Edgar Sia II biography Essay

Down s revealh in Iloilo city, he was once an obscure, crude transmission lineman eking out a living. Hes nicknamed lnJap, the combined jump 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 tho to drop out later. Yes, hes a school dropout. seemingly bored by the daily routine of going to and from school, Sia tried his pot in business, a decision that proved to be the turning charge of his sprightliness 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. pose lot Like any typical I widego, Sia wish welld to dine out. His preferred nutriment was the fried grumbler served by fast nutrient chains Jollibee and McDonalds. But then, something was wanting(p) 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(p) 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 place became the birth place of the now popular Mang in straitened circumstances(p) serving charcoal- grill 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 besides in the neighboring regions, it was not s urprising that many knocked on Sias doors applying for a franchise. But he was adamant in acceding to franchising. To Sia, its not bizarre to witness huge crowds trying out a untried resto in its first three months of operations. After six months, you contain a 50-50 casualty 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 clad 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 vulgar dcor with wooden tables, handmade paper l axerophthols and walls painted in orange, common and yellow.So popular that Mang nasal soon ate up the commercialize share of Jollibee and McDonalds in the fried chicken segment. From that lone box and cranny in a mall, Mang nasal soon branched out to nearby ities and provinces largely aided by Slas decision to get out 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 fast to PIO million since it opened to business in 2003. To date, it has about 14,200 workers and a food market place value of P7 Billion.Each store employs an average of 40 people. Despite the morose competition in the grilled food business, Mang nasal still blazed unused 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 barrel 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 crush Mang nasal i n the fastfood business, Jollibee instead took Sias company into its fold. Tan Cak Tiong shelled out a hefty Php2. 8 one thousand million 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 adventure in nasal to Jollibee was painful. In a letter to his Mang nasal Family, verbalized deep sadness like a father parting with his small fry as he handed over the care of the restaurant to the large conglomerate. Though relegated as a minority shareholder, Sia still exercises a certain(p) degree of managing Mang nasal as part of the Jollibees overall worry group. The youthful entrepreneur is not one who rests on his laurels.With Mang Inasal safel y fasten 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 electron tube Manila. Like the trailblazing Mang nasal, Sia is bullish his latest venture will reach the zenith of success, granted 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 slight 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 t o the elite list of Us-based Forbes magazine publisher 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 come Corporation (DoubleDragon Properties Corp)and lots Hotel Corporation.Mr. Sia has been Board Advisor of Philippine Bank of Communications Inc. since portentous 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 excel lence in a business with assets less than Php100 million.