Po family-led restaurant group Shakey’s Pizza Ventures Inc. (SPAVI) is expanding its Potato Corner kiosk business to Taiwan and Laos, tapping into the more substantial growth potential in the overseas market, particularly in Asia.

“These are two exciting markets that we believe would have some ability to scale,” said SPAVI President Vicente Gregorio in a press briefing after the firm’s annual stockholders meeting.

He added that, late last year, they signed a Potato Corner franchise agreement for Malaysia and “very quickly, our partner there has more than about a dozen stores in just a few months, less than a year.”

Gregorio said the franchisee in Malaysia is the same group that serves as their franchise partner in Thailand, noting that “this is a clear indication that we have partners for a long time, partners who remain very confident and supportive of our brand.”

SPAVI Chairman Christopher T. Po said the company’s international business is “growing faster than the domestic business, given that the runway is still wide...with Potato Corner and Peri-Peri seeing opportunities outside of the Philippines.”

While SPAVI’s international expansion is still in the developmental or investment mode, Gregorio said, “We are excited about the potential of our international division,” with Potato Corner having already proven its success in various markets.

“We are already in 15 markets outside the Philippines, and we have about 400 stores internationally for Potato Corner. The upside is exciting... but we should see some healthy growth in the next couple of years bearing any external factors beyond our control,” said Gregorio.

He added that, SPAVI’s international business will eventually be a key component of the company’s revenue stream. SPAVI’s international division currently acounts for about 20 percent of the company’s revenues.

Po said that, “over time you'll see that 20 percent number increase” although they have not set a specific target on the share of the international division to the company’s total revenues and earnings.

He also noted that, SPAVI’s international expansion will mostly be organic, consisting of their existing brands, particularly Shakey’s Pizza and Potato Corner, so that “we’re taling a Filipino brand to different markets with a lot of national pride.”

Po said they are ramping up the company’s overseas expansion since “it diversifies us geographically, so we won't be totally reliant on the Philippine market, and we will be able to take advantage of growth opportunities in other parts of the world.”

From a financial standpoint, he said this will allow them to diversify by currency because “you know that the Peso can be volatile so, at certain times, it's also good to have non-Peso related revenues. So it's quite strategic for us.”

While SPAVI’s existing businesses are enough for the company to grow its revenues and earnings by double-digits for the next five years, Po said “we are always open (to acquisitions) and, when the opportunity presents itself, if something comes along with the right fit with our portfolio, and we have the ability to win, and of course, at the right valuation, we were still very open.”