Golden Arches Development Corp., the franchise holder of McDonald’s in the Philippines, said it plans to open 30 to 40 new restaurants this year in line with the target to have 500 stores nationwide by end-2016.
Golden Arches president and chief executive Kenneth Yang told reporters in a chance interview the company would pursue an aggressive expansion this year. Kenneth is a son of George Yang, founder and chairman of Golden Arches.
“Around 30 to 40 [stores this year]. We put up 28 restaurants last year,” said Yang.
He said 2015 was a “very good year,” but he did not provide financial details.
“So far, we’re quite happy with our results,” he said.
Yang said the expansion this year would be driven by economic growth, especially the expansion of the business process outsourcing sector.
“As the BPO community grows, we’ll also grow with them. We’re also looking to be opening stores where they are located,” he said.
He said more McDonald’s branches would open in provincial sites this year.
“We’re still going to open a lot in Metro Manilam but more in the provincial areas, also in the Visayas and Mindanao…This year, we will definitely hit our 500 restaurants,” Yang said.
McDonald’s has more than 460 restaurants nationwide to date and is the second largest fastfood chain, after the homegrown brand Jollibee.
Yang said investment per new store would range from P30 million to P40 million. Each restaurant is expected to create 50 to 80 new jobs, he said.
McDonald’s, a US brand of fastfood restaurants, opened its first restaurant in Illinois in 1955. McDonald’s serves close to 68 million people through its 33,000 restaurants in 119 countries worldwide today.
Businessman George Yang, chairman of Golden Arches, opened the first McDonald’s restaurant in the Philippines in 1981 in Morayta, Manila.
It began its nationwide expansion, with the opening of restaurants in the cities of Cebu and Cagayan De Oro in 1992.
McDonald’s Philippines became a 100-percent Filipino owned company in 2005, when Golden Arches teamed up with Alliance Global Group Inc. of businessman Andrew Tan to buy the remaining stake of US company McDonald’s Corp. in the local unit.