Goldilocks to whip up more stores by year end

MANILA, Philippines - Goldilocks, a local bakeshop and restaurant popular for cakes and desserts, is targeting to open as many as 30 stores by the end of the year. Goldilocks franchise relations manager Lin E. Deres told GMANews.TV the stores would be equally divided between the company and franchisees. By the end of 2009, Goldilocks plans to have about 318 stores. Goldilocks has two store concepts: bakeshop and the other as food store/ restaurant and bakeshop. A bakeshop requires an investment of between P6 million and P8 million, while the restaurant/bakeshop will need between P10 million and P13 million. “We are focusing on the Philippines. There are still a lot of opportunities available here particularly in Visayas, Mindanao and Northern Luzon," Deres said. Although Goldilocks has 19 stores in the US and two in Canada, Deres said the company is presently opting to be more aggressive in the domestic market. “Expanding abroad is still part of the long-term plan but not now. Eventually (we may expand overseas again)…depending on the market," she said. Listed Lorenzo-owned Pancake House had earlier attempted to acquire Goldilocks but negotiations bogged down. GMANews.TV