Top 10 entrepreneurs in the Philippines local

1. Henry Sy (Shoe Mart)

Shoe Mart, or SM for short, is one of the country’s retail behemoths, and far more than
just a mall.
It is now a well-loved institution of which many Filipino families hold fond memories. It
provides a wide range of services, including shopping, theatres, locations for date nights,
parties and other special occasions, ice skating, and food courts. SM started modestly and from
humble beginnings, despite its now upmarket reputation.
Henry Sy grew up in Jinjang, Xiamen, China, in a low-income household. Due to the
challenges in their home country, they moved to the Philippines in 1936 and opened a tiny
convenience shop in Manila.
Shortly after, World War II broke out and ruined the family business. Sy, on the other
hand, continued to pursue his entrepreneurial interests by selling worn military combat boots
and other items to American soldiers. This is where the name “Shoe Mart” originates: it was
Manila’s first shoe store at the time. Despite being unable to find vendors that could make the
shoes he wanted, Sy persisted.
Sy, who died in 2019 at the age of 94, was survived by his family. Sy’s legacy lives on
today in his many SM malls and other acquired businesses. As a result, he was one of the
world’s wealthiest men.
Today, the fashion industry looks somewhat different to when Henry Sy founded his
humble shoe store. Get a handle on this ever-changing industry with our Fashion Management
course.

2. Tony Tan Caktiong (Jollibee Foods)

The cheerful tagline “langhap sarap” – a Jollibee trademark – is well-known among
Filipinos.
Tony Tan Caktiong, another Chinese immigrant, is the brains behind this popular food
chain. His family maintained a Chinese restaurant in Manila at the time, which enabled him to
finish college.
He bought an ice cream shop in 1975, but owing to low sales, he decided to add other
items such as fried chicken, fries, and burgers. Customers came to the store to buy his products
after word spread in his area.
Caktiong was able to expand across the country after embracing the fast-food business
model, growing his humble restaurant into one of the Philippines’ most successful businesses.
 Furthermore, by establishing a franchise, he has been able to break into the
international market. With over 2,500 outlets in the Philippines and locations in the United
States, China, Saudi Arabia, Vietnam, Singapore, Brunei and the UK, Jollibee is a fast-food
behemoth.
If you’d like to set up your own food business, check out our Entrepreneurship in Food
and Beverage course, which will get you set up in this exciting, fast-paced industry.

3. Socorro Ramos (National Book Store)

Socorro Ramos began her career in publishing and retail as a salesgirl in a bookshop.
With a capital of PHP200, she and her husband launched National Book Store in Escolta at the
age of 19, selling books and school supplies to children. The Japanese imposed censorship on
books and publications at the time, which included her burgeoning business. She and her
husband supplemented their income by selling other products such as candles and soaps.
The Ramoses built a nine-story structure along Avenida after the postwar boom brought
increased revenue for the company. Ramos adopted a hands-on approach to running her
business, even designing the company’s logo herself.
The National Book Store now has around 3,000 employees. At the age of 98, Socorro
Ramos is worth an estimated USD 3.1 billion, making her one of the country’s richest people.
If you want to sell books, it’s also important to know how to balance them. Check out
our Bookkeeping for Personal and Business Accounting course to get your burgeoning business
off on the right financial foot.
4. Edgar Sia (Mang Inasal)
Edgar Sia, the brains behind Mang Inasal, is widely regarded as the Philippines’ pioneer
in limitless rice meals.
Sia, who is native to Iloilo City, dropped out of college at the age of 19 to start his own
laundry and photo-developing business. Sia, then 26 years old, decided to launch the fast-food
restaurant Mang Inasal – meaning “Mr Barbecue” in his native Hiligaynon – in 2003. In his
hometown, the first branch was erected in a mall parking lot.
The restaurant was a huge success. Jollibee’s Tony Caktiong bought Mang Inasal for
PHP5 billion after hearing about Sia’s growing business. Sia invested the proceeds from the sale
of Mang Inasal into banking and healthcare. He is the country’s youngest billionaire, at the age
of 42.
 If you dream of launching a fast-food franchise, you’ll need to make sure that the
products you sell are safe to eat. Take our Introduction to Nutrition and Food Safety course to
get off on the right foot.
5. Mariano Que (Mercury Drug)
Following WWII, Mariano Que discovered a commercial opportunity. Que, who had
worked at a local drugstore before the war, opened his own drugstore when he noticed the
demand for sulfa, a type of antibiotic used to treat bacterial illnesses.
He began selling good-quality sulfa for a low price. As a result, he was able to expand his
clientele. In 1945, he founded the Mercury Drug chain of pharmacies.
Mercury Drug was named after the Roman god Mercury, who was known for his speed
as well as for originating the medical industry’s symbol, the caduceus. He helped the company
grow over time, and it is today one of the best-known drugstores in the country.
Que’s knowledge of pharmaceutical principles propelled him to success. With
FutureLearn, you too can learn the essentials of good pharmacy practice.

6. Cresida Tueres (Greenwich Pizza)

Greenwich began as a modest over-the-counter pizza shop in Greenhills in 1971,
founded by Cresida Tueres. Tueres had a natural talent for cooking; her friends and family were
so taken with her food that they supported her in developing her humble shop into a national
franchise.
Jollibee Foods Corporation, impressed by Tueres’ commercial acumen and Greenwich’s
expansion, struck an agreement in 1994 to buy 80 percent of Greenwich’s stock.
The new company was renamed Greenwich Pizza Corporation after the successful
commercial agreement, and it launched its first store in the Ever Gotesco Commonwealth
Shopping Mall in 1994.
If you’d also like to open your own restaurant, check out our How to Open a Restaurant
course.

7. Milagros, Clarita, and Doris Leelin (Goldilocks)

When Milagros, Clarita, and Doris Leelin founded Goldilocks, it was a 70-square-metre
Makati store with only two cake displays and ten employees. Sisters Milagros and Clarita Leelin
had a passion for baking and opened their first branch with the help of their sister-in-law, Doris.
 Goldilocks debuted its franchising programme in 1991. The bakeshop franchise now has
around 420 stores, with additional locations in the United States, Canada, and Southeast Asia.
Goldilocks has grown from a PHP 66,000 start-up to a multi-million-dollar food company with
over 4,000 workers.
If you’d like to become a successful baker, check out our baking course offered in
collaboration with BBC Good Food.
Crispy King is a fast-food business, specializing in fried chicken. The company’s first Crispy King
store opened in Lopez Jaena St., Ormoc City with just 20 sqm. We aim to provide and deliver
the best quality crispy fried chicken to the masses at a very affordable price with the comforts
of dining inn. An alternative choice that is budget conscious and worth for your every
purchased.

Furthermore, the company sees opportunity for business growth and aims to create more job
opportunities and build better lives and goodwill to the community. This along with the
dynamism of it’s leadership and team, we continue to innovate our marketing plan and provide
you the best quality products at an affordable price.

Now, Crispy King operates more than 300 stores Nationwide, including Butuan, Cebu, Davao,
Leyte, Samar, Dumaguete, Surigao, Ilo-ilo and many more
Franchise Business and Bibliography
1. Crispy King
Crispy King is a fast-food business, specializing in fried chicken. The company’s first
Crispy King store opened in Lopez Jaena St., Ormoc City with just 20 sqm. We aim to provide
and deliver the best quality crispy fried chicken to the masses at a very affordable price with the
comforts of dining inn. An alternative choice that is budget conscious and worth for your every
purchased.
Furthermore, the company sees opportunity for business growth and aims to create
more job opportunities and build better lives and goodwill to the community. This along with
the dynamism of it’s leadership and team, we continue to innovate our marketing plan and
provide you the best quality products at an affordable price.
Now, Crispy King operates more than 300 stores Nationwide, including Butuan, Cebu,
Davao, Leyte, Samar, Dumaguete, Surigao, Ilo-ilo and many more.
2.