Coffee franchise The Venti said on the 29th that it signed a master franchise (MF) agreement with Philippine food and beverage (F&B) company JJR BROTHERS FOOD CORP. MF is a form of overseas expansion in which a franchise headquarters grants a local partner in a specific country or region full rights to use the brand and its operating system in exchange for fees such as franchise fees and royalties.
JJR Brothers Food is a corporations expanding its business capabilities in the Philippine F&B and distribution markets based on an integrated supply chain system that organically connects restaurants, cafes, marts, distribution, and logistics. In particular, it has experience establishing Korean F&B brands in the local market, centered on Metro Manila.
The Philippines is the fifth country The Venti has entered, following Canada, Vietnam, Jordan, and the United States. The company said the decision to enter the Philippines reflected a comprehensive assessment of market potential and marks a full-fledged starting point for targeting the Southeast Asian market. The Philippines has a large young consumer base and an active dining-out and cafe culture. It is considered a suitable market to showcase the wide variety of beverages The Venti offers and its competitive, reasonable pricing.
The Venti aims to open its first store in the Philippines in the third quarter of this year. Together with its partner, it plans to build, step by step, a store operation model and menu strategy that reflect Filipino consumer characteristics and commercial district conditions.
A The Venti official said, "This master franchise agreement in the Philippines is an important starting point for The Venti's expansion in the Southeast Asian market," adding, "We will gradually prove The Venti's brand competitiveness in the Southeast Asian market."