By developing more than 15 ways to cook peanuts and radically improving the quality, World of Nuts Corp. has succeeded in transforming the branding of peanuts from a mere street food to a mall favorite.
And in doing this, World of Nuts has also made its trade name Peanut World a sought-after brand for those who are seriously pursuing a franchise business.
Josephine See, who has stopped practicing her profession as an optometrist to concentrate on her business, established World of Nuts Corp. with her husband in 1996, and started franchising the business in 2006. Thirteen years hence, Peanut World is now present in 54 locations, 17 of them belonging to franchisees, and the majority company-owned.
The franchise cost is P200,000 all-in. The package includes the cart, equipment, training, uniform, use of manuals, right to use the logo, and initial inventory worth P12,000.
Branded Street Food
Josephine said the average period for ROI (return on investment) is six months. And to prove that the business really rakes in good profits, some of her franchisees already have multiple outlets, including her first franchise partner from Batangas City.
“Our product is street food but we (upgraded its status). We positioned it in the malls and (made its) quality very different from the street food that (Filipinos) are used to,” World of Nuts Corp. owner Josephine See told Entrepreneur Online.
Josephine narrated that she used to buy peanuts from a stall near the store of her husband’s family. But even if she has always been a peanut-lover, she said there came a time when she no longer enjoyed it because the varieties were limited.
It was then when she thought of developing different ways to cook peanuts. Some of the varieties she formulated are the super garlic, adobo skinless, oven-baked, greaseless, and spicy, which would later become her best-sellers.
“I researched and decided to put up my own stall with different varieties of peanuts. So while others only have five varieties, we have about 15,” she said.
Josephine put up her first outlet at the Gotesco Grand Central Mall in Caloocan City with a start-up capital of less than P20,000 covering the P8,000 rent, P5,000 for the second-hand cart that she bought, and operating budget.
The flavors she developed caught the fancy of the mall-goers. Her peanuts also have longer shelf life because they make it a point not to re-use the oil they’re cooking it in. They also refrain from using MSG.
Tailor Fit for Malls
With the quality of her peanuts and the branding she created for the company, Josephine said Peanut World has also earned the interest of the big malls. This is why Peanut World is mostly located inside malls.
Aside from exploring on the peanut variants, Josephine has also revised the design of her carts at least four times now, the better to suit the mall-going market.
Today her franchisees include professionals, overseas Filipino workers, a certified public accountant, a doctor, a pharmacist and an architect. “Even if our product is simple, we have a good profile of franchisees. They really saw the potential of the business,” she said.
Josephine expects to end the year with 75 outlets.
Peanut World can be reached through www.jmpeanutworld.com, Tel. No. (632) 7438853 and email@example.com.