry into new markets outside Metro Manila, including locations in Cebu, Davao, Dagupan, Leyte, Iloilo and Cagayan de Oro, as well as the opening of new food brands.

Further driving its expansion was the launch of food brands serving various market segments, which include Cascades Lifestyle Park, UVA, Chikenini and LA Steak.

“Fruitas Holdings plans to further strengthen our footprint outside Metro Manila. We have been doubling our number over the past years and would like to sustain this momentum,” said Lester Yu, Fruitas Holdings Inc. president and CEO.

In 2017 FHI reported P1.2 billion in consolidated sales, a 130-percent increase from its half-a-billion sales in 2016, which was driven by aggressive expansion and opening of stores for the year. The company has been almost doubling their stores for the past two years. In 2016 FHI capped the year with 415 stores, a 60-percent increase from 2015. Last year FHI ended with over 750.

Alongside its expansion, Fruitas Holdings also partnered with GCash to integrate the Scan-to-Pay feature into their payment system, which allows their customers to do cashless transactions in 45 of its pilot stores. The company is targeting to launch the mobile payment system in all FHI brands nationwide by end-2018.

“To advance the growth of our physical stores, we also plan to grow with technology through GCash. It will be an opportunity for us to provide an easier and more efficient payment system and create a better experience for our consumers,” Yu said.

Fruitas Holdings Inc. currently has over 20 brands under its portfolio namely Fruitas Fresh From Babot’s Farm, Buko Loco, Juice Avenue, Buko Ni Fruitas, Fruitas Ice Candy, De Original Jamaican Pattie Shop and Juice Bar, The Mango Farm, Johnn Lemon, Black Pearl, Cindy’s Candy Cloud, Tearex, Shou La-Mien Hand-Pulled Noodles, Friends Fries, 7,107 Halo-Halo Islands, The Pub, Munifico Pizzeria, Fancie, Fruitas House of Desserts, Uno Cinquenta The Lifestyle Park, Le Village The Lifestyle Park, and Cascades The Lifestyle Park.

FHI is the leading group in the food cart industry in the Philippines. Since its first stall opened in 2002, the group now has over 800 stores all over the country and over 20 brands in its portfolio.

*this article was copied and originally published in BusinessMirror, last September 14, 2018 and can also be found at https://businessmirror.com.ph/fruitas-branches-out-with-launch-of-new-brands-provincial-expansion/

Jollibee opening in UK, Manhattan, Macau

By James Loyola

Jollibee Foods Corporation (JFC) is set to open its first Jollibee stores in three different milestone locations – UK, Manhattan, and Macau — as part of its overseas expansion plans.

Manila Bulletin

Manila Bulletin

This development comes as the company continues its rapid expansion in order to even the share of domestic to international sales.

The first Jollibee store in UK will have its grand opening on October 20, and a few weeks before, the Macau branch will do its grand opening on September 28. The Manhattan, New York store will open within a few months.

JFC is bringing the company’s well-loved brand to Filipinos abroad to give them a “taste of home.”However,on top of serving Filipinos overseas, JFC has seen the success of Jollibee in catering to local markets.

In Vietnam and Brunei, all of its customers are locals. Jollibee is in fact the fastest growing chain in Vietnam while it is one of the top fastfood chains in Brunei.

In Hong Kong and Singapore where it has added more stores, more than half of its customers are locals. JFC envisions to continue replicating its success in the Philippines, Vietnam, Brunei, Hong Kong and Singapore in other markets soon.

In 2013, JFC became the number one restaurant company in Asia, in terms of market capitalization and is now the world’s largest Asian Restaurant Company.

The fast-food giant is now aiming to be among the Top 5 Largest Restaurant Companies in the world in terms of market capitalization.

To achieve this, JFC identified focusing on the two largest economies in the world, namely China and United States, and for continued expansion in other parts of the world, while sustaining business growth in the Philippines.

 

*this article was copied and originally published in Manila Bulletin , last September 12, 2018 and can also be found at https://business.mb.com.ph/2018/09/12/jollibee-opening-in-uk-manhattan-macau/

Jollibee buys 47% stake in US-based Mexican restaurant

By Richmond Mercurio

MANILA, Philippines — Filipino fastfood giant Jollibee Foods Corp. (JFC) is acquiring $12.4 million worth of shares in a US-based restaurant chain that serves Mexican food.

JFC told the local bourse yesterday that its wholly-owned subsidiary Jollibee Foods Corp. (USA) has entered into a business venture with Tortas Frontera LLC owned by award-winning chef Rick Bayless to build a Mexican fast-casual restaurant business in the US.

JFC will invest $12.4 million for 47 percent of the fully-diluted membership interests in Tortas Frontera.

The remaining 53 percent membership interests in Tortas Frontera will be held by Bayless and other shareholders.

JFC said the transaction is still subject to the fulfillment of agreed closing conditions.

The fastfood giant said the partnership is in line with its strategy to continue building its business abroad and expanding its presence in North America.

The company said Mexican food is a rapidly-growing and very popular segment in the US restaurant industry with estimated sales of $45 billion in 2017.

“Together with chef Rick Bayless’ organization and brand Tortas Frontera, we will build a significant business in the large and fast-growing Mexican food category in the United States. This venture is very much in line with JFC’s mission: to serve great tasting food and spread the joy of eating to everyone,” JFC chairman Tony Tan Caktiong said.

Tortas Frontera, which is headquartered in Chicago, Illinois, currently has four restaurants in the US – three in Chicago O’Hare International Airport and one at The Arc in the University of Pennsylvania.

It is owned and founded by Bayless, an award-winning chef and is author of nine cookbooks.

“We at Jollibee Foods Corp. are very excited about this new partnership. We have great admiration for chef Rick Bayless for being a top chef, for being a successful restaurateur and for his philanthropic endeavors,” Tan Caktiong said.

JFC is Asia’s largest food service company with 4,279 stores worldwide as of end-June.

The company has a total of 436 stores in North America composed of 349 Smashburger, 37 Jollibee US, three Jollibee Canada, 32 Red Ribbon, and 15 Chowking.

In the Philippines, it has 2,957 restaurant outlets, including 1,094 Jollibee brand, 542 Chowking, 277 Greenwich, 434 Red Ribbon, 514 Mang Inasal, and 96 Burger King.

*This article was copied and originally published at The Philippine Star, last September 8, 2018 and can also be found at https://www.philstar.com/business/2018/09/08/1849534/jollibee-buys-47-stake-us-based-mexican-restaurant

Jollibee invests P668 million in US Mexican restaurant chain

By James A. Loyola

Jollibee Foods Corporation (JFC), Asia’s largest food service company, is investing about P668 million to venture into the $45-billion Mexican fast-casual restaurant business in the United States (US) in partnership with award-winning Chef Rick Bayless.

In a disclosure to the Philippine Stock Exchange, Jollibee said its wholly-owned subsidiary Jollibee Foods Corporation (USA) has entered into a business venture with Bayless’ Tortas Frontera LLC.

JFC will invest US$12.4 million in Tortas Frontera, which owns the Tortas Frontera business founded by Bayless, in consideration for 47 percent of the fully-diluted membership interests therein.

The remaining 53 percent membership interests in Tortas Frontera shall be held by Chef Rick Bayless and other shareholders. The transaction is subject to the fulfillment of agreed closing conditions.

Bayless is the founder of Tortas Frontera restaurants, which feature handcrafted tortas, fresh-made guacamoles, and hand-shaken margaritas. He is known for his award-winning Chicago restaurants, longrunning Public Television series and for winning the title of Bravo’s Top Chef Masters with his authentic Mexican cuisine.

“We at Jollibee Foods Corporation are very excited about this new partnership. We have great admiration for Chef Rick Bayless for being a top chef, for being a successful restaurateur and for his philanthropic endeavors,” said JFC Chairman Tony Tan Caktiong.

He added that, “together with his organization and brand Tortas Frontera, we will build a significant business in the large and fast-growing Mexican food category in the United States. This venture is very much in line with JFC’s mission: To serve great tasting food and spread the joy of eating to everyone!”

Mexican food is a rapidly-growing and very popular segment in the United States restaurant industry with estimated sales of US$40 billion to $45 billion in 2017.

Tortas Frontera, with headquarters in Chicago, Illinois, currently has 4 restaurants in the United States – three in Chicago O’Hare International Airport and one at The Arc in the University of Pennsylvania.

The Tortas Frontera restaurants use high-quality ingredients with recipes capturing the vibrant flavors of Mexico.

Earlier, Jollibee Foods Corporation (JFC) reported a 16.1 percent growth in attributable net income to P4.05 billion in the first half of 2018 from the P3.49 billion earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, Jollibee said its net income for the period included foreign exchange gains of P69.1 million.

System wide sales, a measure of all sales to consumers both from company-owned and franchised stores grew by 23.2 percent to P99.91 billion from P81.08 billion while revenues rose 21.4 percent to P75.1 billion from P61.84 billion. Excluding the impact of the consolidation of Smashburger effective April 17, 2018, system wide sales grew by 18.7 percent for the first half of 2018.

System-wide sales grew by 26.8 percent in the second quarter compared to sales in the same period of 2017. Without Smashburger, system-wide sales grew by 18.1 percent for the second quarter of 2018.

*This article was copied and originally published at Manila Bulletin,  last Sept. 7, 2018 and can also be found at https://business.mb.com.ph/2018/09/07/jollibee-invests-p668-million-in-us-mexican-restaurant-chain/

Franchising business sparks quick growth, says PFA official

A Philippine franchise guru is urging Negrenses to go into franchising because it holds huge prospects of financial growth.

Bing Sibal-Limjoco, Philippine Franchise Association official and Francorp Chief Executive Officer, said those who have gone into franchising have grown big including businesses coming from Negros Occidental.

During the Franchise Negosyo Para sa Bacolod, Wednesday August 29, she mentioned Felicias, Munsterric and Chefs and Bakers among local enterprises that went into franchising.

She particularly cited Potato Corner that started small but is now an international brand having branches abroad including the United States.

Potato Corner is owned by Joe Magsaysay whose wife hails from Negros Occidental.

She said there are more than 1,500 franchise brands in the country and about 32 percent is foreign and 68 percent local.

A franchise expo is scheduled August 29 to September 2 at the L’ Fisher Hotel and SM City Bacolod Activity Center which is part of the Visayas Area Business Conference.

Limjoco said the world is also investing in the Philippines because it is one of the fastest growing economies in the world and has a huge market having more than 100 million population.

She shared emerging trends in food that include rise of halal restaurants, mainstreaming of regional delicacies via franchising and fashion retailers diversifying to food businesss.

Emerging business trends in general are self-service service laundry, 24- hour Gym and house keeping services.

Other trends include health and wellness, travel and tourism related businesses, retirement- related businesses and education/tutorial services.

Limjoco said the Duterte administration will usher in the golden age of small enterprise as it focuses on strengthening support to small and medium enterprises (SMEs) and countryside development.

“The administration is tied with the ‘golden age of infrastructure’ that could spell better business infrastructures to fit the needs of different industries, she said. (JBG/Lljr-PIA6)

*this article was copied and published originally at Negros Daily Bulletin, last Aug. 31, 2018 and can also be found at http://www.ndb-online.com/august3118/franchising-business-sparks-quick-growth-says-pfa-official

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