Lifestyle

So You Want to Own A National Bookstore...

Here's how much it would cost.
IMAGE National Bookstore
Comments

National Bookstore (NBS), the country's largest chain of books and school supplies store, is opening one of its store concepts for franchising. This is the first time the 76-year-old company is considering expanding the business with potential partners outside of the founders' family.

NBS Managing Director Xandra Ramos-Padilla made the announcement as she discussed the family's thriving retail business at the Franchise Asia Conference 2018 on Wednesday, July 18. Ramos-Padilla is the granddaughter of NBS founder Socorro "Nanay Coring" Ramos.

"This year, we're starting a new chapter. We're opening doors and opportunities for potential business partners. We're opening NBS Express for franchise," Ramos-Padilla said in her speech. 

Unlike the full-store formats of National Bookstore branches, NBS Express stores mostly offer school and office supplies with books only accounting for 10 percent of the inventory. The Express stores are also smaller in size, usually at 200 square meters unlike the full-store formats of NBS branches found in leading malls that can go for 400 square meters. Ramos-Padilla said the store format is meant to carry NBS'  best-selling items.

ADVERTISEMENT - CONTINUE READING BELOW

"The NBS express stores are mostly the ones seen in community malls and town plazas," she said. "We've found that it's been very successful especially when it's in a good location, near schools, churches."

The company's expansion plan through franchising is in tune with its goal to roll out 500 stores by 2020. As of July 2018, the company has built 237 stores nationwide, 11 of which are NBS Express stores.

Since this is the first time the company is opening its business for franchising, Ramos-Padilla is keen on having partners that have had experience in entrepreneurship. 

"We're looking for active entrepreneurs, those who can look into the business like it's their own," she said. "We can grow the business organically but if we can find partners that can really look after the business then we can reach more customers." 

The franchise packages for NBS Express would require a minimum investment of Php6.4 million, which already includes the store's construction and equipment. The franchise agreement is good for 10 years.

ADVERTISEMENT - CONTINUE READING BELOW

The company is still keeping its estimated number of potential partners at a conservative number though as Ramos-Padilla said they are just aiming to sign three to four franchisees before the year ends. The school supplies chain is looking into expanding in rural areas in Luzon first before further exploring locations in Visayas and Mindanao. 

National Book Store is the country’s 373rd biggest corporation by revenue, according to BusinessWorld’s Top 1000 Corporations in the Philippines 2016. It grossed Php5.7 billion in 2015 and reported a net income of Php989 million that year.

This story originally appeared on Entrepreneur.com.ph.

* Minor edits have been made by the Esquiremag.ph editors.

Comments
View More Articles About:
Recommended Videos
About The Author
Elyssa Christine Lopez for Entrepreneur.com.ph
Elyssa Christine Lopez is a staff writer for Entrepreneur Philippines.
View Other Articles From Elyssa Christine
Comments
Latest Feed
 
Share
Dark and suspenseful classics from Hitchcock, the Safdie brothers, Nolan and more
 
Share
 
Share
The eruption caught the residents and nation off guard, exploding without warning at 2 a.m. as people were still sleeping.
 
Share
New series, one-offs, and standout podcast episodes from long-running favorites.
 
Share
Start afresh, and get ahead (and very well-dressed)
 
Share
Star Trek? Django 2? Kill Bill 3? An Aussie crime thriller?
 
Share
 
Share
The sakura trees were gifts from Kochi Prefecture and the Japanese embassy.
 
Share
It's all about that rockstar feel and the attitude that comes with it.
 
Share
Load More Articles
Connect With Us