May 12, 2013
Source: Tribune
Binalot Fiesta Foods Inc., founded in 1996 by entrepreneur Rommel Juan and his three friends upon graduating in college, has grown from a lowly stall in Shaw Boulevard supplying office workers in nearby offices and in Makati banana leaves-wrapped food packs into 41 formal stores now. By the end of 2013, Juan hopes to grow the store size to 50.
Of the 41, only five are owned by the company while the bulk is franchised. Around 40 to 60 percent of these stores are located inside the malls another 30 percent in buildings and the rest are standalone restaurants.
He said most of the franchisees are overseas Filipino workers and immigrants who would like to ensure the finances of their loved ones here through a business of their own.
Though Binalot has a formal franchise package to offer its investors, it keeps an open mind to suggestions from potential investors on location, size and type of stores they want to operate.
The franchise package ranges from P2.8 to P3.5 million for a 50 to 150 sq.m. full store/restaurant operations; P1.9 million to P2.8 million for a 20 to 50 sq.m. in line “stall” and from P1.9 million to P2.3 million for a 15 to 25 sq.m. in line “kiosk.” Though Juan does not want to grow Binalot into another Jollibee network of stores, “I want our food to reach as many parts of the Philippines and countries with large concentrations of Filipino communities to continue enjoying Filipino food they grew up with,” he said.
There are Binalot stores in Quezon City, Mandaluyong, Makati, Manila, Marikina, Pasig, Taguig, Alabang, Novaliches, Valenzuela, Cavite, La Union, Tarlac, Pangasinan, Legazpi in the Bicol region, and Iloilo in the Visayas, Cagayan de Oro in Mindanao. The latest to open is Cagayan de Oro in Mindanao, another in Subic and one at the basement of Banco de Oro in Makati just recently.
For the moment, he said, Binalot is not yet looking at locating in other countries until such time we have scattered our stores in most parts of the Philippines. But, he added, he has been getting inquiries to put up stores abroad mostly from overseas-based Filipinos.