Friday, July 06, 2007 Fastfood chain to open 160 local, international outlets
A Filipino fastfood chain plans to intensify its presence both locally and internationally by expanding its network of franchised stores.
“There will be more growth for the company this year in terms of expansion,” said Ysmael Baysa, Jollibee Foods Corp. (JFC) vice president and corporate finance and chief finance officer.
JFC is targeting to open 160 branches here and abroad, and 130 of these will be spread throughout key cities and municipalities in the country, Baysa told Sun.Star Cebu.
He added that 15 Jollibee stores will soon open in China.
Baysa said, though, that he cannot determine how many of these 130 branches will begin operations in Cebu this year.
He said more Jollibee food outlets are expected in the northern and southern part of the province.
“We are just finalizing the negotiations but surely we will be all over Cebu,” he said.
Expecting Cebuano consumer spending to grow further and optimism in other sectors like tourism, entrepreneurship and information technology have made Jollibee decide to expand its franchise operations in “untapped” municipalities, said Baysa.
“Putting a Jollibee store in a small town is very symbolic in the Philippines. It means that town has the potential to grow economically,” he added.
A Jollibee outlet, especially in remote areas, is expected to generate employment and taxes, he said.
“I think there is a need for more investments in the countryside and improve the lives of people living there,” he added.
Because Jollibee’s store expansion is dependent on the strong demand for its products and services, he said the company is seeing signs that more Filipinos here and abroad are spending a lot for food consumption, among others.
“In the last three years, we have seen an increase in spending among the A,B,C and D markets. This year, there is a double-digit growth for food consumption among the poorest or the E market,” Baysa said earlier.
Compared to last year, he observed that one-fifth of the households in the Philippines is now visiting formal restaurants at least once in every four weeks.
Baysa was in Cebu earlier as a panelist in the 2nd Annual Philippines Investment Conference held at the Shangri-La’s Mactan Island Resort and Spa. (MMM)
