WHILE some business-minded individuals might consider the present as a bad time to invest, a Cebuano whose family is involved in the food business thinks otherwise.
Food being a necessity, Jerome Noel said, he did not let the financial crisis in the United States—which is also affecting the Philippine economy—hamper his decision to open a resto-bar and coffee shop on F. Ramos Street, Cebu City.
“There is not a bad time to invest in the food business. (Food) is a necessity. Besides, tourism in Cebu continues to grow and the food industry supports (that growth),” he said.
Noel has invested about P2 million on Velouté (French for smooth, also means white sauce), a resto-bar-cum-coffee shop and hopes to get back his investment in about a year.
The new dining destination is already open but will have its grand opening on Oct. 10 yet.
“There are plenty of opportunities. Aside from day-to-day dining, there are many special occasions, like Halloween, Christmas and Sinulog,” Noel said in an interview. “Of course, it’s going to be tough work, but with the right people, efficient management and staff, I’m pretty sure we will make it.”
Manny Salera, the restaurant’s manager, said that “if things will go as planned,” Velouté will open another branch.
Noel said he has talked with Robinsons Land about the possibility of opening a branch at the future Robinsons Cybergate building, which is expected to open in the last quarter of 2009. The seven-story building that is still being constructed at Fuente Osmeña will house retail shops and business process outsourcing offices.
Dining destination
In the meantime, Noel said he is focusing on making Velouté the new dining destination for metropolitan residents.
Velouté, located near the Bigfoot office complex, offers some traditional favorites—like grilled pork chops, chicken curry, pasta with Bolognese sauce—with a twist. Even its bacon-lettuce-and-tomato sandwich is presented differently on the menu, designed to catch one’s eye.
Noel, whose family owns Casa Verde, said he decided to open Velouté to provide residents in the metropolis a place where they can dine comfortably without spending a fortune.
“This is a place where you can eat like a king, get served like a king and spend right,” he said. “The food and drinks here are similar to those in five-star hotels but at the right price.”
Although the new restaurant is not meant to compete with Casa Verde, cold beverages at Velouté come in tumblers whose sizes are almost like those of the former. One can also get caffeinated and decaffeinated coffee concoctions and fruit blended drinks at competitive prices.
Noel said he does not believe in setting high prices.
“You price the product right. You get your earnings through the number of customers who will come back again and again because they like the food, the service and the prices,” he added.
While he likes to have a full restaurant, Noel said he does not want to compromise the ambiance that Velouté aims to maintain.
“That’s why we have lots of space around and between tables; so customers will be able to dine in comfort,” he said. “When we see that there are too many customers, we will branch out instead of add tables and chairs.” (LAP)
