Shakey’s Pizza Asia Ventures, Inc. (SPAVI) looks to have an equal mix of franchised and company-owned stores, as the company targets to open 18 to 20 new outlets each year for the next three years.
“We see a shift to a more 50-50 franchised to company-owned stores within the next couple of years,” SPAVI President and Chief Executive Officer Vicente L. Gregorio told reporters in a briefing after the company’s annual shareholders’ meeting in Ortigas Center yesterday.
The listed casual dining restaurant currently operates 217 stores nationwide, 60% of which are company-owned while 40% are franchised. Mr. Gregorio said the 50-50 target can be achieved as they expand toward the Visayas and Mindanao (VisMin) areas.
“VisMin continues to become the big potential moving forward. They’re under penetrated. We continuously receive inquiries there, we just opened a franchised store in Ormoc. And there are other second-tier cities that we are studying and evaluating,” Mr. Gregorio said. — Arra B. Francia