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JFC eyes 10,000 stores abroad by 2020 |
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Jollibee Foods Corp., the country’s number one homegrown fastfood chain, is eyeing the establishment of 10,000 stores globally including its acquired other brands by 2020 largely through franchising.
Ernesto Tanmantiong, president of the publicly-listed JFC, revealed this in a keynote speech at the 16th Philippine International Franchise Conference saying this target supports the company’s vision to become the largest food company in the world.
"We will be as well known as any other brand in the world, the best quick service restaurant and the most endearing brand that has even been," Tanmantiong said.
Speaking on the topic of franchising first secret of "dream big", Tanmantiong said their vision 2020 was set by his brother Tony Tancaktiong when Jollibee had only five stores.
"He was not joking then. Now, we are celebrating our 30th years and welcoming the 2020 vision," Tanmantiong said.
So far, the JFC group has a total of 1,727 stores of which 1,483 are in the Philippines and 244 internationally.
Jollibee has the most number of stores with 632 of which 50 percent are under franchise arrangements. The rest are Red Ribbon, Greenwhich, Chowking, Manong Pepe’s and Daily France.
The group has 18 stores in the U.S., 11 in Brunei, 9 in Vietnam and opening two more this year, 1 in Hong Kong, 1 in Saipan, 1 in China, and 1 in Middle East.
In particular, the company has cited strong potential in China, which it considered not a marathon but a sprint and the Middle East, which future is promising.
"We will rely on franchising as we look forward internationally," Tanmantiong said. The company has also put up its own Jollibee Franchise Corp. to attend to its growing number of franchisees.
Tanmantiong, however, said that the success of the group is not without hardships noting that its first international debut was a failure but they did not stop and learned from their experiences.
"It is always better to dream big than small," he said noting that the dream is big and is fueled by passion and hardwork chances are part of that big dream would be attained or all of it.
"Believe in your dream," he told a crowd of franchisers and businessmen. The company is also attributing its success to the company’s workers.
"This is a crucial transition stage (for us). We are gearing up for greater challenges. We have hurdled a lot of challenges in the past, and went through cycles of economic crisis. Crisis after crisis, challenge after challenge, we continued to persevere," Tanmantiong said. (BCM)
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