Shakey’s spending P1.3 B for more Philippine stores in 5 years

MANILA, Philippines - International Family Food Services Inc. (IFFSI), the operator of the Shakey’s chain of restaurants in the Philippines, is looking to spend as much P1.3 billion in the next five years for the expansion of its store network nationwide.

IFFSI general manager Jorge Concepcion said the company plans to open an average of 10 Shakey’s branches annually until 2020 at a cost ranging between P15 million to P25 million per store depending on size.

On top of the 50 company-owned outlets to be opened over the next five years, Concepcion said IFFSI is also eyeing 30 more franchised Shakey’s branches to open over the period to bring the brand’s total network to about 250.

IFFSI operates 165 Shakey’s stores to date and plans to end the year with 169.

Concepcion said the expansion in the coming years would be a combination of stores within and outside Metro Manila.

 “We still see pockets in Metro Manila that are underserved. Moving forward, what we’re looking at are bigger stores,” he said.

“We will not be expanding for the sake of having many stores. We will choose right locations where we feel have the demand,” Concepcion added.

Concepcion said sales across all its network are presently doing well. The company is targeting to have revenues of P6.5 billion by yearend from P5.6 billion last year.

IFFSI president and CEO Vicente Gregorio said the company is continuously scouting for new brands to introduce to the local market.

The company recently brought into the country American pizza chain Project Pie.