Goldilocks Bakeshop Inc., a part of the SM group’s portfolio investments, continues to drive expansion through partnerships as it rolls out an additional 30 franchise-owned stores in 2024.
Goldilocks had 926 stores as of end-2023, including 360 franchised-owned stores.
“Each of our franchisees is deeply embedded in their communities, and this intimate local knowledge is crucial because it allows each bakeshop to feel less like a chain and more like a neighborhood store,” said Goldilocks chief operating officer Jerson Go Uy.
The company said the business relationship that Goldilocks grows with its partners often started with longstanding love and trust for the brand. Many Goldilocks franchise owners started out as loyal customers in their youth.
Henry Gosyco has been a Goldilocks franchisee in Tacloban for 16 years, becoming a partner in 2008. He remembers his fondness for Goldilocks from his high school days.
“Since my high school days, I would eagerly request relatives traveling to Manila to bring home the classic mamon [a traditional Filipino sponge cake] and polvorón [similar to shortbread cookie],” said Gosyco.
“Over the years, my love for the brand has only deepened, and it has long been my aspiration to own a Goldilocks store,” he said.
Gosyco has extended that brand love to community service. A number of his stores actively engage in partnership programs with local government units in Tacloban like the Brigada Eskwela program, local tree-planting initiatives and feeding programs.
Fellow franchisee Dr. Martin Martinez has shared the same love for Goldilocks since he was 12. “I always had it in mind that I wanted to be part of a Goldilocks store someday,” said Martinez.
“I remember stepping into a Goldilocks in Mandaluyong for the first time when I was 12 and immediately felt warm and welcomed by the homey feeling of the store and the taste of the food, especially the mamon,” he said.
“At the end of the day, we want to boost the communities where we operate in,” said Uy.
“Our franchise partners are key to fostering community connections that help drive positive economic impact,” he said.
Goldilocks said it is committed to the success of their partners, as it extends substantial support to them by providing the necessary tools to thrive as business owners. The company also understands that success also extends beyond the bottom line.
Gosyco said this commitment rang true when Tacloban was devasted by Typhoon Yolanda in 2013. Goldilocks reached out to them to provide crucial support in their efforts to rebuild not just the business but their community.
“It was during these challenging times that the support of our dedicated team, the resilience of the local communities, and the support of Goldilocks and the SM Group played a pivotal role in our efforts to rebuild,” said Gosyco.
Goldilocks said such demonstrations of community spirit inspire other franchisees to pay it forward like Blanca Bondoc who keeps her stores open in the early morning on occasions like the Simbang Gabi to accommodate churchgoers after mass.
“Adjusting our operating hours community to attend to the needs of churchgoers attending early morning services is our way of serving our community. With the support of the Goldilocks team, we try our hardest to provide the best service to our customers,” said Bondoc.
The SM group reiterated its commitment to the development of underserved regions in the country, recognizing the potential for growth of local economies and the need to serve these communities.