Pilmico Food Corp. is targeting to build two more company-owned stores carrying its The Good Meat brand of products this year while also expanding franchise-owned ones.
Tristan Aboitiz, Pilmico and Gold Coin Group president and chief executive officer, said in a virtual briefing last week the two company-owned stores may cost P20 million to add to the current four The Good Meat stores directly operated by the firm.
“Aside from our own stores, we started offering the opportunity to open up franchises in October of last year…we have signed four franchisees,” Aboitiz said.
Aboitiz said the four are eyeing to open shops in Taguig; Binan, Laguna; Quezon City and Nueva Ecija.
“We’re looking to add another six franchise stores by end-2023. Our goal is a ratio of 20 percent company-owned and 80 percent franchise. We’re really looking to take advantage to expand not just our ability to serve areas where the stores have opened and to increase our ability to distribute our products in a wide range manner through sales online,” Aboitiz added.
The Good Meat line of products is also present in 298 supermarkets and seven convenience stores. Pilmico operates as concessionaires in 68 of these stores. The Good Meat is also available in online channels.
“Moving forward, we’re fairly comfortable at the 300 level as far as the supermarket/ and convenience store number goes. We’re looking to move concessionaire number from 68 up to about maybe 80 in 2023,” Aboitiz said. – Jed Macapagal
