Local food chain Binalot to compete with Jollibee, McDo

Binalot Fiesta Foods Inc., the owner and operator of the Binalot fast food chain, is seeking to double the number of its outlets next year. A top official said the company is now aiming to be a direct competitor of giants such as Jollibee and McDonald’s. Rommel Juan, Binalot president, told reporters that the company is planning to increase its outlets to 80 in 2008. Presently, Binalot has 35 outlets and by the end of the year will have a total of 41. “We’re moving into the big league and we’ll soon be moving out of the food court area and look for stand-alone which can accommodate 30 to 60 seats and will occupy 30 square meters to 100 square meters," Juan said. Jollibee Foods Corp. is the Philippines's number one fast food chain operator. Aside from the Jollibee brand, Jollibee Foods also operates Chowking, Greenwich, Red Ribbon, Delifrance and China's Yonghe King. Juan said the new Binalot outlets would be located mostly in Metro Manila but will also include areas in Laguna and Pampanga. Most of the new stores, he said, will be franchises. Although the company is in an aggressive expansion mode, Juan said Binalot is targeting to list in the Philippine Stock Exchange sometime in 2012. Last year he said Binalot’s sales grew 20 percent while net income also grew by double digit. - Cheryl Arcibal, GMANews.TV