Mang Inasal Founder Sia Wins SME Award

Article excerpt

MANILA, Philippines - Globe Negostar Edgar "Injap" J. Sia II, Chairman and CEO of Mang Inasal Philippines Inc., braved the fast-food industry that is dominated by big players and proved that nothing is impossible.He grew Mang Inasal to more than 300 stores in seven years and hopes to reach 500 branches by the end of 2012. Last October 12, the fast growth and aggressive expansion of Mang Inasal nationwide earned Injap an achievement - the Small Business Entrepreneur award at the Entrepreneur of the Year Philippines 2010.Mang Inasal showed that it can be done. Injap said stick to the plan no matter what and work very hard at it.He strongly believes nothing is impossible and Mang Inasal's story is a living proof of this.Contemplating on a business he can expand on a nationwide scale, Injap was offered a space at a discounted rate at Robinsons Place in Iloilo City in 2003, the site of the first Mang Inasal store. He grabbed it and was asked to open up a business that is into food as the site was developed to be a food strip. Keeping his top priority in mind, the nationwide expansion, he saw the opportunity of starting fastfood chicken inasal.Injap borrowed P2 million from his father and another P400,000 to start Mang Inasal and embarked on growing the business to capture and conquer the market. Nine months later, he paid back his father and Mang Inasal's expansion was unstoppable. Injap said he had planned the growth of the business from the start, drawing up annual targets.But he had to change the 2012 target to 500 from 300 outlets as Mang Inasal achieved this number this year.Today, Jollibee Foods Corporation has made an unsolicited offer to acquire 70% of Mang Inasal for the purchase price of approximately P3 billion, while Injap Investments, Inc. will retain 30% ownership.The success story of Mang Inasal hopes to inspire Filipino entrepreneurs to dream big and pursue their dreams. …