By: Iris Gonzales, Philippine Star
Property tycoon Injap Sia II’s MerryMart Grocery Centers Inc. signed its first franchise deal as part of efforts to put up 1,200 branches and generate P120 billion in systemwide revenues by 2030.
The revenue will come from MerryMart’s different formats — MerryMart Grocery, MerryMart Market and MerryMart Store.
The first franchise MerryMart Store will be located beside Mang Inasal in Mambusao Sigma road in Capiz province.
Sia said the first franchisee of MerryMart is also the first franchisee of Sia’s Mang Inasal, the chicken barbeque chain he founded but was later acquired by Jollibee Foods Corp. MerryMart’s first franchisee is entrepreneur Arturo Oñas.
MerryMart Store is the household essential store format of the MerryMart Group. It combines the mini grocery, pharmacy, health and beauty lines with average store size of about 250 square meters.
The 3-in-1 innovation and expansion through franchising is expected to bring in operational efficiencies and enable MerryMart to rapidly scale up and build up durable competitive advantage. Franchising also creates business opportunities for many budding entrepreneurs.
In preparation for its rapid growth, MerryMart will also soon be available in both online and offline channels.
Read the full story HERE.