How Teriyaki Boy became the common ground for success

When a telecom executive, an automotive parts businessman, a player in the petroleum industry and three other friends from their alma mater decide to venture into a joint business, a restaurant may be the last thing one imagines them setting up.

But Teriyaki Boy, the restaurant chain known for its fast-casual dining, was too appealing to pass up.

"Well, we were already thinking of what possible stores to open and one Sunday, my family and I had lunch at Teriyaki Boy in Gateway Mall," recalls Raymond Uy, our telecoms executive and the deputy managing director of 1968 Ventures, the company the group founded. "The food was good and we enjoyed our dining experience there. So that was where the idea came from and I suggested this to the group. We also tried other branches and also enjoyed the experience."

Since partner Edward Tan, our petroleum business player, had already plunged into the food business in 2000 by securing a franchise for Pancake House, it made sense to work out the idea.

It also helped that Teriyaki Boy is now part of the Pancake House group of companies. So Tan was familiar with the operations of the parent company. Among the partners, he was the only one who had any experience in the restaurant business.

Like real estate, location was crucial to the success of the venture. And like Tan’s happy alliance with Pancake House, each of the partners honed in on an area they knew best.

"We chose Banawe because we know the community," says Tan. "It is a place that is close to our hearts because we grew up in this area and we know the community. We also believe that there is already an established market in Banawe which we believe is ready for a Japanese restaurant like Teriyaki Boy."

In January of 2000, the partners of 1968 Ventures (so called because all six associates were born on the same year), applied for a franchise "and the franchise was awarded to us in March of the same year," recalls David Sy, our automotive parts businessman and managing director of the Teriyaki Boy franchise.

Things quickly moved from that point. "We started construction in June," Tan remembers. "It took us around 40 days to finish which amazed me since this was a big (160 seats) store." They targeted a July 24 opening which they met. "Everybody also in the community was also amazed because it was opened and put up quite quickly and all the equipment and materials were there in place."

Business has been brisk. "We expected it to be good but we did not expect it to be this good," Tan continues. "The store is producing very good sales figures for us. But I think what should be mentioned is the fact that all the partners are helping in promoting the store. Just imagine that there are six of us, all growing up in this community, doing their share in promoting Teriyaki Boy Banawe."

In addition to the record time they built the store from the ground up and the favorable and immediate reception of the community, they are proud of their varied clientele. While Teriyaki Boy is known for its colorful and hip interiors, comfortable lighting, friendly and courteous service and irresistibly tasty food, it appears geared to the young crowd.

Not so, says Tan. "In Banawe, there are some restaurants which just cater to particular age groups, but in Teriyaki Boy, we target the young ones, even the not so young ones. So we see a lot of children and teenagers who come in with their families. Initially we were also pleasantly surprised to see a lot of senior citizens who come and dine with us and these are the regular customers also of the other more prominent Chinese restaurants in Banawe. So I think that is the strong point of Teriyaki Boy Banawe."

To ensure the loyalty of its clients, and to continue to attract new customers, Sy and Uy personally check the items in their storage areas to make sure "we have proper quality products served to our guests everyday," Tan discloses.

"Also, we believe that since our customers are really very demanding, and since we are familiar with the community, we know our guests expect a lot from us. That is why we have decided from the start, even when we were just building the store that we must have no room for error."

This means investing in the proper kitchen equipment and the strict training of their key employees who ensure the safety and consistent quality of the food. Vegetables, fruits and certain seafood items are delivered every day. "We also make sure that these items are consumed within a span of two days," Sy reveals. "All other products are also sourced from the Teriyaki Boy Commissary to ensure that we are following the company’s product standards and quality."

They also make sure employees adhere to proper hygiene and cleanliness to make sure the food remains safe.

With requisites in place, 1968 Ventures have already thought of expansion. From possibly renting out a part of their space to accommodate special functions to opening another Teriyaki Boy franchise or two next year. The Banawe branch was Teriyaki Boy’s 5th franchise store and 19th branch; three more have opened since then.

After all, team already knows what Teriyaki Boy customers want. "We have very sensitive customers who always want value for their money," discloses Sy. "So we always do our best to accommodate our guests and provide them with excellent service and food. And we think that is why they come back to us again and again."