How to Franchise: Goto King
When it comes to comfort food, you’ll surely not miss a bowl or two of Pinoys’ go-to cheap yet hearty meal “goto” — a rice porridge with ox tripe.
Aside from the warmth it gives especially on a cold weather, a Goto can be an interesting business opportunity to venture into. Let’s have a look on how to franchise a royal brand in this category, Goto King.
About Goto King
Goto King started as a simple 2 x 2 meter cart inside the food court of SM Cubao in 1984. Under the supervision of Cater King Food Corp., a single proprietorship established by Teresa Dula Laurel, the single cart sells Goto, Lugaw, and Tokwa’t Baboy.
Because of its successful concept of offering an affordable staple street food, Goto King introduced additional merienda items such as Pansit, Dinuguan, Batchoy, and Halo-halo, to name a few. After a decade of operation, Goto King expanded its reach by offering franchising, with the first franchised store opening in V. Luna Road, Quezon City in 1994.
Today, it has a network of 26 outlets locally in Metro Manila, Cavite, Batangas, Cagayan, and Cebu and one abroad in Abu Dhabi, UAE.
Franchise Packages and Franchise Fee
Interested franchisees can choose among four franchise package options:
- Independent requires a floor area of 76 to 150 square meters with an investment range of P2.5 million to P5 million including the franchise fee of P450,000, good for five years.
- Food Court has a size of 20 to 40 square meters amounting to P1.8 million to P2.5 million that also covers the franchise fee of P420,000 for a five-year contract term.
- Big Kiosk which measures 11 to 15 square meters, with franchise investment of P1 million to P1.6 million inclusive of P380,000 franchise fee for a 3-year contract.
- Small Kiosk which measures 6 to 10 square meters available at P800,000 to P1.2 million inclusive of P380,000 franchise fee for a contract period of 3 years.
The quoted investment amounts are still exclusive of the 12% Value Added Tax (VAT).
Already included in the franchise fee are refundable deposits, including Food Deposit of P50,000 to P300,000 depending on the store type and Security Deposit required by the lessor.
In addition to these costs, franchisees still have to pay a Service Fee amounting to P25,000 or 4% to 6% of monthly gross sales, whichever is higher.
The franchise investment includes the following benefits:
- Feasibility Study
- Design and Construction
- Kitchen and Restaurant Equipment
- Signages, Menu board and Outlet Décor
- Air Conditioning system (when applicable)
- Training of the Management Team and Crew
- Operations Manual
- Marketing Support for Store Opening both Soft and Grand
- Miscellaneous and Others
Take note, however, that not all licenses and government permits are included in the Franchise Fee. Only those relate to leasehold improvements will be processed by Goto King.
Franchise Application Process
Here’s the step-by-step procedures to acquire a Goto King Franchise:
1. Send a Letter of Intent with a site proposal to:
- Mrs. Teresa Dula Laurel
- President/ COO
- Address: 159 Kamias Road Quezon City, Metro Manila
- Email Address: email@example.com
- Fax Number: (02) 9223206
Goto King can assist in looking for a location in case a franchisee has non.
2. Fill out and submit the following documents to be sent by Goto King once the Letter of Intent is received:
- Franchise Initial Inquiry Form (may be downloaded from the website)
- Franchise Application Form
- Franchise Evaluation Forms 1 and 2
3. If Forms1 and 2 are approved, Goto King will schedule a meeting to discuss detailed procedures and requirements.
4. Pay a Reservation Fee of P30,000.00 (non-refundable) which can be applied to the Franchise Fee. Upon receipt of said fee, Goto King commences the preparation of Financial Projections.
5.Once the franchisee accepts the Financial Projections, the signing of the Franchise Agreement will be scheduled.
Franchising Contact Details
Do you still have questions? Better to contact Goto King with these details:
Email Address: firstname.lastname@example.org
Telephone Number: (02) 9285893 (Look for Mel)
Fax Number: (02) 4335208
Address : 159 Kamias Road Extension Sikatuna, Quezon City, Philippines
For more franchising options, click here: Complete list of Philippine companies available for Franchising
Information and Image Sources: Franchise Manila, Franchise Business Philippines, Food Cart Franchise Philippines, Pinoy Entrepreneur, Entrepreneur, PhilStar Global, Official Company Website
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