IFUEL, the petroleum company of iFranchise Business Services Corp., is looking to expand its retail presence to reach 100 gasoline stations next year by offering discounts to retiring overseas Filipino workers (OFWs) and others who want to set up their own business.
“We still do not have an exact amount for the discount we can give for the OFWs but we are already looking into it so we can implement it sooner,” iFUEL President and Founder Krizzia Ann T. Loyang said in a virtual briefing on Monday.
Ms. Loyang, who worked as an OFW for three years, said the offer is for Filipinos abroad who are looking into settling back home once they retire.
“Aside from giving money to their families, at least they can own their own business with minimum capital,” she said.
Founded in 2018, iFUEL is set to open five stores this month to reach 30 for this year. Of the 30, five are franchises while 25 are company-owned.
The fuel franchising company said it will also offer lower fees for those who want to have their own station.
The franchise fee of each gas station is at around P6.5 million to P11 million, while the whole franchise cost including fuel supplies and other expenses is around P11 million to P15 million, depending on the land area.
Instead of paying these fees, franchisers just have to pay a P30,000 marketing fee.
“We are looking forward to positive bounce back and higher impact of expansion next year,” Ms. Loyang said, adding that the franchising business was hard hit by the pandemic. — MCL
