Mang Inasal’s P3B success secret By Ned Roberto, Ardy Roberto Philippine Daily Inquirer First Posted 23:43:00 10/21/2010

MANILA, Philippines—How does one go from one restaurant in his neighborhood mall to selling 70 percent of his company for P3 billion in seven years, selling Ilonggo-style native grilled chicken? Two weeks ago, we talked about the finalists of the 2010 Entrepreneur Magazine Entrep10 Awards program. But the entrepreneur whose name was splashed all over the business headlines over the past few days is Edgar Injap Sia III, the founder of the ubiquitous Mang Inasal. The Jr MarketingRx was one of the judges in the 2009 Entrepreneur Magazine Top 10 Awards that gave four thumbs up (including the “thumbs” of my feet) to Sia III during the judging process. Mang Inasal’s success would make any entrepreneur green with envy: - from one store in Robinson’s mall in Iloilo in 2003 to 303 stores as of today - P3.8 billion in sales a year - sold 70 percent of his Mang Inasal’s holding company (Injap Investments Inc.) for P3 billion to Jollibee Foods Corp. He will be paid a P200 million deposit and 90 percent within 30 days of closing of the deal; the rest will be paid over the next three years. - Sia is only a little over 30 years old! According to the data and articles that Entrepreneur Magazine gave us judges (we were trying to get a hold of Edgar, our fellow GoNegosyo Angelpreneur and a recent Most Inspiring Young Entrepreneur of Year Awardee, for his comments) here are the five secrets, yes, I know, five again, to his P3 billion success: 1.) Ready, fire, aim! Sia was presented with an opportunity when a slot at the Robinson’s mall in Ioilo became vacant. He reserved the space without knowing what to put up. His gut just told him that there was an opportunity since he saw potential in the space. After a few short weeks, he

a student or office worker can have a filling tasty. He realized it was going to be lots of work.) Think marketing. Then he would come home and help prepare and marinate chicken for the next day. For P49. His work ethic and attitude brought him through lots of disappointments and trials. I only visited once a year. value-for-money type of Inasal restaurant. He wasn’t afraid of getting his hands literally dirty. copy and add something of value. because I was born and raised in the Visayas. you can have your own Mang Inasal franchise. 5. 4. Sia entered the Inasal scene late. Mang Inasal was the FIRST Chicken Inasal restaurant that offered quick service with unlimited rice. He did the right thing by networking and getting help from the Philippine Franchise Association (PFA) and coming up with a franchise opportunity that was affordable. the name Mang Inasal. But he simply did the “positioning” game of Al Ries and Jack Trout and scored a slam dunk. 2.came up with the concept of a Chicken Inasal fastfood store. (Total investment is about P3 million to P4 million). His approach to expanding to Metro Manila and Luzon was the same: “I was not very familiar with Manila. After his first franchise offer in 2005. (sometimes you see the price: P49) and a bold tagline: “Unlimited Rice!” . 3.000. All you see is a picture of a tasty-looking piece of grilled chicken.) Work your butt off! Sia worked his butt off day and night.) Think BIG! Sia started getting franchise inquiries fast. grilled chicken meal. Simple innovation pays dividends. but he didn’t give up.) Think innovation. So I knew I was in for quite a challenge taking Mang Inasal to Luzon. He was known to work long hours and help mop and clean up the first store. but held off for two years before offering the first franchise. there are now over 300 branches/franchisees.” Sia said. For a start-up franchise fee of about P800. The first fastfood. and it was usually for very short stays. The marketing message of Mang Inasal remains simple and focused. Just don’t copy.

Send them to MarketingRx@pldtDSL.Given the success of the business. Mang Inasal. will surely inspire many entrepreneurs and marketers for years to come. aka Mr.net or DrNedmarketingrx@gmail. the young Sia.com. God bless!) . (We welcome your comments and questions.

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