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Tag: bo’s coffee

  • Bo’s Coffee plans big expansion ahead

    Bo’s Coffee plans big expansion ahead

    Filipino cafe chain Bo’s Coffee plans to more than double its store network within four years and is also eyeing expansion into the Middle East. In an interview, founder Steve Benitez says the ambitious growth plan has been fuelled by strong local demand. With 103 cafes currently, Benitez is targeting between 200 and 250 by 2022.

    “Our job is to make sure that we are able to popularize coffee and be able to supply so much, not only in the Philippines but globally,” he said.

    In its home market, Bo’s Coffee, which was founded in 1996, will be targeting Luzon, especially given the brand has “only scratched the surface” there to date.

    In the Middle East, Bo’s Coffee plans to open a second store in Qatar shortly, followed by three more within two years. Other markets in the region are now in its sights.

    The expansion plans will be accelerated following an investment by Philippine-focused Navegar Fund which was attracted to Bo’s Coffee by its efforts to support local coffee-growing communities.

    “Seventy to 80 per cent of our coffee beans are sourced locally,” said Benitez. “We were trailblazers. We started featuring Philippine coffee and the other shops followed after.”

    Bo’s Coffee recently opened a 300sqm flagship store in Cebu which supports social enterprises by partnering with local micro-small entrepreneurs in their store interiors, products, and merchandise inside.

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  • Bo’s Coffee Philippines targets to open 200

    Bo’s Coffee Philippines targets to open 200

    Philippine coffee chain Bo’s Coffee is planning to operate 200 local stores within two years.

    The plan represents a change in direction for the brand, which opened its first outlet in Qatar recently. Overseas expansion for Bo’s is now shelved until 2020, while the brand’s immediate focus for growth is Luzon.

    Founder Steve Benitez said: “The Qatar opening was long overdue. Finally, we have opened it. Our partners there are planning to open three to five more branches. We are happy to hear that despite minimal marketing, the coffee shop there is doing well. However, the plan is to grow the brand locally before we expand aggressively in other countries.”

    Bo’s Coffee recently announced a change to its franchising system, which now serves both regional and territorial franchisees.

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  • Bo’s Coffee founder selected as high-impact entrepreneur

    Bo’s Coffee founder selected as high-impact entrepreneur

    Having traded a law degree to start a sustainable coffee shop,  is now set to make greater impact on Philippine development.

    Endeavor chose the founder of Bo’s Coffee as the latest Filipino high-impact entrepreneur during its 64th International Selection Panel in Madrid, Spain, held from May 25 to 27.

    A global non-profit group, Endeavor aims to transform emerging economies by providing support to local entrepreneurs capable of creating high-growth businesses. The aim is to help them build companies that others can feed off, creating a healthy job-creating ecosystem similar to Silicon Valley.

    Benitez joins a select group of globally-selected, Philippine-based Endeavor entrepreneurs that include Xurpas founder and president Nix Nolledo and PSG Global Solutions founders Brian Cotter and Vivek Padmanabhan.

    “As a high-impact entrepreneur, Steve convinced panelists of his ability to build a successful business, but just as importantly, he has also supported and mentored other entrepreneurs to grow their own businesses,” said Manny Ayala, managing director of Endeavor Philippines.

    Sustainable scaling

    Benitez recounted how his appreciation for coffee began when he was a law student – he realized that he would rather be a barista than a barrister.

    After a trip to a coffee trade show in the United States, Steve decided to put up his own kiosk in 1996, with an initial capital of P150,000. Bo’s Coffee has since grown to be the largest specialty coffee store in the Visayas and Mindanao.

    The ability to scale up is a major factor in the selection process which Bo’s Coffee continued to exhibit last year, Endeavor pointed out.

    Benitez grew the business to 75 chains with 500 employees in 2015, and the company is planning to at least double in size by 2020.

    Screenshot 2016-06-17 12.42.06

    The firm’s social impact was another consideration for its selection. The panel noted that Bo’s Coffee sets an example for Philippine retail by partnering with social entrepreneurs for its nationwide distribution channel, allowing them to grow alongside the firm.

    These social entrepreneur partners practice sustainability by working with, and sourcing coffee from, local communities.

    As a newly-minted Endeavor high-impact Entrepreneur, Benitez will have access to Endeavor’s global network of over 4,000 business leaders who can help him accelerate the process of scaling up.

    The benefits also extend to free consulting services from top firms Ernst and Young and Bain Consulting, and potential access to Endeavor’s investment fund, should Benitez require it.

    “Bo’s Coffee is well-positioned for growth with plans to expand distribution in Luzon and Metro Manila. Further, Bo’s Coffee will push their message of supporting local communities and sustainability as the Philippines’ best homegrown brew,” Ayala said.