Franchise Talk: BonChon, Figaro, Wendy's--How Much Do You Need to Own These Big Food Chains?
As seen on Entrepreneur.com.ph:
Filipinos love to eat. No wonder the local food service industry continues to grow. According to the latest nationwide Census of Philippine Business and Industry (CPBI), the Philippine food service industry is worth roughly $7.2 billion (Php385.4 billion), with an annual growth rate of 15 to 20 percent for the past couple of decades.
Fast-food joints and casual dining restaurants, in particular, continue to expand nationwide thanks to the growing demand for convenience. For any aspiring food entrepreneur or restaurateur, investing in a leading restaurant franchise makes good business sense, as this allows them to set up a food business that is already backed by a proven system and a reliable support network.
To get you started, here are the investment requirements of big restaurant chains such as BonChon, Figaro, Angel’s Pizza, Subway and Wendy’s.
Total investment: Php14 million to Php16 million
Who doesn’t love BonChon’s perfectly crisp and savory Korean fried chicken?
This South Korean quick-service restaurant has captivated both the East and the West since 2002. It has since mastered its unique frying technique, which ensures that their fried chicken coating will remain crispy as it absorbs BonChon’s signature glazes. In its quest to constantly reinvent itself and its customers’ food experience, BonChon has also introduced a more modern restaurant ambiance and new menu items such as bingsu shaved ice dessert and Korean beef stew, among others.
Franchise fee: Php600,000 (cart), Php900,000 (kiosk), Php1.5 million (full store)
Total investment: Php3.2 million (cart), Php5.5 million (kiosk), Php7 million (full store)