Potato Corner plans aggressive expansion in US
MANILA, Philippines - Local french fry chain Potato Corner is looking to expand its operations in the US due to strong demand for its product there.
Americans are not used to having flavored french fries. Usually, they eat their fries with ketchup, mustard or some kind of dip.
But Potato Corner CEO Jose Magsaysay Jr. said the company's flavored fries are becoming popular in the US.
This is the reason why the company is expanding its operations in the world's biggest economy to 1,000 stores in the next 5 to 7 years from the current 13, said Magsaysay.
Magsaysay expects income from Potato Corner's US operations to soon exceed the income from operations in the Philippines and other countries.
"We foresee that US expansion will outrun Philippine operations in the medium term. At the present trajectory, this target is highly achievable," he noted.
For 2012, the company expects at least a 12% increase in Philippine revenues over last year's and as much as 20% increase in revenues that include overseas operations.
Magsaysay said the company is negotiating for master franchises in Vietnam, China, South Korea, Taiwan, Japan, Australia and New Zealand.
The company currently has a network of 307 stores in the Philippines, the US, Panama, Indonesia and Malaysia. - Rappler.com