Tag: Franchise

‘Corny’ story behind entrepreneur’s success

By Roderick T. Dela Cruz
Published online by the Manila Standard, September 14, 2019

A decade ago, Voltaire “Bong” Magpayo did not even have money to go to a dental clinic in Quezon City. When his mother-in-law lent him P500, he met not only the dentist who treated him but also someone who gave him an opportunity to launch his food cart business.

Today, Magpayo, 49, and his wife Cholly own successful food cart chains that employ more than 200 people in different cities. Sweet Corner Inc., the couple’s first food concept, is acknowledged as a model for the inclusive business franchise while Magpayo is a most distinguished alumnus in the field of Entrepreneurship at San Beda University where he obtained his Accounting degree.

The couple, who used to live in his parents’ home, now have their own in a Quezon City subdivision while their three children go to good private schools.

Sweet Corner, which sources all-natural corn from South Cotabato, has 75 food carts in shopping malls and other commercial establishments while Sumo Takoyaki, the couple’s second food concept, has another 75 outlets. They have recently ventured into the bakery business under the brand 12C4 Bread Station which currently has three stores.

His businesses have a profit margin of 30 percent to 40 percent, making them attractive franchise opportunities for others. Magpayo says he does not collect royalties from franchisees as a way to help them quickly recoup their investments.

Magpayo, who also holds a Master’s Degree in Applied Business Economics from the University of Asia and the Pacific, is now a certified franchise executive bestowed by the Philippine Franchise Association and an active mentor of Go-Negosyo Philippine Center of Entrepreneurship.

Magpayo recalls growing up in a middle-income family. His parents are both public school teachers who sent him to San Beda College where he had classmates from wealthy families.

“I did not envy my rich classmates, but it served as an inspiration for me to work harder in life. If you want good things in life, you have to work for it,” Magpayo says in an interview.

“I am resourceful. I always find a way and I always try. Even when I met several failures and cried, I always persevered. I grew up in an ‘old school’ way and was trained to be strong because I am the eldest in the family,” he says.

After graduating from college, he worked for various companies and government agencies. He joined a bank for four years before migrating to General Santos City where he served as a manager of an agribusiness company. “That is where I was exposed to corn farmers because my job involved purchasing corn as a feedstock for the cattle,” he says. “I learned a lot of things in Mindanao.”

His wife Cholly is from South Cotabato which is considered the corn capital of the Philippines. She graduated from the University of San Carlos in Cebu with a degree in BS Administration and worked for a bakeshop chain.

 

Magpayo moved back to Manila in 2001 and became a business development officer at a government agency. “It was a job order which meant I did not enjoy employment benefits and regular status. When my boss left the government because he was co-terminus with the president, I also lost my job,” Magpayo says.

When he left the government, Magpayo had only P30,000 in savings which he did not want to touch because he was thinking of going to the US for work. Although SM approved his food cart concept, he lacked the money to pay for the security deposit to launch the business.

“I am not religious but I went to Our Lady of Antipolo and asked for a sign if I should go to America or proceed with my food cart concept,” he says.

Magpayo needed P60,000 as security deposit which was more than his total savings. “I also had young children whose studies I needed to support,” he says.

 

This article is originally published and written by the Manila Standard which can be accessed online at http://www.manilastandard.net/mobile/article/304942

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

Expo seen to spur franchise investment opportunities

THE Philippine Franchise Association (PFA) is optimistic that the just-opened franchise exposition in Bacolod City will spur franchise investment opportunities especially for food, retail and service sectors in Negros Occidental.

PFA officials headed by their founding president and chairman emeritus Samie Lim and vice chairman Bing Sibal-Limjoco led the opening of the two-day Franchise Expo at L’Fisher Hotel.

Dubbed “Franchise Negosyo para sa Bacolod,” it will run until today, August 31.

Participated by 18 exhibitors in the country, the activity is part of the ongoing 27th Visayas Area Business Conference and Agriculture and Livestock Expo hosted by the Metro Bacolod Chamber of Commerce and Industry (MBCCI) and the Provincial Government of Negros Occidental.

PFA president Richard Sanz, in a statement, said the expo forms part of the association’s Franchise Negosyo Roadshow that aims to contribute to the economic development by providing business opportunities to the people in the regional areas.

“We are excited with our franchise expo in Bacolod City because it is one of the most progressive cities in the country,” he added.

PFA cited that in the Cities and Municipalities Competitiveness Index 2018 recently released by the National Competitive Council, Bacolod ranked first among highly urbanized cities in the Visayas and number eight most competitive city nationwide.

It is also this year that the city was awarded as “Most Business-Friendly City” by The Manila Times, the association said.

“It is a perfect time for Bacoleños to ride on the growth momentum. It will impact not only to their local economy but to the entire nation as well,” Johnny Que, PFA director for Western Visayas, said.

For his part, Bacolod City Vice Mayor El Cid Familiaran, who was also present during the opening rites, said the local government is optimistic that the expo will create new businesses and employment for the locals.

“This is a perfect timing since Bacolod is moving towards the direction of being the most competitive city in the country,” Familiaran said.

Also present during the opening ceremony were MBCCI president Roberto Montelibano, Department of Trade and Industry–Negros Occidental Director Lea Gonzales, Provincial Administrator Lucille Gelvolea and Silay City Mayor Mark Andrew Arthur Golez.

Still part of the “Franchise Negosyo para sa Bacolod,” PFA and MBCCI also conducted a seminar of franchising on Wednesday.

At least 40 local enterprises were taught on how to franchise business and how to invest in the right franchise.

Sibal-Limjoco earlier said current opportunities in franchising industry are growing, which small and medium enterprises (SMEs) in the province may take advantage of.

“The Philippines is now considered as the franchise hub in Asia,” she told SunStar Bacolod, adding that “Negrenses are really into entrepreneurship thus, franchising potentials are still huge here.”

Also part of the three-day 27th Visayas Area Business Conference and Agriculture and Livestock Expo running until today, MBCCI conducted the Aspire (Agribusiness Support for Promotion and Investment in Regional Expositions) Forum and Business Matching still at L’Fisher Hotel yesterday.

Aspire is aimed at integrating marketing development support services to farmers, fisherfolk, micro-small and medium enterprises (MSMEs) and other stakeholders.

National and local chamber officials also opened the two-day Agriculture and Livestock Expo at SM City Bacolod Activity Center yesterday.

The business conference proper is scheduled today at the said hotel, where Governor Alfredo Marañon Jr. will be the keynote speaker during the opening rites.

Plenary session topics include Philippine Constitutional Review: Proposals Affecting Economy and the Federated Regions, Neda Briefs: Information Needed by Business and Government Planners, Tourism Sustainability: The Boracay Experience, and Investing in Sustainable Tourism.

Senate committee on agriculture and food chair Senator Cynthia Villar will talk on Food Security and Government Interventions in Agriculture this afternoon.

*this article was copied and originally published in SunStar Bacolod, last Aug. 31, 2018 and can also be found at https://www.sunstar.com.ph/article/1761983/Bacolod/Business/Expo-seen-to-spur-franchise-investment-opportunities

ARCHIVE

RECENT POST

TAGS