Food business is a lucrative but highly competitive business venture especially in the Philippines. You will realize what I’m saying if you go to shopping malls and public markets. It is profitable business once you established the system and you have been known by people for quite sometime. If you’re an OFW or an employee who wants to venture to business, food sector is one of the easiest way to start entrepreneurship. However, each sector has its pros and cons. For example, food is perishable so you need to sold all of your produce food before it perish or prior its expiration.
Number of Stores of Jollibee
I also wants to start a business and considering greatly to venture on food business, however, I don’t know what kind of food I should focus on. There are lots of food that I think might be a good business but it can be copied easily by competitors so I’m still looking which one to proceed.
We’re talking about food business. Maybe you’re wondering or you’re researching which is the largest fast food chain in the Philippines. Undoubtedly, Jollibee Group of Companies (JFC) is the largest fast food network in the country in terms of the number of stores they operate throughout the country and even outside the Philippines.
JFC owns the country’s largest fast food chain with a total of 1,946 stores all over the Philippines as of this writing. You can see below the number of stores for each restaurant of JFC.
|Restaurant||Number of Stores|
JFC has also overseas stores based majority in China and the US. It has 437 stores abroad composed of 240 Yongher King, 52 Hong Zhuang Yuan, 70 Jollibee, 36 Red Ribbon in the US and 39 Chowking. All in all, JFC has a total of 2,383 stores worldwide. Year by year, JFC increases its number of stores through franchising and direct ownership of the store.
Jollibee’s Business Strategy
Jollibee is listed company in the Philippine Stock Exchange (PSE) with the trading symbol JFC. If you want to own JFC, you can buy its stocks and hold it for a long period of time.
One of the strategy they are doing is buying or acquiring a large percentage of food businesses that has been doing great in terms of customer number and sales. Take for example the recent acquisition of Mang Inasal. JFC bought the 70% ownership of Mang Inasal only this year for a whopping P3 billion because they saw the potential of this restaurant to dominate the market of chicken barbecue and other Filipino food.
Another business strategy of Jollibee is establishing new stores through franchising. It is a great business model and it allows a fast expansion not only in the Philippine but also abroad where there are many Filipinos and OFW.
JFC will continue to be the largest fast food chain in the Philippines since their customers are from little children to adult person. It is a good company to own through buying its stocks.