Jollibee Foods Corporation (PSE: JFC) is the parent company of Jollibee, a fast-food restaurant chain based in the Philippines. Among JFC's popular brands are Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King Philippines. Since its inception, Jollibee has become an increasingly profitable fast-food chain with 752 restaurants in the Philippines and 79 in other countries. Including all its brands, JFC has 2,510 stores worldwide and total system-sales of more than P82 billion by end of 2011. To date, the first branch of Jollibee is still operating in Coronet, Cubao under the Jollibee Foods Corp. In 1975 Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor[4] in Cubao. Sometime in 1978, Caktiong and his brothers and sisters engaged the services of a management consultant, Manuel C. Lumba. Lumba shifted the business focus from ice cream to hotdogs, after his studies showed that a much larger market was waiting to be served. Lumba became Caktiong's last business and management mentor. The Jollibee mascot was inspired by local and foreign children's books. Lumba created the product names "Yumburger" and "ChickenJoy". He had the company incorporated and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba formulated a long-term marketing strategyjoko: listing up a number of consumer promotions and traffic building schemes. Caktiong stressed that developing internal strengths was critical. The stores were re-designed, the service transformed into a full self-service, fast-food operation with drive-throughs. Not long after, Caktiong and Lumba went on an observation tour in the United States, attending food service and equipment conventions. Caktiong placed Lumba in charge of franchise development.
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