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Manila Bulletin devider Business devider Trade & Industry devider Farm to market venture targets 100 new franchises

Farm to market venture targets 100 new franchises

Published Apr 9, 2024 02:39 pm

Wholly-owned Filipino franchising firm Goldmine is targeting to close as much as 100 franchise deals this year to bring its total outlets to 110 this year. 
 

Goldmine President and Founder Orlando Manuntag said their Goldmine Farm to Market franchising concept has gotten several reservations during the upcoming Franchise Asia Philippines (FAPHL) 2024 to be held at the SMX Convention Center from April 12-14. 
 

“As goodwill we are offering as much as P100,000 rebate for potential franchise owners,” said Manuntag, whose family was originally engaged in rice retailing. 
 

To date, there are over 10 franchise holders of Goldmine Farm to Market spread across Metro Manila and Calabarzon. It aims to sign-up over a hundred turn key packages this year. 
 

Its farm to market model offers potential partners produce from the company’s own farm, particularly rice, to end consumers. While it offers a variety of basic necessities and prime commodities, they are largely focusing on rice retailing. 
 

Manuntag said their rice prices are lot cheaper because they produce and source their own products to be supplied to their franchise operators.  
 

In addition, the rice retailing concept offers fast return-on-investment (ROI) with an estimated payback of 8 to 10 months.
 

Its end-to-end operational and functional assistance delivers a complete functional solution to daily transactions.
 

“GoldMine Farm to Market produces stable demand for the commodity since rice is the staple food in the Philippines. We have procured a powerful POS system that allows franchise owners to supervise their stores anytime, anywhere,” Manuntag said.
 

Established in 1998, Goldmine Farm to Market recently discovered to benefits of franchising to growing its business. 
 

It participated in FAPHL 2023 as a new franchisor and became member of the Philippine Franchise Association (PFA).
 

Goldmine Farm to Market is one of the pioneering micro, small and medium enterprises (MSME) to offer rice retailing as a franchise concept.
 

Goldmine franchisees are mostly overseas Filipinos workers’ (OFWs) families who are looking for businesses to invest into.
 

The initial franchise package focuses on retailing 12 different rice varieties, including staples like regular and well-milled rice, alongside premium, fancy, and colored varieties such as brown, red, black, glutinous rice, and imported jasmine and Japanese varieties.
 

Phase two of the franchise agreement expands the franchise to include other agricultural products, including organic products as well as corn coffee.
 

Proceeds from franchising will be reverted back as additional capitalization to expand the production and market integration.
Manuntag explained that having more franchisees will help expand its contract growing deals with farmers and in turn ensure that Goldmine has the means to sustain rice supply to all of its franchises.
 

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