ABS/CBN News reports from Manila in the Philippines that Potato Corner CEO Joe Magsaysay built the french fries brand into a global franchise business with annual sales of P1 billion. The business today has more than 500 outlets in the Philippines and around the world. In a publication by the Asian Institute of Management, where he obtained a masters degree in entrepreneurship, Magsaysay shared how he, as a 25-year-old food cart pioneer, succeeded in his quest. “If you want a brand to stick, market it to kids,” Magsaysay said, adding that the current millennial customers of Potato Corner are the same children who bought his products when it started 24 years ago. “When you market to teenagers and adults, they will shift to the next big thing. But kids? No, once you get them, they’re yours for life,” he said.
He developed the plan to get the business back on track in graduate school, after the 1997 Asian financial crisis forced it to scale down. He had initially wanted to pursue a donut business but decided on returning to Potato Corner. “I really believe in ‘one thing at a time.’ Potato Corner grew the way it did because we stayed very focused. We had a lot of opportunities to explore because of the success of the business, but we realized it was successful precisely because we were so focused,” he said.
Source: ABS/CBN News