Mang Inasal and Jollibee
The biggest news among entrepreneurs this week is the decision of Edgar Injap Sia II to sell majority stake of his baby, Mang Inasal, to Tony Tan Caktiong’s Jollibee Foods Corp. for P3 billion.
From this story, entrepreneurs can learn two lessons.
First is the discernment and the courage a successful entrepreneur like Tan Caktiong has in giving an “unsolicited offer” to acquire Mang Inasal.
In JFC’s disclosure to the Philippine Stock Exchange, the company said the offer to acquire Mang Inasal, seen by many as the next Jollibee, was “unsolicited”.
It takes guts and courage to approach a competition with an offer like that.
Second: Sia’s courage and discernment that Mang Inasal may be better off under JFC’s care.
In his letter to the “Mang Inasal Family”, Sia said the sale will pave the way for a better Mang Inasal and for the brand to go global.
Although he said he was deeply saddened by the decision, Sia said it was also something that gave him joy, knowing that Mang Inasal will be under the care of the country’s largest quick service restaurant conglomerate.
Whether you agree or not with JFC and Sia’s deal, entrepreneurs should note that successful businessmen are courageous and are willing to make tough decisions and take bold moves for their ventures.
They never back down in the face of risk, they are unafraid to take chances. So what is that one chance that you are still hesitant to take?
Source: Entrepreneur.com.ph
Related Post:
Jollibee buys Mang Inasal for P3 billion
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