How to Franchise Goldilocks Bakeshop in the Philippines
If you’re a Filipino, you may be familiar with the slogan “how thoughtful how… Goldilocks”. That is what a 100% total brand awareness means. Goldilocks has already become an integral part of the Filipino way of life. When we need cakes for birthdays and other occasions, Goldilocks bakeshop is the place to visit. I personally love and crave for the classic Polvoron, which I can only found and buy in Goldilocks.
The first Goldilocks store opened on May 15, 1966 at Pasong Tamo, Makati City. It was the first bakeshop in the Philippines to sell rolls in specially designed long boxes. From its initial offerings of simple baked goods, Goldilocks has already expanded to catering services, full meals and Filipino merienda choices, such as pancit palabok, sago at gulaman, fresh lumpia, mamon and ensaymada.
From ten employees and two display stands, Goldilocks has become a global brand, expanding to over a total of 250 stores in the Philippines and overseas; and hiring thousands of local employees. The opening day total sales of P574 back in 1966 has multiplied thousand of times over, reaching a system-wide sales of P5.9 billion by the end of 2007.
When it comes to franchising, Goldilocks is already a hall famer. It was awarded the 2004 Outstanding Filipino Franchise of the Year, the 2005 Outstanding Filipino Franchise of the Year HALL OF FAME, and the Franchise Marketing Campaign by the Philippine Franchise Association. So how to franchise Goldilocks Bakeshop in the Philippines? The following shall guide you.
What is the Goldilocks Franchise Agreement?
The Franchise Agreement grants to the franchisee the right to operate a specific Goldilocks Store, at a single address, for a period of 8 years (the franchising term offered by Goldilocks). These rights include the use of Goldilocks trade name and trademarks, proprietary products, store design, signage, and use of Goldilocks methods of operation. In return the franchisee agrees to operate the business in accordance with the Goldilocks established standards of quality, service, cleanliness and customer service. The Franchisee is expected to do his utmost best to operate his store to achieve the fullest potential of the store in terms of profitability and customer delight.
What does Goldilocks look for in a prospective Franchisee?
Goldilocks looks for a franchisee applicant with the following characteristics:
- Highly motivated and shares the same values as Goldilocks in terms of commitment to quality and service.
- Dedicated to running the business on a full time basis, not as an investor but as a hands-on operator.(owner/manager)
- Financially capable of meeting the financial requirements
- With an entrepreneurial drive willing to take calculated risk, and with the strong desire to succeed.
- With business management skills preferably with food or retail experience.
- Very good interpersonal relationship skills.
- Willing to operate within the Goldilocks system
What are the franchising schemes offered by Goldilocks?
Franchise fee: P 800,000 (VAT exclusive)
Investment cost: Est. P 6 to 8M
Advertising fee: 2% of the total sales which is paid on a monthly basis
Store size requirements: Minimum of 60 sqm, maximum of 80 sqm
b. Full store
Franchise fee: P 1.2 M (VAT exclusive)
Investment cost: Est. P 10 to 13M
Advertising fee: same with bakeshop
Store size requirements: min. of 150 sqm, max. of 200 sqm
Estimated investment cost will cover the Following:
- Franchise fee
- Lease hold improvements
- Delivery vehicle
- Operating equipment / utensils
- Collateral / surety bond
- Project management fee
- POS- Point of Sales w/ hardware package
How much is the royalty fee?
The royalty fees are paid on a monthly basis for the ongoing use of the Goldilocks name and systems as well as for the continuing support activities of Goldilocks.
a) Full Bakeshop- 4% of purchase goods.
b) Foodshop-8% of total monthly gross sale.
How to apply for a franchisee in the Philippines?
1) Download and print a copy of their Franchise Inquiry Form. Fill out completely.
2) Prepare the following
- Letter of intent addressed to the Franchise Relations Manager
- Address, location, and vicinity map of proposal (to include site description, including business establishments within 1 km. radius)
- Comprehensive resume of the applicant (personal background information credit references, latest ITR, fixed assets and liabilities, proof of billing address, list of membership organizations, 2×2 colored photograph)
3) Mail the documents to:
GOLDILOCKS BAKESHOP INC.
Franchise Relations Department
439 Shaw Boulevard
Mandaluyong City 1550
Or email at:
Note: For more detailed and updated information about franchising Goldilocks and selling Goldilocks products or applying for a franchise in other countries, please visit www.goldilocks.com.ph