How to Franchise: Bibingkinitan
As Filipinos, we look forward to the Christmas season not only for the gifts and decorations but also for the holiday food we love to share during family get-togethers. Thanks to Bibingkinitan, we can keep enjoying our favorite Christmas food bibingka all-year round!
Are you interested to have your own franchise of Bibingkinitan? Keep reading below to learn more about Bibingkinitan’s franchise fee and application requirements.
Bibingkinitan’s success story began with the dreams of young entrepreneur Richard Sanz. In 2004, at age 23, he left his job at a multinational firm and set up a small beverage stall in Alabang Town Center. Although the venture was a success, he felt that the business still had a lot of room to grow. Upon asking for suggestions from his family, Richard came up with the idea of selling their favorite rice cake, bibingka. In 2006, Bibingkinitan finally kicked off into business.
Aside from the best-selling original “bibingkinitan” (literally, “miniature bibingka”) – a bite-sized rice cake topped with salted egg and cheddar cheese, customers may also choose from a variety of other flavors:
- Fruity rice cakes (banana, mango and buko)
- CheeseMax (filled with cheese)
- Overload (more toppings)
Bibingkinitan is a part of FoodAsia Corporation which now also houses brands like Lava Cheese Tarts, WuffWich, and The BBQ Shack. Since 2004, FoodAsia has grown into a large-scale company with interests in retail, food manufacturing, food service, and franchising.
Franchise Fee in the Philippines
Bibingkinitan currently has over 200 locations nationwide and 2 branches in Dubai. The company’s target is for 70% of outlets to be company-owned, while the remaining 30% to be managed by franchisees.
Bibingkinitan’s franchise package is inclusive of the following:
- Use of trademark and logo
- Operations manual
- Initial inventory
- Store setup complete with equipment and signages
- Site and evaluation support, on-site training, crew uniforms, store opening assistance, and ongoing marketing and operations assistance.
If you are franchising in the Philippines, the franchise package comes in three choices: (1) cart; (2) kiosk; or (3) kiosk with seating.
These are Bibingkinitan’s franchise fees for each food outlet option:
- Food Cart – P570,000
- Kiosk – P695,000
- Kiosk with seating – P845,000
The store area requirement is 4-6 sqm for carts and kiosks and 20-30 sqm for kiosks with seating.
On top of the franchise fee, franchisees also need to pay a royalty fee of 2% of gross sales. The standard franchise term is 3 years and franchise contract renewal costs P50,000.
An exclusive territory franchise is also available but the fees will vary depending on the location.
According to the company CEO Mr. Richard Sanz, the return on investment (ROI) or payback period for a Bibingkinitan franchise with investment of less than P1 million is usually one (1) year to 1.5 years. Meanwhile, for franchises with a higher investment, such as P3 million or above, the ROI payback period is usually 3 to 5 years.
International Franchise Application
For those interested to franchise Bibingkinitan abroad, the international franchise fee is USD 120,000 for a master franchise and USD 10,000 for a single-unit franchise (which may be converted to a master franchise).
To apply for a franchise, visit FoodAsia’s website below and complete and submit the online franchise application form.
Head office: 12th Floor Asian Star Building, Asean Drive, Filinvest City, Alabang, Muntinlupa City, Philippines
Telephone: (02) 8-464 646
Bibingkinitan Facebook page: facebook.com/Bibingkinitan-Mini-Bibingka-53487536456/
Food Asia Facebook page: facebook.com/foodasiagroup/
Looking for other food franchises? Check out PinoyMoneyTalk’s List of Philippine companies available for Franchising
Information and Image Sources: FoodAsia Corp. Website, Bibingkinitan Facebook Page, Entrepreneur Magazine Philippines