VMC ASIAN COLLEGE FOUNDATION, INC.

28 National Highway, Tacurong City, Sultan Kudarat

Tel No. 064-200-6466/ Fax No. 064-477-0354
officialvmcacfi@gmail.com

Name: Dichosa, Atasha Isabelle F.

Subject: Entrepreneurship
Grade/Section: 12 HUMSS - Archimedes
Teacher: Pearl P. Aquiliño

Instruction: Research on the life stories of atleast three entrepreneurs in the Philippines,
identify how they started their business.

1. Tony Tan Caktiong (Jollibee Foods)

The cheerful tagline “langhap sarap” – a Jollibee trademark – is well-known among
Filipinos.
Tony Tan Caktiong, another Chinese immigrant, is the brains behind this popular
food chain. His family maintained a Chinese restaurant in Manila at the time, which
enabled him to finish college. He bought an ice cream shop in 1975, but owing to low
sales, he decided to add other items such as fried chicken, fries, and burgers. Customers
came to the store to buy his products after word spread in his area. Caktiong was able to
expand across the country after embracing the fast-food business model, growing his
humble restaurant into one of the Philippines’ most successful businesses. Furthermore,
by establishing a franchise, he has been able to break into the international market. With
over 2,500 outlets in the Philippines and locations in the United States, China, Saudi
Arabia, Vietnam, Singapore, Brunei and the UK, Jollibee is a fast-food behemoth.
2. Socorro Ramos (National Book Store)
Socorro Ramos began her career in publishing and retail as a salesgirl in
bookshop. With a capital of PHP200, she and her husband launched National Book Store
in Escolta at the age of 19, selling books and school supplies to children. The Japanese
imposed censorship on books and publications at the time, which included her burgeoning
business. She and her husband supplemented their income by selling other products
such as candles and soaps. The Ramoses built a nine-story structure along Avenida after
the postwar boom brought increased revenue for the company. Ramos adopted a hands-
on approach to running her business, even designing the company’s logo herself. The
National Book Store now has around 3,000 employees. At the age of 98, Socorro Ramos
is worth an estimated USD 3.1 billion, making her one of the country’s richest people.
3. Edgar Sia (Mang Inasal)
Edgar Sia, the brains behind Mang Inasal, is widely regarded as the Philippines’
pioneer in limitless rice meals.
Sia, who is native to Iloilo City, dropped out of college at the age of 19 to start his
own laundry and photo-developing business. Sia, then 26 years old, decided to launch
the fast-food restaurant Mang Inasal – meaning “Mr Barbecue” in his native Hiligaynon –
in 2003. In his hometown, the first branch was erected in a mall parking lot. The restaurant
was a huge success. Jollibee’s Tony Caktiong bought Mang Inasal for PHP5 billion after
hearing about Sia’s growing business. Sia invested the proceeds from the sale of Mang
Inasal into banking and healthcare. He is the country’s youngest billionaire, at the age of
42.