Max’s Group Inc., the country’s leading casual dining restaurant company, plans to open 60 to 70 stores this year both here and abroad as it continues to expand to new markets.
Max’s Group president Robert Trota said in an interview at the sidelines of the annual stockholders meeting the company was negotiating new franchise deals on several brands in line with its goal to establish 200 stores abroad by 2020.
Max’s Group at the end of 2016 operated 49 stores overseas. It also has a pipeline of 140 outlets slated to open abroad in the next few years.
“We have a lot of interests on our franchisees for our various brands. We also have a lot current franchisees what would want to get other brands for same area, same territory but multiple brands” Trota said.
The group since the start of the year signed two franchise deals that will bring its pizza chain Yellow Cab in Kuwait, Bahrain Oman and Vietnam.
Trota said the company in terms of markets planned to further expand its presence in North America, Middle East and Asia.
He said there was also room for growth in China, Vietnam and Singapore after expanding to Southeast Asian countries.
Meanwhile, Max’s Group chief finance officer Dave Fuentabella said the current strong market conditions was offering the company opportunities to remain aggressive with its store expansion in the Philippines.
Max’s Group plans to put up 1,000 stores in the Philippines and strengthen the delivery service after posting a 24-percent sales growth in 2016 to P1.08 billion.
Trota expects sales from delivery service this year to grow between 20 percent and 30 percent, with the company expecting to benefit from its recent move to consolidate under one singular delivery system five major brands, namely Max’s Restaurant, Yellow Cab Pizza, Pancake House, Krispy Kreme and Teriyaki Boy.