5 tips to become the next 'Mang Inasal'
How you can become the next Edgar Sia.
Dec 12, 2011 16:00 pm
Only a few of us will become overnight millionaires as the person that won the hundred-million Grand Lotto jackpot. While many of us long to have the same good fortune, some of us get rich the old-fashioned way: by dint of hard work and doing good business.
[related|post]In that class belongs Edgar “Injap” Sia II, who became a billionaire—never mind if not overnight—when Jollibee Foods Corp. bought 70 percent of his upstart food company, Mang Inasal, in November 2010 for P3 billion.
But how did Injap exactly create his multi-billion peso brand? Entrepreneur.com.ph asked two experts to dissect how Mang Inasal became the brand it is today.
STEP 1: MOP THE FLOOR
Much is said of being hands-on with your business, but with Sia, who started Mang Inasal at 26 years old, he couldn’t be hands-on enough.
“It has been said many times that Injap would mop the floors of his first few restaurants. This speaks volumes of his humility and character,” says Lex Ledesma, a native of Iloilo province who is the executive director of The One School and a serial entrepreneur himself.
Incredibly, Sia was doing these menial jobs at Mang Inasal while running four other businesses in Iloilo: Injap Color Express, a photo-developing shop; the Four Season Hotel, which he founded with two friends; Holland Water, a water-refilling station; and Mister Labada, a laundry shop.
Also, as his business was expanding, Sia insisted on personally knowing a place where a Mang Inasal branch would be put up. As a result, “Injap has a thorough grasp of locations in the country,” says Armando “Butz” Bartolome of GMB Franchise Developers, whom Sia approached to help build Mang Inasal’s franchising operations. “He traveled to every town using various means of transportation and staying in any type of hotel. It was his way of understanding the culture and habits of each town.”