Grocery start-up MerryMart accelerates expansion, inks first franchise deal
MerryMart Grocery Centers, owned by businessman Edgar “Injap” Sia II, has signed its first franchise deal as it strengthens its market presence.
Its first franchisee, businessman Arturo Oñas, who was also the first franchisee of Mang Inasal restaurant, plans to open a MerryMart store beside his Mang Inasal restaurant in Mambusao Sigma Road in Capiz province.
Having opened its first supermarket in April this year, MerryMart targets to roll out 1200 locations by 2030 that is estimated to generate 120 billion Philippine pesos (US$2.35 billion) revenue.
MerryMart is a household essentials store format combining a mini grocer, a pharmacy and health-and-beauty lines with each store having an average size of around 250sqm.
MerryMart´s holding company Injap Investments also owns People´s Hotel and Hotel of Asia Incorporated. It also co-owns DoubleDragon Properties Corporation, which develops CityMall shopping centres.
Injap Sia believes franchising will further strengthen the market grip of all the industries their group is involved in. The young tycoon has a strong background in retail business having grew up with parents who have been operating a successful grocery business for more than 30 years.
To support its rapid expansion, MerryMart will set up warehouses and distribution centres to be located at DoubleDragon’s CentralHub warehouse complexes. The company announces seven MerryMart branches under construction and a soon to be launched e-commerce platform.