Binalot Fiesta Foods Business Paper

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I. EXECUTIVE SUMMARY

Filipinos love to eat, which explains why practically every major global food brand is in the country; fast food brands, especially. These international franchises and their local limitations dominate. Filipino dining taste, in turn, has become very Western.

It was this way, until a band of young entre-Pinoys realized, in 1996, that the Philippines has as much to contribute to the culinary world, as burger and French fries, pizza and spaghettis, plastic spoons and styro packs. Their Filipino pride pursued the rebirth of Pinoy classics – adobo and bistek, tapa and tocino, sisig and longganisa, even salted eggs and tomato against the foreign fast food concept.

Their flash of inspiration led to the re-discovery of an age-old but very clever Filipino dining practice much better that styro lunch packs – banana leaves! Equally clever, their “banana insight” inspired the birth of BINALOT FIESTA FOODS.

Today, the “adobo pride” is being proven right. In just a little more than 10 years, BINALOT has grown from a humble store in Shaw to a 35-store strong major franchise player competing with the fast food icons. 8 out of 10 are franchise stores, proof of the solid Binalot franchise formula.

An early testament to its potential was mall giant SM’s offer in 1998 to locate in SM South Mall and SM Megamall, just 2 years old in the business.

Its “All-Time Pinoy-Vorites” main menu – 10 of the most popular Pinoy dishes – now gives Filipino consumers affordability and value for money. And the “banana leaves” are a welcoming refreshing substitute to the non-biodegradable styro box.

BINALOT’s ultimate vision to become the number one, truly Filipino fast food restaurant reflects not so much its business ambition as its beliefs. Its ADVOCACY in fact, that Filipino food is among the best that the local menu is the world-class menu and a truly-Filipino fast food concept can go global.

The same advocacy believes also in developing young-small-to-medium entre-Pinoys, just as they were in 1996, to propagate wealth. Hence, BINALOT franchise has been so designed as to multiply individual entrepreneurship – the real key to national economic progress.

Beyond cuisine, however, BINALOT is really about advocating Pinoy values and culture, the best in and of the Filipino. With culinary excellence, BINALOT aims to advance Pinoy excellence.

The fast food market locally and globally, has been longing and is truly-Filipino recipe-based fast food and BINALOT, the “PAMBANSANG-TSIBUGAN”, is championing for adobo recognition.

In this paper, the competitive advantage and other attributes of BINALOT Fiesta Foods when it is brought out in the global market will be studied.

II. INTRODUCTION

The purpose of this paper is to outline the parameters under which the principals will pursue the construction, development and operation of a company owned BINALOT Fiesta Foods in a key location in Asia, particularly in Singapore; its first in the global market.

Coined from the Filipino word which means “wrapped”, BINALOT is just that – classic Filipino fare wrapped in banana leaves in traditional local fashion. The concept promotes the traditional way of enjoying well-loved and a festive Fiesta ambiance that every Filipino can associate with.

Our group is optimistic and enthusiastic about locating the said Pinoy concept fast food restaurant outside the country due to its idea of promoting our culture. We are confident that our local cuisine will capture the international market.

III. THE COUNTRY’S ENVIRONMENT

a. Socio-cultural

Singapore’s social and ethnic fabric blends of cultures and people- Malays, Chinese, Indians, and now the expats. Singapore’s lifestyle is multi-cultural with each of these ethnic communities maintaining their unique way of life and at the same time living harmoniously. Singapore’s society is cosmopolitan due to the influx of foreigners in...
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