1,000 branches by 2020: Max’s Group eyes expansion in Mindanao, Indonesia, Australia
Listed casual dining chain operator Max’s Group Inc. (MGI) plans to open more stores in Mindanao following the end of Marawi conflict, as it seeks further expansion opportunities here and abroad.
MGI President Robert F. Trota said the company has already 15 branches in Mindanao, including those in Zamboanga, General Santos City and Cagayan de Oro.
“Now that the Marawi siege is over, again there’s more opportunity I believe for us to grow the business… I think the economy of Mindanao is growing and we would like to be able to open more stores,” he said in an interview this week.
Trota noted that even with the Marawi conflict, the company has been looking to put up Max’s Restaurant and Pancake House branches in Iligan City.
“It never stops us from looking at Mindanao to grow the business,” he said.
MGI has allotted this year up to P800 million in capital expenditures mainly for the rollout of 60 to 70 new branches primarily among core brands Max’s Restaurant, Pancake House, Yellow Cab Pizza and Krispy Kreme.
“We are on track to meet that number. Some might open around December already but we will meet that target of opening 60 to 70 stores. We should be about 50 plus (branches) already,” added Trota.
The company has set a goal to establish 1,000 outlets, including 200 international, by 2020.
Trota said the local market comprises 90 percent of company’s total revenues, while the remaining 10 percent is shared by its overseas stores.
MGI is continuously expanding across the Philippines and in the Middle East, North America, Canada, Singapore, China, and Vietnam, he said.
Trota further said the company would looking to open more stores overseas.
“Indonesia is one. We would like to look into India as well. Of course, we would like to look as far as Australia. Within ASEAN (Association of Southeast Asian Nations) alone, Asia Pacific, I think our hands are full,” he added. (PNA)