Jollibee Guam construction begins
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Philippine fast-food giant Jollibee’s planned re-entry into the Guam market has taken another step forward. The $2 million construction project to build a standalone Jollibee in the Micronesia Mall parking lot has begun. The construction site was in the process of being cordoned off Monday, and construction equipment has started digging up the ground for the proposed concrete building.
The Jollibee corporate office in the Philippines has previously confirmed its Guam restaurant will open in the fourth quarter of this year.
Maxi D. Peralta Jr., assistant vice president and head of international franchising at Jollibee Foods Corp., spoke on behalf of the company.
Known for its crispy fried chicken, sweet spaghetti and other Filipino twists on patties, hot dogs, egg rolls and noodles, Jollibee’s Guam re-entry was announced as part of its overseas expansion plans.
Jollibee had two franchise-run restaurants on Guam and two on Saipan, but its Marianas presence ended more than a decade ago as the islands went through an economic downturn. Jollibee also had trouble competing with Guam players that offered larger portions.
The company builds, runs and franchises quick-service restaurants. A Jollibee international franchise applicant must have a minimum net worth of $5 million, according to the company’s website.
Internationally, Jollibee had 139 stores with 32 in the United States, 72 in Vietnam, 13 in Brunei, one in Hong Kong, two in Singapore and 19 in the Middle East, according to the company’s profile for investors.
Questions & Answers
Q.What is the budget for building the new Jollibee restaurant in Guam?
What is the budget for building the new Jollibee restaurant in Guam?
The construction project to build the standalone Jollibee restaurant in the Micronesia Mall parking lot has an allocated budget of $2 million. This amount covers the costs associated with establishing the new facility from the ground up.
Q.When is the new Jollibee restaurant in Guam expected to open?
When is the new Jollibee restaurant in Guam expected to open?
The Jollibee corporate office in the Philippines has previously confirmed that its new restaurant in Guam is scheduled to open during the fourth quarter of this current year, according to their official announcement.
Q.Why did Jollibee previously leave the Guam market?
Why did Jollibee previously leave the Guam market?
Jollibee's previous presence in the Marianas, which included two restaurants on Guam, ended over a decade ago. This closure was due to the islands experiencing an economic downturn and the company facing difficulties competing with local players offering larger portion sizes.
Q.What are the financial requirements for becoming an international Jollibee franchisee?
What are the financial requirements for becoming an international Jollibee franchisee?
According to the company’s website, an applicant wishing to secure an international franchise for Jollibee must possess a minimum net worth of $5 million. This requirement ensures potential franchisees meet the necessary financial criteria.
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