Comprehensive Due Diligence for Philippine Restaurant Expansion
Services Provided: Due Diligence
The Challenge
Our client, a major NYSE-listed restaurant group from the USA, sought to enter the Asia Pacific region by forming an initial partnership in the Philippines. Lacking knowledge of the region, they were concerned with choosing the best partner who would represent the concept and execute an aggressive store development plan, making the necessary local modifications to meet customer expectations.
Our Solution
Drawing on our extensive experience in this market, we were able to carry out a thorough and confidential due diligence exercise within two weeks, which included:
The assignment involved the following:
Interviews with industry executives
Store visits to the partner’s existing concepts
Evaluation of the market potential for the concept with estimation of store counts
Necessary refinements to ensure acceptance by local customer
Competitive market franchise terms and conditions
Results
We saw no major red flags and recommended that the client proceed with the partnership providing all concept positioning issues were resolved. The client then reached an agreement with the local partner, leading to the successful opening of the first store in Manila during Q1 2013.
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