Wednesday, November 05, 2008 ‘Go slow but don’t give up’
AMID the global financial crisis, entrepreneurs must move slowly and not give up, so that they can position their businesses well and get ready when the market makes a rebound.
Steve Benitez, president of the Bo’s Coffee Club, chose to focus on branding as the global financial crisis that originated from the United States sub-prime mortgage fiasco takes a toll on economies across the globe.
Bo’s Coffee Club, which operates the largest home-grown coffee chain in Cebu, is strengthening its position as a “modern Asian, modern Filipino” coffee shop amid the presence of many international coffee brands in the country.
Benitez said Bo’s Coffee also supports Filipino businesses by using local coffee beans in about 90 percent of its products and showcasing Filipino-made furniture and decorative pieces in its various outlets.
“It is challenging to be a Filipino-Asian coffee shop, but it’s not like before. Many Filipinos are now proud to see local brands and are happy to patronize it,” he noted.
Amid talks of a possible global recession, Benitez said Bo’s Coffee’s expansion plans will be “very conservative and choosy”—potential sites for new outlets will have to be evaluated thoroughly.
Still, he said, Bo’s Coffee hopes to have one franchised outlet within or near a mall in every city in the country.
The company plans to open an outlet in Tacloban City next year as well as at the future Robinsons Cybergate Cebu building near the Fuente Osmeña rotunda, Cebu City. Bo’s Coffee also hopes to have franchised outlets in the cities of Dumaguete, Bacolod and Iloilo.
New outlets
Last week, Bo’s Coffee opened its 35th outlet in the country at The Terraces of Ayala Center Cebu. Bo’s Coffee plans to have four company-owned outlets at Ayala Center Cebu.
Before the year ends, Bo’s will open its fourth outlet in Ayala Center, which will also be located at The Terraces.
“Instead of one big store at Ayala Center Cebu, we want to build three satellite stores and one medium-sized outlet as a strategic move to capture different segments of the market,” said Benitez who declined to state investment figures.
Bo’s Coffee also plans to open an outlet at Parkmall@168 in North Reclamation Area and one at the SM Megamall in Metro Manila.
Coffee Centrale, Inc., the holding company for the coffee shop and the franchising arm, counts about 15 outlets in Cebu, four of which are franchises. Bo’s Coffee also have branches in Manila, Davao, Bohol and Cagayan de Oro.
The coffee company also encourages its customers to be creative as they can concoct their own beverage through Bo’s Coffee’s “Celebrating/unleashing Filipino ingenuity: Create your own masterpiece” contest.
The company recently organized the contest which was participated in by children, bloggers and bank employees, among others. The winning drink gets featured in the Bo’s Coffee outlet where the event took place and gets the chance to be included in the store’s regular menu of drinks.
Bo’s Coffee Club plans to hold the contest regularly. (NRC)
