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Monday, August 22, 2005
Go Nuts Donuts to open in Cebu
THE owner and operator of Cosmopolitan Memorial Chapels Inc. (CMCI) has decided to venture into the food business by buying the franchise of Manila-based Go Nuts Donuts.
Renato Dychangco, president and chief executive officer of CMCI, said the company has also established a holding company, Highpoint Management Corp. (HMC), which will oversee the operations of CMCI’s other businesses.
The businesses under HMC include CMCI, kitchen furniture distributor Paragon Immagine Corp., CMCI’s franchise company Cosmopolitan Cares, casket manufacturing company RSD Resources and Dough It Co., the exclusive franchisee of Go Nuts Donuts.
Dychangco said the company has made careful studies on its new food business and has decided to take on the risks inherent to new businesses that will operate in Cebu.
“We know that Cebu is a different market. New businesses, including restaurants and food outlets, are expected to (do well) only in the first few months. But we are ready once the market plateaus,” he said.
Dychango said once the Go Nuts market plateaus, the company would package some of its products, which include doughnuts, coffee and ice cream, as “pasalubong.”
Go Nuts Donuts’ first branch in Cebu, which will open in October, is located at the Banilad Town Center. The company plans to open satellite outlets in Ayala Center Cebu and in SM City Cebu within the year.
Coney Island
Go Nuts Donuts is owned by the Trillanas, the family whose Coney Island gave the country bubble gum ice cream almost 30 years ago, according to the Internet.
The company wanted to break into what it estimates to be a P4.5-billion to P6-billion doughnut industry, dominated today by Dunkin’ Donuts and Mister Donut. JBN
(August 22, 2005 issue)
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