MANILA, Philippines — Asian food conglomerate Jollibee Foods Corp. (JFC) is targeting to become a franchisor of choice in the quick service restaurant (QSR) industry.
JFC president and CEO Ernesto Tanmantiong told the company’s stockholders during their annual meeting yesterday that the group would ramp up franchising in key markets globally as part of its expansion.
“Franchising allows JFC to expand its network and brand presence with minimum capital allocation. Our goal is to be a franchisor of choice in the QSR industry by attracting and nurturing top tier franchisees,” Tanmantiong said.
“We aim to achieve this by partnering with financially strong, capable and culture fit master franchisees that brings significant scale, access to capital and deep local market expertise,” he added.
To support JFC’s franchising goal, Tanmantiong said the group continues to strengthen corporate capabilities for its franchisees in key areas such as quality management, digital technology, supply chain, network development and marketing.
“We believe that our portfolio of strong and resilient brands will not only continue to draw in customers, but also provide attractive returns to current and our potential franchisees,” he said.
JFC has set a strategic roadmap for the next five years as part of its vision to be among the top five restaurant companies in the world.
The group is aiming to triple its value in terms of net income attributable to equity holders of the parent company in five years.
“With our portfolio of strong, valuable brands, the support of our global team, and our consistent efforts to drive long-term growth, we are confident in our ability to deliver on this goal,” Tanmantiong said.
JFC’s growth strategy includes scaling the business in four key areas, which are expanding Jollibee brand internationally, growing its coffee and tea business, exponentially growing in China and sustaining robust growth and market leadership in the Philippines.
“The Jollibee Group will capitalize on these important opportunities to grow our business with strategic partners and investments and continue to create both near and long-term value for our stakeholders,” Tanmantiong said.