Franchising Binalot is quite ideal. In this fast paced life that Filipinos lead, most of us tend to forget just what it means to live a comfortable life in the most traditional way. We eat at restaurants with our food placed in Styrofoam containers. Some are made poorly and the food that we consume tastes less than what we are accustomed to. The Western culture has instilled itself to us in just any way possible. It’s a great thing then that most restaurants aren’t swayed and has proved that they can hold their own when it comes to serving food in the Filipino way.
Binalot has been in the fast food market since 1996. A bunch of friends realized that the Filipino food can compete with just any type of food out there. They tend started Binalot and have started franchising it. Their inspiration led to the discovery of an age old but clever Filipino way of dining – food served in banana leaves. They started operating from a stall in Shaw. Now, they have blossomed into 37 stores, 10 of which are franchise stores.
It’s not hard to be part of one of the fast growing Filipino food chains out there. Here are some of their franchise packages:
Full Store / Restaurant (95 – 150 square metres)
Binalot Franchise Fee is Php 600,000 for Manila and Php 700,000 for Provincial and Inter Island
Contract Term is for 6 years
Estimated Total Investment is P 3.5 Million – P 3.9 Million which includes Initial / Franchise Fee, Kitchen Equipment, Utensils, Cookware, POS, Renovation / Construction and Signage / Menu board / Murals among others.
For the in line “Stalls” (25 – 95 square metres), franchise fees and the contract terms are the same. Estimated total investment is 2.8 Million – 3.5 Million which includes Initial / Franchise Fee, Kitchen Equipment, Utensils, Cookware, POS, Renovation / Construction, and Signage / Menu board / Mural.
For the in line “Kiosks” (15 – 25 square metres), franchise fee and the contract terms are the same. Estimated total investment is 2.5 Million – 2.8 Million which includes Initial / Franchise Fee, Kitchen Equipment, Utensils, Cookware, POS, Renovation / Construction, and Signage / Menu board.
Franchise Fees Include
- For Marketing (P 30,000) – Opening Assistance
- Initial Inventory – worth P50, 000
- Banners & streamers
- Leaflets / Giveaways
- Opening promos / Food & Beverages
- Personnel
- Commissary
- Operations – Opening Team
- Supervisor – duty for 2 weeks
- 2 Service Crew on duty for 2 weeks
- Training
- Initial Staff (maximum of 5) training fee to be shouldered by BFFI (including training)
Binalot Franchise Package Details
Use of the Name
Business Operations Systems
Binalot has developed a business operations system that facilitates its branches to operate smoothly and profitably. This system was developed specifically for the use of our branches and will be handed down to the franchisee.
Mobilization Set-up, Construction & Signage
Since Binalot has its standard design, it has its own accredited contractor who would set up the store.
Marketing Support
Marketing paraphernalia, such as banners, posters, streamers and flyers are to be provided by the franchisor especially on the opening day during promo launches and marketing activities. For System wide marketing, expenses incurred will be charged to the MSF of the company. For Local Store Marketing, the expenses shall be for the franchisee’s account.
Operational & Technical Support
Binalot has a team of competent and dependable people who conducts regular field visitations to give on-site assistance.
Monthly Service Fee
Of the earnings to be made monthly, the Franchisee shall remit a monthly Royalty fee equivalent to five percent (5%) from the Gross Sales and the Marketing Support Fund of two percent (2%). The said fee is due no later than 10 days after the end of each month. Failure to remit these royalty payments in a timely manner will result in a 1.5% interest charge for each month delayed to the franchisee’s account.
Suppliers
The franchisee is required to purchase all supplies, unless otherwise agreed upon by both parties to have an open market, utilized at the branch from the BINALOT commissary.
Contract Duration
The Franchise Agreement between Binalot Fiesta Foods, Inc. and its franchisees will be valid for a period of six (6) years from the date of contract signing. The franchisee may have the option to renew the contract upon mutual agreement with the franchisor at 50% of the current initial fee of Franchisor, with the terms and conditions of the first contract.
Other Binalot Franchise Expenditures
Franchise Procedures:
- For one to be an applicant, he/she must has distinguished a site and started negotiating in putting up a Binalot branch and has drafted a letter signifying intentions of becoming a Binalot franchisee together with a vicinity map of proposed site and an updated resumè.
- If it goes well, he/she meets with Franchise Applicant for Preliminary Interview. If favourable, the applicant gets the following:
- Franchise Qualification form and Secure reservation fee of Php 20,000 for Metro manila and Php 40,000 for provincial.
- Market Study
- Franchise Suitability Test
- The applicant must send the vicinity map of site, conduct and submit market study
- The company then reviews the qualification form and conducts own Market Study to validate. Then, they schedule another meeting for MOA signing and payment of down payment (50%). Franchise Agreement will then be issued to the applicant for review for a week. Then, they meet up with Franchise Applicant for FA signing, payment of the remaining balance of the Franchise Fee (50%) and discuss the rest of the procedures.
Contact Details
For franchising Binalot inquiries, you can contact them at the following:
Website: www.binalot.com
Email: ilovebinalot@gmail.com
Tel No.: (02)824-7014
Telefax: (02)822-6483
Mobile No.: 0932-844-1807
Address: The Business Development Department, BINALOT FIESTA FOODS, INC., #3686 BUJ Building Sun Valley Drive, Sun Valley Subdivision, Parañaque City, Philippines
Jack is a self-made entrepreneur, who actually started out in the Military, then worked for the Government for a few years, until he finally made that bold step and started out his own online and offline businesses. He’s never looked back ever since, and hasn’t been happier…
