Financial Management

Financial Management

Company Profile

Company Name : Emyth, Inc. (Nacho King!)

Logo :

Nature of Business : Food Service

History

Upon return from college in the United States in 1994, Mike Singh had a cool idea. Mexican food was wildly popular in the United States, and only becoming known in the Philippines at the time. The food cart industry barely existed, and Filipinos loved to eat and hang out in malls. Born the idea ‘Nacho King!’. Mike and his best friend from high school Teddy Manotoc each borrowed a few thousand dollars from their parents, and they were off.

They opened their first outlet in April of 1995, in SM City Manila, and still remember the day well. They hadn’t slept for days preparing for this big day. Little did they know there were many sleepless nights to follow. Lines formed out the door and the Nacho King! household name was born.

Today Nacho King! is a chain of kiosks that has taken snack lovers by storm and is the leading retailer and wholesaler of nachos in the country. Our kiosks can be found in department stores, supermarkets, and schools and our products can be sourced wholesale through our company Emyth, Inc.

Since the first branch opened in 1995, its has grown up to several hundred outlets nationwide. Today, having become a Filipino household name, we are gearing ourselves toward not just rapid expansion in the Philippines (through Franchising) but also in neighbouring countries.

Milestones:

* First outlet opened in SM City Manila in 1995

* In year one, Nacho King! had opened approximately 25 more locations, virtually introducing the food cart industry into the Philippine market.

* In year two, Nacho King! decides they cannot keep up with the pace of growth, decide to develop a Franchise Program and launch Franchising

* In year three, Nacho King’s! suppliers cannot keep up w/ demand. Nacho King! decides to vertically integrate. Partners Mike and Teddy fly to the US to research the tortilla chip...