Aboitiz-led food and agribusiness unit, Pilmico Food Corp. targets to build two more company-owned stores carrying The Good Meat brand of products this year while also expanding franchise-owned ones.
Tristan Aboitiz, Pilmico and Gold Coin Group president and chief executive officer, said the planned company-owned stores cost around P20 million and add to the four The Good Meat stores directly operated by the firm.
“Aside from our own stores, we offered the opportunity to open up franchises in October last year. At the end of the day, the opportunity is open to anybody who’s interested in offering our products to their communities. Since we launched in October, we have signed four franchisees.”
Tristan Aboitiz, Pilmico and Gold Coin Group president and chief executive officer
Aboitiz said the franchisees plan to open their shops in Taguig; Binan, Laguna; Quezon City and in Nueva Ecija.
“This is something we’re looking to grow in a measured pace. We’re looking to add another six franchise stores by end-2023. Our goal is a ratio of 20 percent company owned and 80 percent franchise. We’re really looking to take advantage to expand not just our ability to serve areas where the stores have opened and to increase our ability to distribute our products in a wide range manner through sales online,” Aboitiz added.
Pilmico said The Good Meat line of products is carried by 298 supermarkets and seven convenience stores.
Of the 298 supermarkets, Pilmico operates as concessionaire in 68 of the entities.
“Moving forward, we’re fairly comfortable at the 300 level as far as the supermarket and convenience store number go. We’re looking to move concessionaire number from 68 up to about maybe 80 in 2023,” Aboitiz said.
“Outside of those, we do operate our own The Good Meat stores and we do this for a number of reasons. One is to make available in neighboring communities. Two, we also use these stores as staging points for delivery of our products that we sell through thegoodmeat.ph and (e-commerce sites),” Aboitiz added.
