Monday, November 03, 2008 Resto chain comes to Cebu, keeps confidence in market amid crisis
WHILE consumers are expected to be more prudent in their spending to cope with the global financial crisis, a Japanese restaurant is confident it would be able to lure those who like fine dining but are conscious of their budget, as well as those who want something besides fast food.
This is why Teriyaki Boy, which opened Wednesday at The Terraces in Ayala Center Cebu, strives to make itself “as different and as interesting as possible,” and reach out to more consumers even in the present crisis and amid stiff competition in the food industry.
Teriyaki Boy, a member of the Pancake House Group, considers its products, customers service and the store’s ambiance as the key factors that make itself stand out amid competition.
The restaurant, which provides casual Japanese dining experience, targets the class A, B and upper C market.
“When the economy goes bad, fine diners will most likely cut their expenses and come to us. And when the economy is good, fast food customers would likely spend more and come to us (as well),” said Bernadette Lee, brand group managing director of Pancake House Group.
Lee noted that since Pancake House entered the Cebu market five to seven years ago, it has become a dynamic city with a booming tourism sector. This growth, she said, prompted the Pancake House Group to introduce another food brand, Teriyaki Boy.
The Pancake House Group invested P7 to P8 million on Teriyaki Boy at The Terraces, the 37th member of the Japanese restaurant chain.
“We’ll continue to expand even when the global economic slowdown affects consumers, who may still spend on restaurants but not as frequently as before. What we will do is that we will streamline our costs in order to efficiently operate and protect our bottom line,” she said.
Of the 37 Teriyaki Boy outlets nationwide, about 11 are franchisees, four are joint ventures, and the rest are company-owned, including the one at The Terraces. The restaurant’s management plans to open one more outlet by the end of the year.
Teriyaki Boy opened its first branch in 2001 and merged with the Pancake House Group in 2005 to increase market share and strengthen brand loyalty. (NRC)
