Figaro Coffee Group Inc. is betting on franchising to accelerate store network expansion.
Figaro said in a disclosure to the stock exchange it is expecting more investors to start venturing into franchising with the continued reopening of the economy.
“With a concrete strategy now in progress that’s boosting the company’s performance towards reaching its year-end goals, The Figaro Coffee Group is definitely seeing more and more existing partners coming back to franchise yet again,” the company said.
It said Clover Arangote, an investor from Western Visayas, franchised and opened two Angel’s Pizza stores in Iloilo while one is currently in the works and will be launched in Aprilin Bacolod. “At the very start, we had high confidence that Angel’s Pizza will be loved by the Ilonggos considering the high quality of the products and its value for money,”Arangote said.
“But apart from that there’s also a fast-growing market for pizza since the onset of the pandemic considering people became fond of ordering online or through 3rd party delivery services,” he said.
