Jollibee

Company Background of Jollibee

Starting as a two-branch ice cream parlor back in 1975, due to some economic crisis, Tony Tan Caktiong, president of the company, sought hamburgers as an addition to the menu. Offering hot meals and sandwiches, it became incorporated in 1978 having seven outlets. Jollibee hit the P500 million sales mark in 1984, which lead them to the Top 500 Philippine Corporations and Top 100 in 1987. Jollibee became the first Philippine fast food chain to break the P1 billion sales mark in 1989. In 1993, it became the first food service company to be listed in the Philippine Stock Exchange. This brought them to broadening its capitalization and laying the groundwork for sustained expansion both local and international.

As the country’s leading fast food chain, Jollibee has grown exponentially on all aspects on operation having to compete with other fast food companies in the country. As stated by JFC’s report to the Security and Exchange Commission, The JFC Group of Companies operates the Philippines’ largest fast food network with a total of 1,931 stores in the country: Jollibee brand with 719, Chowking with 403, Greenwich with 219, Red Ribbon with 216, Caffe Ti-amo with 3, Manong Pepe 11 and Mang Inasal with 360. It was also operating 407 stores abroad: Yonghe King in the People’s Republic of China with 209 stores, Jollibee 69 (mainly in the US with 27, Vietnam with 22 and Brunei with 11) Red Ribbon 38, all in the US, Chowking 40 (mostly in the US with 20 and Dubai with 16) and Hong Zhuang Yuan 51 for a total of 2,338 stores worldwide.

As JFC (the Parent Company) was incorporated in the Philippines, together with its subsidiaries, it has involved primarily in the development, operation and franchising of Quick Service Restaurants (QSR). Other activities of the Jollibee Group include manufacturing and property leasing in support of the QSR systems and in other independent business activities. The company values include customer...