Extended News

Looking for business? Rice retailing offers 8-10-month ROI

10 April 2024

A LOCAL franchisor is urging Filipinos to go into the business of rice retailing as payback could be seen within eight to 10 months.

Goldmine Farm to Market president and founder Orlando Manuntag said rice retailing is a viable business in the country that offers early return-on-investment (ROI) because rice is a staple food in the Philippines, thus demand is stable.

Goldmine Farm to Market, one of the pioneers in rice retailing franchising, is participating in the upcoming Franchise Asia Philippines (FAPHL) 2024 at the SMX Convention Center, Pasay City from April 12 to 14.

Manuntag said the company is targeting to add 100 new franchisees in its participation in FAPHL this year.

“As goodwill, we are offering as much as P100,000 rebate for potential franchise owners,” he added.

Currently, Goldmine Farm to Market has 10 franchise holders across Metro Manila and Calabarzon, mostly overseas Filipino workers’ (OFW) families.

“We have procured a powerful POS [point-of-sale] system that allows franchise owners to supervise their stores anytime, anywhere,” Manuntag said, adding it has end-to-end operational and functional assistance to deliver a complete functional solution to daily transactions.

He said the Goldmine Farm to Market’s franchise package is in two phases.

The initial phase involves retailing of 12 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.

The second phase expands the franchise to include other agricultural products, such as organic products and corn coffee.

Manuntag said aside from providing a business to Filipinos, the company also ensures livelihood for local farmers.  

Source : businessmirror