In the Philippines, Jollibee outlets are a common sight. This fast-food giant owes its success to founder and chairman Tony Tan Caktiong. Forbes magazine ranked him as the fifth wealthiest Filipino, with an estimated net worth of $3.2 billion as of 2023.
By March 2024, the Jollibee Group had grown to operate 6,886 stores worldwide. This included 3,337 in the Philippines and 3,549 abroad, with over 1,500 branches of its flagship brand spread across 17 countries.
Jollibee Foods Corp. (JFC) is focusing on expanding its international presence, particularly in the US and China, while continuing growth in the Philippines. The company plans to open 700 to 750 new owned and franchised outlets this year, both locally and internationally.
In the US, JFC aims to increase its branches to 500 over the next five years, targeting 30 cities. Additionally, it plans to strengthen its presence in the Chinese market.
Tony Tan Caktiong was born on January 5, 1953, in Fujian, China. His family moved to Manila seeking better opportunities, where his father worked as a chef in a Chinese temple in Binondo. They later relocated to Davao City, where Tony’s father managed a restaurant. With improved finances, Tony’s parents sent him back to Manila for higher education. He enrolled at the University of Santo Tomas, studying Chemical Engineering.
During a visit to a Magnolia Ice Cream plant, Tony noticed a poster inviting investment for a franchise store. The family invested P350,000 to open two outlets: Cubao Ice Cream House and Quiapo Ice Cream House. They moved back to Manila to manage the shops. As the business grew, they hired skilled workers for various roles.
At 22, Tony decided to add hamburgers and fried chicken to the menu, which proved successful. Recognizing the need for a unique identity, Tony chose the bee as a symbol of hard work, adding a cheerful twist to create “Jollibee.”
The Tan Caktiong family launched Jollibee in 1978. Despite the arrival of McDonald’s in 1980, Jollibee’s strong foundation remained unshaken. Some advised Tony to sell, but he persisted. Jollibee chefs catered to Filipino tastes, which contributed to the brand’s growth. Today, a Jollibee franchise costs at least P25 million.
Jollibee’s expansion continued with the acquisition of other food brands like Chowking, Greenwich, Delifrance, Red Ribbon, and Mang Inasal.
Tony’s success stems from his willingness to face challenges. “If you dream big and put your dreams into action, you will inevitably make mistakes. But don’t be scared to make mistakes. Just be quick to recognize them, learn from them as fast as you can,” he says.
Tony acknowledges there have been pitfalls, but he always recovered and continued his journey toward success. He views mistakes as opportunities for improvement. One such error was attempting to sell roasted chicken instead of crispy fried chicken, which he quickly corrected.
In his motivational talks, Tony emphasizes that while dreams are free, achieving them requires effort and determination.