History
Palamigan is one of the oldest local fast food- restaurants in Albay. It was founded by Mrs. Teresita Yulo Galang in 1963. The founder only reached the elementary level of education and only had P100 as capital. The first branch was located near BUCBEM, the space occupied by LBC. As the business grew, it started branching. As of today, there are only two remaining branches of Palamigan, one is located at General Luna St. in Daraga which is owned and managed by Rina G. Yulo and the other is located at Sagpon in Legazpi which is owned and managed by Ma. Theresa G. Yulo. The present owners are the children of the founder.
II- Interview
Question 1: Who is the founder of the business?
Answer: The business was founded by Mrs. Teresita Yulo Galang.
Question 2: What is the business/venture?
Answer: Fast food business.
Question 3: When did the business start?
Answer: The business started in 1963. We are operating for 50 years already.
Question 4: What motivates you in starting the business?
Answer: My mother was motivated by her passion in cooking to start the business.
Question 5: How was the idea conceived for the business?
Answer: The idea was actually from the business of my mother’s cousin in Guinobatan
which is actually a beer house. The name was also Palamigan.
Question 6: What process did the founder follow in developing the business? For instance, did the founder write a business plan, search for financing, etc?
Answer: There was actually no process or business plan followed. My mother started the business with only P100 capital and the business began to grow. As the business grew, she trained us to do every type of work involved in the business, cleaning, cooking, being the cashier, waiter, etc. She believes that it is a must for us to learn every work so that if the time comes that we are to manage the business, its operation won’t cease or won’t stop if the cook is gone or the dishwasher is not around.
Question 7: What have been the biggest issues the entrepreneur has faced at different stages of the venture?
Answer: There was a time that we became aggressive in branching. There was a rapid expansion and our loans have accumulated because we kept on opening new branches without receiving the profit from other branches. Because of this, some branches were closed.
Question 8: How did he/she deal with these issues?
Answer: She accepted the issue and became very careful before putting up another branch.
Question 9: What are the major personal goals and organizational goals that the entrepreneur has going into the next several years?
Answer: Our goal is to sustain stability. We also want to continually innovate in order to further improve our products and services to meet the needs of our clients. We also want to keep our business known for our trademark, our pancit.
Question 10: How do you innovate?
Answer: Whenever we are travelling, we go to places and observe the industry. Once we see something applicable to our business, we adopt it in order to improve our products and services. For example, presentation and packaging.
Question 11: How do you satisfy the expectations of your clients?
Answer: We satisfy our clients by providing quality service and products. We also transact with our customers with honesty because it is important to gain their trust for them to give loyalty in return.
Question 12: Do you plan to make Palamigan a franchise type of business?
Answer: No. We want to keep the business within our family. We also want to refrain from franchising in order to ensure and retain the good quality of our service and food.
Question 13: What words of wisdom can you give us?
Answer: First, if you are going to start a business, it must be your passion because it is important that you love what you are doing. Another is keeping honesty in your business transactions. One must also know his/ her own business and every work in the business. In doing business, you must always be innovative, resourceful, hardworking, positive and whenever there is a problem, you must always think of a solution rather than drowning into your problems.
GUIDE QUESTIONS:
1. What event affected adversely Palamigan?
2. Can a local company like Palamigan be global?
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