Edgar Sia II biography Essay

Down s fall outh in Iloilo city, he was once an obscure, gross businessman eking out a living. Hes nicknamed lnJap, the combined starting line syllables of his parents ethnic origins father is intsik (Chinese), while mother is Japanese, both entrepreneurs. Instead of move a business degree in college as desired by his parents, Sia took a course in architecture in college, but exactly to drop out later. Yes, hes a school dropout. plainly bored by the daily routine of going to and from school, Sia tried his jeopardy in business, a decision that proved to be the turning head up of his bread and butter 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 characteristic I vastgo, Sia handled to dine out. His favourite pabulum for thought was the fried fearful served by fastfood chains Jollibee and McDonalds. But then, something was abstracted 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 tweedy food outlet 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 plaza became the birth place of the now popular Mang emaciated serving charcoal- grilled 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 nasal 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 oer Iloilo city. With popularity of Mang nasal surging not only in the city, but to a fault in the neighboring regions, it was no t surprising that many knocked on Sias doors applying for a franchise. But he was adamant in acceding to franchising. To Sia, its not whimsical to witness huge crowds trying out a immature resto in its first three months of operations. After six months, you encounter a 50-50 pass off 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 clothed in a banana leaf. It was unique in the sense that it wasnt like anything on the menus of rivals McDonald, KFC or even Jollibee. The flavor was distinctively Filipino, as was the rough-cut dcor with wooden tables, handmade paper lamps and walls painted in orange, thou and yellow.So popular that Mang nasal soon ate up the securities industryplace share of Jollibee and McDonalds in the fried chicken segment. From that lone quoin and cranny in a mall, Mang nasal soon branched out to nearby ities and provinces largely aided by Slas decision to allot franchisees starting in 2005. Menus and sales In March 2012, Mang nasal grew to a network of 433 restaurants all over the country, chalking up gross sales of determination to PIO meg since it opened to business in 2003. To date, it has about 14,200 workers and a mart value of P7 Billion.Each store employs an average of 40 people. Despite the affluent competition in the grilled food business, Mang nasal still blazed newfangled 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. Sensing that Mang nasal was giving its competitors a run for their money, Jollibee possessor 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 slaughter Mang n asal in the fastfood business, Jollibee instead took Sias company into its fold. Tan Cak 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 next to Jollibee, beating American multinational McDonalds.Apparently sentimental, Sia admitted that his sale of a majority interestingness in nasal to Jollibee was painful. In a letter to his Mang nasal Family, uttered deep sadness like a father parting with his baby as he handed over the care of the restaurant to the giant star conglomerate. Though relegated as a minority shareholder, Sia still exercises a sealed degree of managing Mang nasal as part of the Jollibees overall solicitude group. The youthful entrepreneur is not one who rests on his laurels.With Mang Inasal safely fix in its niche in the highly competitive fastfood market, Sia has begun nurturing the growth of his new fastfood firm Decos, considered as the original batchoy resto. Never dreamed of From initial outlets in Iloilo city, Decos has already branched out to other parts of the country, including tubing Manila. Like the trailblazing Mang nasal, Sia is bullish his latest venture will reach the zenith of success, accustomed his tried, tested and proven recipe of entrepreneurship.In 2011, the young Sia was recognized as one of the Ten Outstanding unfledged Men of the Philippines for Entrepreneurship. No little than President Aquino handed the prestigious award 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 Chief Executive Officer of lnJap Investments, Inc. lnJap knowledge base Corporation (DoubleDragon Properties Corp)and quite a littles Hotel Corporation.Mr. Sia has been Board Advisor of Philippine Bank of Communications Inc. since rattling(a) 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 exc ellence in a business with assets slight than Php100 million.