Company name: Seaoil Philippines Inc.
Investment cost: P4 million to P12 million
Investment Recovery Period: 3.5 years
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SEAOIL PHILIPPINES INC.
22/F The Taipan’s Place Bldg,
F. Ortigas Jr. Ave. (formerly Emerald Ave.),
Ortigas Center, Pasig City
Telephone: (02) 397-1010 loc. 889
Fax: (02) 531-6462
People behind the company: Francis Glenn Yu, the current president and CEO of Seaoil
What it does: Seaoil is an oil refilling station that now has a total of 146 branches—141 franchised and five company-owned—nationwide
When ti started: Yu established this business in 1978, with just P30,000 as initial capital.
How the company grew: By offering cheaper prices. Seaoil is selling fuel at an average of 30 centavos lower than the price of its larger competitors.
To read this entrepreneur’s amazing success story, please grab a copy of Entrepreneur Magazine Philippines’ July issue, available in all bookstores and Mini-Stop branches nationwide.