Binalot Market Analysis
MARKET ANALYSIS
INDUSTRY:
- Binalot belongs to the restaurant sector. It is comprised of fine dining restaurants, fast food chains, canteens, foodcourts and other establishments which serves food and drinks whether it is self or semi service.
- Franchising fast food chains is growing in the Philippines. More and more Filipinos are gearing towards food franchising because of the love for food of the Pinoys.
- For 2007-2008 Food franchisin dominated the other franchising business such as Retail, services, training and education and others.
Figure 1. Philippine Franchises by Category, 2007-2008
Source:PFA
Food Franchising has been increasing since 1995 according to the table provided below.
Table 2. Number of Franchises, Food and Non-food, 1995 - 2008
Year Food Non-food TOTAL
1995 78 33 111
1996 89 97 186
1997 118 133 250
1998 207 235 442
1999 203 305 508
2000-2001 290 418 708
2002-2004 391 459 850
2007-2008 425 575 1000
There are a lot of Franchise Businesses that one could enter into. There are foreign businesses and as well as homegrown ones. The leading franchise businesses are Jollibee, Mcdonalds, KFC, Julie’s and many more.
CUSTOMERS:
- Individual customer demographics
The target customers of Binalot are the average Filipino who loves eating native cuisines. They cater to a wide market such as the working class and young professionals who are always on the go, families, students and many more individuals who want to take pleasure in Filipino food. Different people with varying ages eat at Binalot. The concept of Binalot brings its customers back to the way our ancestors ate their food which is laid down in banana leaves and soup is poured in palayok. The menu consists of favorite Pinoy foods from breakfast, lunch, merienda and dinner such as Adobo, Tapa, Sinigang, Bistek, Banana que, Leche flan and many more. Meal prices range from as low as 40 pesos to 100 pesos and snacks costs as low as 10 pesos. The food is truly
INDUSTRY:
- Binalot belongs to the restaurant sector. It is comprised of fine dining restaurants, fast food chains, canteens, foodcourts and other establishments which serves food and drinks whether it is self or semi service.
- Franchising fast food chains is growing in the Philippines. More and more Filipinos are gearing towards food franchising because of the love for food of the Pinoys.
- For 2007-2008 Food franchisin dominated the other franchising business such as Retail, services, training and education and others.
Figure 1. Philippine Franchises by Category, 2007-2008
Source:PFA
Food Franchising has been increasing since 1995 according to the table provided below.
Table 2. Number of Franchises, Food and Non-food, 1995 - 2008
Year Food Non-food TOTAL
1995 78 33 111
1996 89 97 186
1997 118 133 250
1998 207 235 442
1999 203 305 508
2000-2001 290 418 708
2002-2004 391 459 850
2007-2008 425 575 1000
There are a lot of Franchise Businesses that one could enter into. There are foreign businesses and as well as homegrown ones. The leading franchise businesses are Jollibee, Mcdonalds, KFC, Julie’s and many more.
CUSTOMERS:
- Individual customer demographics
The target customers of Binalot are the average Filipino who loves eating native cuisines. They cater to a wide market such as the working class and young professionals who are always on the go, families, students and many more individuals who want to take pleasure in Filipino food. Different people with varying ages eat at Binalot. The concept of Binalot brings its customers back to the way our ancestors ate their food which is laid down in banana leaves and soup is poured in palayok. The menu consists of favorite Pinoy foods from breakfast, lunch, merienda and dinner such as Adobo, Tapa, Sinigang, Bistek, Banana que, Leche flan and many more. Meal prices range from as low as 40 pesos to 100 pesos and snacks costs as low as 10 pesos. The food is truly