BO’S OPENS 100TH BRANCH IN MAKATI
Though opening in Manila felt like a risky move, Bo’s Coffee founder Steve Benitez says it was necessary to grow his brand, and it clearly paid off
Homegrown coffee chain Bo’s Coffee will open its 100th outlet in the country next month on Makati Ave.
Bo’s Coffee founder Steve Benitez said the opening of the brand’s 100th store will further show the brand’s resilience amid the influx of foreign coffee chains.
By next month, the company will also open its first overseas branch in the Middle East, specifically in Qatar, which opening delayed due to stricter requirements.
The Cebuano entrepreneur attributed the growth of the coffee chain to the brand’s strong position as a “homegrown brew”.
Benitez said Bo’s Coffee sources its coffee beans from the highland farmers in Sagada and Benguet in the Mt. Province, Mt. Kitanglad in Bukidnon, Mt. Apo in Davao and Mt. Matutum in Tupi, South Cotabato.
Bo’s Coffee started in Cebu in 1996. After establishing the brand in his homecourt, Benitez said he moved to Manila in 2003 to bring the brand to a much wider market, exposing it to tougher competition.
Calculated risk
“When foreign coffee brands, global dominating brands at that, entered the local market, there could be two reactions—either you wait and see for the impact or face them. I chose the latter,” said Benitez.
Although he admitted that his move to Manila was a bit risky, Benitez said it has strengthened the brand’s equity, opened new markets for partner-coffee growers and produced employment opportunities.
“If you want to make money, stay in the province but if you want to grow your brand, be in Manila. Your equity lies in Manila,” said Benitez.
Bo’s presence in Manila has also paved the way for the company to open its stores to house more homegrown brands.
“While we promote Bo’s Coffee as a Filipino brand, we are also taking with us other homegrown high quality products of social entrepreneurs. We have made our coffee shops a launching pad for social entrepreneurs to plug-in their products to gain market access,” said Benitez in past interviews.
Benitez hopes to have 200 Bo’s Coffee outlets by 2020.