Greenwich to add more stores
Pizza and pasta restaurant eyes expansion via franchised-owned and company-owned outlets
Aug 13, 2010 17:00 pm
Pizza and pasta restaurant chain Greenwich is set to open more stores, both franchise-owned and company-owned, before the end of the year. [Read about Greenwich and other best homegrown franchises awardee in 2007 here]
Ariel Fermin, Greenwich president, said the five franchise-owned and 10 company stores to be opened this year will bring the total number of Greenwich stores to 265 by the end of 2010.
Greenwich is one of the brands under the Jollibee Foods Corp., which also owns and operates Red Ribbon, Chowking, and Delifrance, among others. [Read how rebranding helped Greenwich here]
Depending on the store size, a Greenwich franchise requires total investment of between P8 million and P10 million. The investment will cover the franchise fee, restaurant construction, equipment, furniture, fixtures, signage and initial inventory.
“On an average of about five years, one can recover the investments made,” Fermin said.
Citing “market research”, Greenwich claimed it corners about 75 percent of the Filipino pizza market.
“Our earnings is three times more than our closest competitor (a foreign brand),” Fermin added. [See five pitfalls to avoid in starting a food business here]
At present, Greenwich is renovating all its stores nationwide to unveil a new look.
“Greenwich has always been about friends and good food. We continue to offer them delicious new ways to bond with their bigatin friends with our two new equally bigatin pizzas” shared Luis Velasco, Greenwich marketing director.
Besides updating its look, Greenwich launched the latest addition to its menu – the new pizza flavors Hungarian Sausage & Bacon Overload and Shrimp & Garlic Overload.
A new dessert was also introduced — the Greenwich Pizza Cookie, a Butterfinger chocolate-stuffed cookie topped with a scoop of vanilla ice cream, chocolate syrup, and crushed Butterfinger chocolate. [Read about food businesses on P20,000 or less here]
34th floor, Jollibee Plaza Building ,
10 Ortigas, Jr. Avenue,
Ortigas Center , Pasig City