Had he surrendered on day three of running his business, all 460 outlets of Mang Inasal all over the country and some 14,000 jobs would not have come into being.
For then 26-year-old Edgar “Injap” Sia, starting the food chain business could be just another “thesis paper” until he decided not to give up and push
forward.
The Start
It started when Sia was offered a space in Robinson’s Mall Iloilo, which used to be part of the mall’s parking space in 2003.
“It was offered to me and I didn’t even know yet what I wanted to set up in the space,” he said.
Aside from having no particular idea what to set up at that time, Sia didn’t know how to cook and didn’t have the money to start a business.
He solved that by getting a P2 million loan from his businessman-father who was then based in Roxas City.
When he got the loan, he already had a concrete idea on what to pursue. And he started studying food concepts, pricing, ambiance, expansion plans, and timelines. And he already had a name Mang Inasal.
“I did my homework and did all these so that in December 2003, I finally opened my first Mang Inasal branch,” said Sia.
Because the business was new, Sia had to be at the store from opening until closing time and would help in grilling the chicken, taking orders, and even pacifying customers who were served the wrong items.
birth pains
“It was a disaster! And worse, there was smoke all over the store that you can’t even see the people in front of you,” he said.
On the third day, a tired Sia told his wife that he was giving up on the business.
“She asked me ‘what about your loan from your Dad’? I said I’d just tell him to take it out from my inheritance,” he said.
He, however, changed his mind, and strove harder to overcome the birth pains of starting a new business.
Less than a decade later, Mang Inasal has grown into 460 outlets nationwide and provided employment to at least 14,000 Filipinos.
success factors
Sia attributed his Mang Inasal success to hard work, the system he set up to achieve business efficiency, and the successful blending of his entrepreneurial and corporate structure.
“I should say for a startup business to really grow, there is no substitute for hard work.You have to have that strong discipline to get up and take on the daily challenges until you steer your business to stability when it can eventually run on its own on a system,” said Sia.
The blending of the entrepreneurial and the corporate structure of the business is a critical factor for a business poised for expansion.
Sia said every businessman will have to define the structures that will help smoothen the transition from a startup business toward becoming a corporation.
In October 2010, Jollibee Foods Corp. acquired 70 percent share of Mang Inasal for P3 billion.
New Businesses
After his Mang Inasal success, Sia set up new businesses including Double Dragon Properties and Hotel of Asia, Inc.
Double Dragon Properties is a joint venture between Sia and Tony Tan Caktiong of Jollibee Foods Corp., which is the real estate arm of Injap Investments, Inc.
Hotel of Asia, Inc. is a company that’s into condotel projects under Hotel101 brand which was established in 2011.