B Pages:2 Words:526
This is just a sample.
To get a unique essay
Hire Writer
Type of paper: Essay
University/College: University of Chicago
Download: .pdf, .docx, .epub, .txt

A limited time offer!

Get custom essay sample written according to your requirements

Urgent 3h delivery guaranteed

Order Now

Mang Inasal

Pre-Mang Inasal At age 10, Sia already helps out in the family business, stacking merchandise, taking inventories or manning the counter after school. It was with the family business that Sia developed the sixth sense for business. By age 20, he was already running multiple businesses which include a photo developing store (Injap Color Express), a 58-room three star hotel (Four Season Hotel), and a laundry shop (Mister Labada).

We will write a custom essay sample on Mang Inasal specifically for you
for only $13.90/page
Order Now

Founding of Mang Inasal The start When a 250-meter slot in Robinson’s mall in Iloilo, was presented to Sia, he immediately reserved it despite not knowing what to put up yet.

With P2. 4 million of borrowed money, Sia decided on inasal as the most viable dish after analyzing the different culinary specialty of the 16 regions. It was a unique entry to the saturated chicken business. Hence, in December 12, 2003, he opened the first store of Mang Inasal. Sia positioned Mang Inasal as an alternative quick service restaurant that serves charcoal-grilled chicken, wrapped its rice in banana leaf and uses bamboo sticks for its skewers. He also offered unlimited rice, becoming the first quick-service restaurant to do so.

At the beginning, Sia had to work long hours and helped in the cleaning of the store. After which, he would prepare and marinate the chicken for the next day. Sia also had no system for running the operation and no commissary to supply the raw materials. Not long, Sia’s Mang Inasal became a critical success in Visayas. Within a year, Sia opened another branch in Roxas City. In the second year of operations, he opened six more and in the third year, another 20. Success and expansion Sia had a lot of franchise inquiries but he held off until 2005.

He joined the Philippine Franchise Association. Not long after, he brought the Mang Inasal to [[Luzon]. He also developed several monitoring procedures to safeguard quality and cleanliness. He also established a research and development team for product development. He also implemented advanced online supply ordering system for his branches. To date, there are 306 branches nationwide. Aside from Mang Inasal, Sia also revived the Deco in 2007 after he partnered with the owner’s children.

Deco is considered the original batchoy, started by a young butcher name Deco Guillergan Sr. in 1938. Acquisition of Jollibee Sia had plans of going public in 2010 but in October, publicly-listed company Jollibee Food Corporation announced it has acquired 70% of Mang Inasal Philippines, Inc. for P3 billion. Of which, Jollibee paid P200 million to the parent firm Injap Investments, Inc. , which still held the remaining 30%. In December, Jollibee paid the 90% balance while the remaining 10% will be paid over three years.

Mang Inasal’s total branch of 303 will contribute 5% to Jollibee’s worldwide system sales, five percent to its revenue and seven percent to its operating income. Sia and Ferdinand Sia will sit as part of the Board of Directors of Jollibee. Awards Sia was the Small Business Entrepreneur winner handed out by Ernst and Young in 2010. He also received the Urban Leadership Award from the Canadian Urban Institute because of his outstanding contributions to the enhancement of the public realm and the quality of life in the Metro Iloilo-Guimaras area.