3 Successful local entrepreneurs here in the Philippines and their success stories

1. Henry Sy, Shoe Mart

henry-sy. SM is more than just a shopping mall. It is a beloved institution. Many of my favorite memories
happened in SM. From shopping, watching blockbuster movies, date night, ice skating to food tripping,
SM has it all.

However, this gigantic chain of more than 44 large-scale shopping centers in the Philippines and
throughout Asia has very humble beginnings.

Henry Sy came from an impoverished family in Jinjiang, a town near Xiamen, China. The entire family left
China in 1936 to help the family patriarch manage a thriving convenience store in Manila.

Unfortunately for the family, their store was burned down during World War II. However, business-
minded Henry saw an opportunity selling used military combat boots and other postwar goods from
supportive American soldiers!

His success led to the opening of his first shoe store, the SM in Avenida, Manila. Henry had problems
finding shoe manufacturers who could design shoes according to what he had in mind, but he persisted.
He spoke to customers and built his own network of suppliers and manufacturers.

That never-say-die attitude got Henry Sy to where he is now: one of the richest men in the world and a
world-class commercial center developer who provides opportunities to both entrepreneurs and the
working class!
2. Tony Tan Caktiong, Jollibee

tony-tan-caktiong. If you thought you only loved The Champ and Chicken Joy, then be prepared to be
inspired by the man behind the franchise.

Also coming from an immigrant family from China, Tony learned the value of hard work and dedication
from his father who worked as a cook in a Buddhist temple. Tony’s father started a Chinese restaurant in
Manila with his savings so he can send him to college.

In 1975, Tony bought a Magnolia ice cream parlor. However, it was not generating enough business.
After talking with his customers and people within the neighborhood, Tony decided to include
sandwiches, fried chicken, and French fries in the menu. In time, the restaurant found itself packed to
overflowing capacity.

By 1978, Tony had opened six more restaurants, but the main item was no longer ice cream. Tony then
decided to adapt the McDonald’s concept and named his franchise after his work ethic of being as “busy
as a bee.”

Today Jollibee has grown to more than 2,500 stores in the Philippines plus locations in the US, China,
Saudi Arabia, Vietnam, Singapore, and Brunei.
3. John Gokongwei Jr., JG Holdings

john-gokongwei-jr. John’s life story is a “rich-to-rags-to riches” story. John Jr. was born in China to the
scion of one of the wealthiest families in Cebu.

When the father died, so did the business and the family fortune was soon gone. John Jr. supported his
family by peddling items along the streets of Cebu by bike. Soon, he was trading items by boat to Lucena
City and to Manila by truck. Eventually, he started importing items from the US.

John Jr. soon realized that importing carried too much risk and low margins. Thus, in 1957, he borrowed
Php 500,000 from China Bank and started a corn milling business named Universal Corn Products.

By 1961, Universal started diversifying its products and launched several popular brands such as Blend
45. Universal Corn Products was renamed Universal Robina Corporation.

Today, the Gokongwei family owns several successful and highly diversified businesses. Among these are
Robina Land Corporation and Cebu Pacific.