Max’s Group Inc. (MGI) is “on track” to open 80 to 90 stores this year across all of its restaurant brands, and claims there is going to be a “surge” in new store establishments in the third quarter of next year.
Already up and running are nearly 20 stores, with others to open later in the year, said President Robert Trota.
“I think there will be a surge in the third quarter of next year… They all want to hit the Christmas break… So almost all the mall developers are turning over in the third quarter,” he added.
The store expansion plan this year entails a P500-million budget, and covers nine stores abroad, the total of which consists of 66 percent company-owned stores and 34 percent franchised outlets.
“We’re trying to keep a balance ratio of franchisees, versus company owned. But more important is the location… That will determine whether we want to make it a franchise or not. If [it is in the]outskirts, far-flung areas, down south or something, it would be more prudent if it was a franchisee from the area. It is more advantageous, especially if they speak the dialect, know the community,” Trota said.
Asked if the company is looking at bringing a new international brand in the Philippines, MGI Chief Financial Officer Dave Fuentebella said there are “some talks” but nothing definite.
“The last we brought in was Jamba Juice in 2012. So far, there’s none yet. There are some talks, but none disclosable. We’re always talking with others which are now in various stages, but there’s nothing yet that we can disclose,” Fuentebella said.
The company reported P140.2 million in net income during the first quarter from a net loss of P23.8 million in the same period last year.
Consolidated revenues rose by 159 percent to P2.4 billion.