HOMEGROWN coffee brand Bo’s Coffee expects to open 35 new outlets this year and 50 more next year, according to its founder.
“As far as the company is concerned, we (will be) able to grow by 35 stores by the end of this year; and next year, we are looking at 50 stores,” Bo’s Coffee Founder and Chief Executive Officer Steve D. Benitez said on the sidelines of the Franchise Asia Philippines 2024 International Conference on Monday.
Founded in the Philippines, Bo’s Coffee has expanded its operations to include a growing number of outlets both locally and internationally.
He said that the company’s growth is mainly driven by franchising, and its capital expenditure will be focused more on the commissary and support systems.
If realized, the additional stores will bring the brand’s total number of locations to 160 by the end of the year and over 200 by 2025. Thirty percent of these will be company-owned outlets.
The brand is also expanding operations in Doha and Dubai.
“We will have 16 stores by the end of this year in Doha and four in Dubai. Two are operating in Dubai, and 14 stores are already open in Doha,” he said.
“We are talking to other partners, and Canada is on the table… But it is going to be a five-year plan, so it is like a rollout of 10 stores in 10 years or 12 stores in 10 years,” he added. — Justine Irish D. Tabile