Max’s Group, Inc. (MGI) will be focusing on franchising its brands to fast track expansion until 2020, targeting to have a 65% to 35% mix of franchised versus company-owned stores.
The listed casual dining restaurant group plans to roll out 80 to 90 new stores this year. Fifty-five out of the 74 located locally is set to be franchised, according to MGI President and Chief Executive Officer Robert F. Trota.
“We have established already what we wanted, as we have a portfolio of 35% franchised to 65% company-owned. The intent is to reverse that in the next three to five years where it will have more franchise outlets in the pipeline reaching to 1,000 stores by 2020,” Mr. Trota said in a press briefing after the company’s annual shareholders’ meeting in Quezon City on Wednesday, May 9. — Arra B. Francia