Edgar Sia II biography Essay

Down south in Iloilo city, he was once an obscure, down-to-earth businessman eking out a living. Hes nicknamed lnJap, the combined outset syllables of his parents ethnic origins father is intsik (Chinese), while mother is Japanese, both entrepreneurs. Instead of pursuing a business degree in college as desired by his parents, Sia took a course in architecture in college, but only to drop out later. Yes, hes a school dropout. Apparently bored by the daily routine of going to and from school, Sia tried his luck in business, a decision that proved to be the spell point of his life and career path.At 20, he tried his hand in running various businesses, ranging from family-owned hotel to the ubiquitous laundry and photo developing shops. position lot Like any typical Ilonggo, Sia liked to dine out. His favorite food was the hot up chicken served by fastfood chains Jollibee and McDonalds. But then, something was missing the fried chicken looked and tasted too foreign, westernized. It didnt suit the taste buds of typical Ilonggos or Pinoys. Wanting to be different, Sia struck the idea of a homespun food offspring serving Filipino-style street fare in a restaurant-type setting.He found an unoccupied 250 square meter spot in the parking lot of a popular mall in Iloilo city. That space became the birth place of the now popular Mang os emaciatede serving charcoal- broiled chicken with unlimited rice. It has since become a modern icon of the Ilonggo culinary culture. Parents To set his plans in motion, Sia spared no time and effort to borrow P2. 4 million as a start-up capital from his parents. Soon, Mang cadaverous caught fire in the local food scene. It opened to business on Dec. 12, 2003.Long queues of food habitus flocked to the resto, despite the ushrooming of similar establishment all all over Iloilo city. With popularity of Mang nasal surging not only in the city, but also in the neighboring regions, it was not surprising that many knocked on Sias doors a pplying for a franchise. But he was adamant in acceding to franchising. To Sia, its not unusual to witness huge crowds trying out a new resto in its first three months of operations. After six months, you have a 50-50 chance of sustaining that crowd.If after a year, they still keep going to you, you probably have a hit, he recalls. It was an understatement. Franchising What drew the crowds of foodies to Mang nasal was its charcoal-grilled chicken served with rice wrapped in a banana leaf. It was unique in the sense that it wasnt like anything on the menus of rivals McDonald, KFC or fifty-fifty Jollibee. The flavor was distinctively Filipino, as was the earthy dcor with wooden tables, handmade paper lamps and walls painted in orange, green and yellow.So popular that Mang nasal currently ate up the trade share of Jollibee and McDonalds in the fried chicken segment. From that lone nook and cranny in a mall, Mang nasal soon branched out to nearby ities and provinces largely aided by Slas decision to allow franchisees starting in 2005. manpowerus and sales In March 2012, Mang nasal grew to a network of 433 restaurants all over the country, chalking up gross sales of close to PIO billion since it opened to business in 2003. To date, it has about 14,200 workers and a market value of P7 Billion.Each store employs an average of 40 people. Despite the stiff competition in the grilled food business, Mang nasal still blazed new trails in the fastfood market. Its secret recipe is the use local herbs and spices. Grilled chicken isnt the only fare that Mang nasal offers. In response to the fast- pork sinigang, batchoy, etc. detective work that Mang nasal was giving its competitors a run for their money, Jollibee owner Tony Tan Cak Tiong Just couldnt bear seeing his flagships market dominance eroded by a new kid on the block.Jollibee Rather than resort to the futility of beating Mang nasal in the fastfood business, Jollibee instead took Sias company into its fold. Tan Ca k Tiong shelled out a hefty Php2. 8 billion to acquire 70 percent equity in Slas flagship in 2010. Somehow, the deal cut short what could have been Mang nasals long Journey to topple Jollibee from its position as the countrys number one fastfood chain. In no time, Mang nasal has emerged as the second largest chain contiguous to Jollibee, beating American multinational McDonalds.Apparently sentimental, Sia admitted that his sale of a majority stake in nasal to Jollibee was painful. In a letter to his Mang nasal Family, evince deep sadness like a father parting with his child as he handed over the care of the restaurant to the giant conglomerate. though relegated as a minority shareholder, Sia still exercises a certain degree of managing Mang nasal as part of the Jollibees overall management group. The youthful entrepreneur is not one who rests on his laurels.With Mang Inasal safely entrenched in its niche in the highly competitive fastfood market, Sia has begun nurturing the growt h of his new fastfood firm Decos, considered as the accepted batchoy resto. Never dreamed of From initial outlets in Iloilo city, Decos has already branched out to other parts of the country, including Metro Manila. Like the trailblazing Mang nasal, Sia is bullish his latest peril will reach the zenith of success, given his tried, tested and proven recipe of entrepreneurship.In 2011, the young Sia was recognized as one of the Ten Outstanding Young Men of the Philippines for Entrepreneurship. No less than President Aquino handed the prestigious lay out in ceremonies at Malacanang Palace. Sia is also a recipient of the Urban Leadership Award from the Canadian Urban Institute for Entrepreneurship in 2010 and his outstanding contributions to the nhancement of the public realm and the quality of life in the Metro Iloilo-Guimaras For two years, from 2011 to 2012, Sia made it to the elite list of Us-based Forbes pickup as one of the 40 richest Filipinos.With sales of Mang nasal booming over the past years, his net worth has zoomed steadily, amounting to a mind-boggling P5. 8 billion as of last June. At age 35, Sia has earned the distinction as the Philippines youngest billionaire he never dreamed of. Mr. Edgar J. Sia, lnJap, II is the Founder of the Mang nasal food chain. Mr. Sia serves as pass Executive Officer of lnJap Investments, Inc. lnJap Land Corporation (DoubleDragon Properties Corp)and Peoples Hotel Corporation.Mr. Sia has been Board Advisor of Philippine Bank of Communications Inc. since fantastic 29, 2012 and served as its Director from July 26, 2011 to August 29, 2012. He serves as Chairman of lnJap Investments, Inc. , lnJap Land Corporation and Peoples Hotel Corporation. He serves as Director of Jollibee. He was awarded the Small Business Entrepreneur award in 2010 by the Ernst & Young for best demonstrating management excellence in a business with assets less than Php100 million.