Bo’s Coffee eyes wider global branch network in four years
HOMEGROWN coffee retailer Bo’s Coffee plans to expand its store network to 400 outlets by 2030, continuing its domestic and international growth plans despite geopolitical uncertainties, its founder said.
“We’re on the second year of our five-year plan, so by 2030, we’re targeting around 400 stores,” Bo’s Coffee Founder and Chief Executive Officer Steve D. Benitez told reporters on the sidelines of a franchising event on April 23.
The company recently opened its 200th store in Cebu, which includes its first drive-through branch, and is targeting 25 to 30 more stores this year.
Mr. Benitez said expansion plans remain on track, although franchise demand has softened in some markets.
“There has been a softening appetite for franchisees, but we’re still growing as planned,” he said. “That impact will be really felt more next year.”
He said the company continues to focus on markets with large Filipino communities, while reassessing some international opportunities due to external risks.
“There are some countries that are not as affected as the Philippines, but we still have to reassess that,” he said.
Bo’s Coffee’s expansion pipeline includes North America, although some plans have been delayed.
“We also had a signed agreement for Canada, but that has stalled also because of the crisis,” he said, referring to the US-Israel war on Iran.
In the Middle East, the company’s licensed partner in Doha has opened two stores and is targeting three more branches this year.
The company is also expecting new outlets in the Gulf region, including two stores each in Dubai and Kuwait.
“We signed up Kuwait sometime in December, and then the crisis hit,” Mr. Benitez said. “But they’re pushing through. It’s just a matter of when they will put up their first store.”
Despite delays in some markets, the company said it remains committed to long-term growth, balancing domestic expansion with selective overseas franchising. — Beatriz Marie D. Cruz
