Potato Corner celebrates its 16th year anniversary.
Entrepreneur Magazine Article
1.
Untruths in May 2008 Issue on Potato Corner Article
In said article, Mr. Go had interviewed Jose Magsaysay or Jomag as we call him. ... I confronted Jose Magsaysay about the untruths in the article and he claims that ...
www.entrepreneur.com.ph/board/ index.php?topic=39725.0 - Cached
If you search in the internet for jose magsaysay and potato corner you find the above site.
This is my side of this
Early this year a neophyte writer who claimed to be witting for the magazine set an interview with me to write about me and potato corners. We did the interview in our office and because it was about me, I told him my perspective about how I rose from being a working student and crew of Wendy's to the success of potato corner.
Then later, the article was published in the April or May issue of entrepreneur Magazine. To my surprise, I found it in accurate and I found some things that I think I was misquoted about. The article was never sent to me for approval before it was published.
Jenny Wieneke called me and called me over the phone "walang hiya ka . . ." and other stuff. And she told me she will write and complain to the Editor in Chief. I said sorry to her and I told her I never tell anyone that I started Potato Corner on my own, hat it was my idea and was its originator, as the article mentioned. I told Jenny that I was probably mis quoted. And I know that this new writer told things based on his pick up of his interview on me. If you see my history of interviews and write up and talks about myself and potato corner, I never mention that I was the one who started and originated it and in fact I give credit always to the Partners who invited me to join.
Now, even if I made a mistake, which people do, I hope the article that Jenny wrote and published by Entrepreneur Magazine the following month after that neophytes article was enough to correct this and time to all of the parties to move on.
I have no problem that Jenny wrote an article against the article written about me and Potato Corner because the article was indeed inaccurate but I do think that further posting on the web is no longer fair and balanced and will continue to destroy an image of the brand and the goodwill we have made for it.
jose magsaysay
Potato Corner 2008 plans
This year Cinco Corporation has renewed its care of Potato Corner by putting focus on brand development. Part of this years plan is to come out with new kiosk designs and new point of purchase models. New products are on the mainstream and new sizes to increase average checks have been launched which shows positive results. Potato Corner is set to open 20 more shops within the second half of 2008.
During the second quarter of this year, 2008, Cinco Corporation engaged the services of Mansmith and Fielder's, Inc., a premier marketing consultancy group headed by Marketing Guru's Josiah Go and Dr. Ned Roberto. One of the outputs from these marketing activities, headed by Senior Marketing Partner,Weena Pineda, was the completion of the Potato Corner brand DNA. This brand DNA will now synchronize and put focus all marketing and operating activities to grow the brand and increase performance.
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Mansmith and Fielders, Inc., founded in 1989, is headed by the most multi-awarded business educator in the Philippines - Chairman and Chief Marketing Strategist, Josiah L. Go (Awardee, Ten Outstanding Young Men of the Philippines (TOYM), Ten Outstanding Young Persons of the World (TOYP), Philippine Marketing Association’s Agora, and the Association of Marketing Educators’ Lifetime Achievement Award). Our roster of consultants and speakers is comprised only of CEOs or members of top management who are successful practitioners and entrepreneurs with strong theoretical backgrounds and passion to help clients attain their KRAs. Specialist in marketing and sales training offering segmentized programs to its clientele, Mansmith and Fielders, Inc. conducts both public and in-house seminars to broad base of top 1000 corporations, both local and multinational. We also provide marketing big idea services.
Mansmith and Fielders, Inc.
Potato Corner, Hall of Fame
2003 was indeed special for Potato Corner, because it was awarded by the Philippines Franchise Association and the Department of Trade and Industry the Hall of Fame award for best Franchise for winning the Best Franchise of the Year in Kiosk Operations for 3 consecutive years.
Potato Corner founding Partners
The Founding Partners of Potato Corner (opened its first outlet in 1992):
Danny and Marivic Bermejo
Jorge and Jenny Weineke III
Ricky and Lisl Montelibano
Jo and Inez Magsaysay, Jr.
Entrepreneur's Helpline
Entrepreneur's Helpline (Philippine Star, 04/07/03) Moving up an Enterprise and the QFP Model
by:
Prof. Alejandrino J. Ferreria
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I have always emphasized the irrelevance of price in various articles and in my caseroom discussions because I believe that a genuine entrepreneur is one who is able to sell the product/service for Value not Price.
Recently, fellow ACE Guru Danny Antonio and I had a chance to discuss the QFP model for improving sales with two students. They were defending their Entrepreneurial Venture, an alternative requisite for the MBA program for which the traditional topping-off is the Management Research Report. While in the typical MRR the students research on an industry and a specific firm to come up with a strategic plan, in the EV, students start up an enterprise and operate it during a good part of their second year of graduate studies at AIM. They have to regularly report their progress and learning experiences and submit a culminating document which includes a three-year plan on how to take the enterprise forward. In fact, many students wind up continuing the venture even after graduation.
These students had successfully incubated a lemon drink and were on the brink of entering the commercialization stage. In the course of our meeting, we asked them to formulate new strategies to increase sales in order to take the enterprise forward. Guru Danny Antonio wanted the students to come up with sales increasing strategies and brought out the QFP model for consideration: Q = QUANTITY. F = FREQUENCY and P = PRICE. In effect, the QFP model is the revenue equation. But what is interesting is the sequential ordering of the factors where, just like the QDP model often discussed in past articles, P or Price is last.
For the QFP model, the first line of attack in order to increase Revenues is to increase Quantity. This can be done by making new users buy, or for new dealers to sell, the product or service. The next line of attack is to increase Frequency. This can be done by increasing the use-per-unit-time of current users. A Price increase is only the last resort.
From a strategic perspective, a revenue-increasing marketing strategy must have clear programs whose objectives are: (1) to increase the number of new users and/or dealers, and (2) to increase the frequency of purchase of current markets.
The point is to focus on new customers first and these can come from:
• New uses of the product/service
• New customers never reached before
• New areas never reached before
• New dealers/retailers
On the matter of increasing frequency of use by existing users, these can come from:
• New uses/benefits of product/service
• More consumption/utility per unit time
Going back to the students’ Entrepreneurial Venture, the lemon drink had respectable sales performance. To start up, these budding entrepreneurs used a network spanning parents, relatives, friends, classmates, and neighbors. From this, they were able to generate the barest minimum initial capital required. They used OPM (this refers to Other People’s Money not the more popular acronym for Original Pilipino Music).
It also meant getting credit lines from suppliers of firms with whom their parents had business relationships. Their lack of business track record was offset by relationships established by members of their network. They used idle family assets. They literally took a free ride on trips that their family vehicles would take. Such resourcefulness and networking ability are definitely crucial to a start-up’s survival. In fact, these traits brought the venture from infancy to toddler stage in less than a year. Now, it is ready to run.
What Guru Danny Antonio and I wanted to do was to push these two students and make their baby run, and run faster -- sooner than later. So we subjected them to a battery of pointers and questions:
• Increase sales faster but keep your price. You are in a highly price sensitive game. The game cannot be won by price.
• Use the QFP model but increase the Q first!
• Your current dealers were generated because of networks and relationships. What did they waive because of the relationship? You may soon run out of dealers and need to go outside your network. You must know what they gave up.
• Are there other distributors, dealers or retailers you have not tapped? Who are they? What will make them listen to you? What do they need?
• Your product is fundamentally good. Does it give good margins to dealers/retailers?
• Are there other people who can benefit from your product? Who are consuming them and why? Is there a big untapped market out there?
• Increase the F next! Can your current consumers/dealers buy more frequently? What will make them buy the same volume frequently?
• What does you experience with the current customers/dealers tell you? Has the product gone out of stock in some of your dealers? Could they have sold more…IF only….?????
It was at this juncture that the two students smiled upon realization that their baby was ready to run fast. They realized that they had to come up with a program to increase quantity of sales by tapping outlets and distributors outside their network. They must know what margins the alternative products offer. They must identify ways of increasing the Quantity opportunities from new customers and use Creativity to address and seize them.
The students saw that there was an opportunity to increase the frequency of purchase by existing dealers/customers since this would impact on sales. A program to increase the frequency and volume of purchase by existing channels was needed. They must identify ways of increasing the Frequency opportunities from current customers and use Creativity to seize them.
Bottom line was – they knew they needed to reflect on their experience in running the enterprise and to learn from it. The utilization of learnings to take control of their destiny must be done on every day. Opportunity- seeking and the use of Creativity are part of the daily grind of these two students and all genuine entrepreneurs.
(Prof. Alejandrino Ferreria is the Dean of the Asian Center for Entrepreneurship of the Asian Institute of Management. Please address comments and inquiries to ace@aim.edu.ph.)
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Cinco Corporation's current CEO, Jose "jomag" Magsaysay, Jr., was graduated from the Asian Institute of Management in 2001 as batch 3 of the Master's Degree in Entrepreneurship (ME). Andy Ferreria was one of his professors and Danny Antonio was his Guru in the ME program.
2008 Board of Director's of Cinco Corporation - Potato Corner
2008 Board of Director's of Cinco Corporation
- Jose G. Montinola Jr. - Chairman of the Board
- Ricardo K. Montelibano - President
- Marivic Ong-Bermejo - Treasurer
- Ma. Inez Montelibano-Magsaysay - Director
- Francisco Conrado P. Banzon - Corporate Secretary
- Alejandrino J. Ferreria - Director
- Danny Antonio - Director
- Jose Magsaysay Jr. - CEO, ex-officio
Cinco Corporation is the owner ans operator of the following brands/businesses:
- Potato Corner
- Bamboo Asia Bar and Grill Restaurant
- Manila Deli Sausages
- Manila Deli Bistro Restaurant
- Quick Stix
Potato Corner
In 2003, Potato Corner was given a Hall of Fame award for best franchise by the Department of Trade and Industry and the Philippine Franchise Association. This distinction was in recognition for its Franchise Excellence by winning the Franchise of the Year in Food Kiosk Category three years in a row. Francorp, the international Franchise Consultancy firm, also used by well known brands like Jollibee Food Corporation, through its Philippine affiliate awarded Potato Corner through its parent company Cinco Corporation, the Franchise Excellence Award for one of the outstanding Franchise company's in the Philippines. This award was handed to the Officers of Cinco Corporation (Jose Montinola Jr., Ricardo Montelibano, Marivic Ong-Bermejo and Jose Magsaysay Jr.) by the Bing Sibal-Limjoco (Chairman of Philippine Franchise Association), Samie Lim (Chairman Emeritus of Philippine Franchise Association/Vice-Chairman of Philippine Chamber of Commerce and Industry and Father of Philippine Franchising) in a ceremony held at the Ayala Musuem at the Greenbelt, Makati City.
Manila Deli Store
Manila Deli Store
A new food retail concept that was launched at this years International Franchise Expo 2008 (July 11 to 13) at the SMX Convention Center at the SM Mall of Asia was a huge success. This concept store featured grilled sausages served in the City of Manila landmark backdrop. Music of Manila by Hotdog and Manila Girl by Put3ska were featured including cooks and crew that sang and danced to the music.
Potato Corner Board of Directors
The 2008 Board of Directors of Cinco Corporation, the company that owns and operates food brands like Potato Corner are:
- Jose Montinola
- Jose Magsaysay
- Ricardo Montelibano
- Marivic Ong-Bermejo
- Conrado Banzon
- Andy Ferreria
- Danny Antonio
Potato Corner Business Partnership Program
Potato Corner is offering a no cash out Business Partnership Program. Get this while its hot . . . call their office at 5345845 to know more about this
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