TESTIMONIALS

ANGELIE VALENZUELA
Potato Corner Franchisee

Personal Introduction
I am a licensed architect employed for almost 20 years now – the first 15 years as a store designer and planner, and as an operations manager of a major department store chain in the past 4 years.

Introduction to Potato Corner Franchising
It came at a time when I wanted to diversify my career. While still pursuing my current job then as a store designer, I thought that I needed to plan out my future outside the company. I wanted to lay out my plans to be my own employer but didn’t know exactly how, when and where to start.

A construction and design-based business was out of the question due to financial constraints and the complexities of the field. The business is very risky to take as a part-time foray.

I had started inquiring about franchising donut outlets when, while waiting in line to use an automated teller machine at Robinsons Galleria, the brisk business of an adjacent Potato Corner kiosk caught my attention. The next day I contacted Cinco Holdings and, in around 6 weeks, I was already an entrepreneur and have been so for around 6 years now.

Number of Potato Corner Outlets
I am currently operating 2 Potato Corner kiosk outlets – in Festival Mall and Robinsons Place – Metro East.

Potato Corner is the only brand I have been working with since I started this business.

Potato Corner Supporting the Family
With the performance of my 2 outlets, the business has been very financially rewarding. In the past years 3 years when the business became more profitable, I was able to diversify my financial portfolio with investments in mutual bonds and real estate.

2 years ago, I was able to purchase a 65.00 sq. m. condominium unit where I am now residing. Next up is a resort condominium unit in Nasugbu, Batangas.

Satisfaction with a Franchise Business
In my understanding, a franchise business allows middle income employees like me to delve in entrepreneurship with controlled risk and minimal financial outlay while still keeping my current employment. My Potato Corner franchise allowed me to do just that.

On a personal note, other than the financial gains, the fortunate success of my franchise business has boosted my confidence in my workplace – it is about securing your future beyond your current work. The business also works both ways – I can apply my learnings at work to my own business, and vise versa.

At any time should I decide to be a full-time entrepreneur, I now have a solid foundation to diversify and take more risks.

Advise to those Aspiring Franchisees

MANAGE YOUR EXPECTATIONS. Just like about in anything that one pursues, there are no guarantees and there will always be risks. You have to be prepared, you have to have contingency plans. It’s all part of ANY business. Franchising does not guarantee success but it provides the ABC’s to start any kind of business. Managing your expectations and learning from the experience are very important.

DO NOT PUT ALL YOUR EGGS IN ONE BASKET. It’s the same old cliché that works. Review your finances before getting into the business. Determine the amount you are willing to invest and might eventually lose. Ideally, your budget should be half of your total (liquid) earnings or assets.

REALISTIC CAPITAL INVESTMENT. Of the total franchise amount (franchise fee, cart, tools and equipment), add at least P150,000 for other expenses such as rental deposits, business registration and other expenses.

ALLOCATE TIME. In as much as a franchise business will allow you to pursue any employment opportunities at the same time, the franchisee’s involvement in the operation of the cart is crucial to its profitability. At least 2 to 3 days a weeks, visit your outlet to check inventory and outlet upkeep, and your service crew’s performance.

STICKING TO THE STANDARDS: THE CONCEPT OF FRANCHISING. In franchising, you are acquiring the brand name together with the standards and operating system that go with it. You are shortchanging the outlet and yourself once you deviate from the procedures and standards. In the franchising business, standardization of the product assortment and quality, customer service and the physical set-up of the cart are important in sustaining and protecting the integrity and identity of the brand.

WORK THE NUMBERS. Review and understand sales reports and stock inventory. At the end of each month, prepare a Profit and Loss Report to determine areas affecting your outlet’s profitability.

ESTABLISH RAPPORT WITH YOUR CREW. Your service crew’s commitment to the outlet can very well affect brand equity and profitability. Start by making your service crew realize that you are as involved in the business as they are.

As a Franchising Opportunity to other Entrepreneurs
Especially for new entrepreneurs, Potato Corner has all the factors that make up for a highly efficient and potentially profitable business venture:

- size and flavor-oriented merchandise assortment
- huge and moneyed captive market : middle income and above
- simple inventory monitoring template
- strong logistics, management support
- longevity, brand recognition in the market