If anyone is familiar with the retail industry or even how restaurants work, the emphasis on having a good location cannot be said enough.
Location. Location. Location.
We always hear that.
Filipinos can be cute and creative ..
Mang Inasar for a local restaurant
Libing Things for a funeral parlor
Mami Pakyaw for a mami noodle shop
But the point is, even with fancy or funny names for your business, if you are in the wrong location, walang kakain dyan. You’re not gonna make money.
But what exactly do they mean?
Is it really the location that they’re talking about?
If you go into the mall, you’ll see the biggest brands
and most successful businesses have the best locations.
Starbucks. McDonalds. Jollibee. Chowking. National Bookstore…
Big brands that have a lot of money…
Which part of the mall do you normally see these brands?
In Mall of Asia, when you go through the main entrance on the first floor, you have no choice but to see…
…Starbucks on the right-hand side.
…Or Jollibee on the left-hand side.
And because all foot traffic goes through the main entrance, they couldn’t help but see your brand.
So it’s not the square foot nor the location. In fact, when they say ‘location’, what they really mean is ‘attention’.
Since 74 million Filipinos spend around 10 hours per day on their phone, that’s where the attention is.
So heads up and pay attention – this is where the newest opportunity comes in.