Wisynco to invest another US$1 million in 3 branded restaurants
WISYNCO Foods Limited plans to further invest over one million US dollars to establish restaurants after launching its first ever dual store, which combines fastfood franchises Domino’s and Wendy’s, said Andrew Mahfood, Director of Finance of WISYNCO Group.
Mahfood declared that in the next twelve months, WISYNCO Foods is attempting to open three more stores, one dual and the other two single restaurants. The investment cost affixed to a dual store is over half a million US dollars, the pricetag attached to the newly opened branch in Central Plaza on Constant Spring Road, while a single restaurant costs about US$300,000 depending on the brand being opened.
“Over 200,000 people pass through this area and our fastfood business is all about driving customers through our stores, giving them great service, the right product and having them go about the rest of the day. So they can get a convenient meal in a quick time” said Sean Scott, CEO of WISYNCO Foods.
The dual store provides employment for 40 persons with 20 to 25 persons being hired for each single store. In total, about 90 more persons stand to benefit from the possible store openings. Not only that, with the planned expansion, WISYNCO also plans to extend its brand into areas that it has yet to penetrate. Among the areas being considered are Manor Park, rural Jamaica and Downtown Kingston.
“As WISYNCO’s mandate is to improve the lives of our people…we believe there’s going to be a lot of momentum in the future with the renovations that are going to be happening…It’s an area that we’ll strongly consider” Scott told Caribbean Business Report.
Adding to that sentiment, His Worship, Desmond McKenzie, Mayor of Kingston, said that Downtown Kingston is a viable location for a store, even offering his assistance to WISYNCO’s heads to find a suitable location.
“Something like this would only further enhance Downtown Kingston. There are very few fastfood restaurants there and something like this would do wonders now because Downtown Kingston accounts for the largest concentration of persons in the city on a daily basis. It is the largest commercial centre in the country so the potential is great, in terms of getting an establishment like that down here to succeed.”
“The potential is there, it is great and it’s for us now to take it a bit further and expand on that and to make it a reality.”
When asked about the reasoning behind combining the two stores and the possibility of each detracting from the service of the other, Scott said that the company believes in the dual concept model and that they believe loyal customers of the two will continue to support them but that they will also be exposed to the offerings of the other, which cannot be a bad thing.
Mahfood added, “It’s easier to manage them, easier from a management position to deal with them, staffing them…”
“It’s something that we plan to do. This market will give us a great test for how the product will be accepted. We are hoping that growth and the acceptance by the people will then catapult us to move into the areas that we have our eyes on.”
The opening of the dual store now means that WISYNCO now has 10 Domino’s location and 4 Wendy’s restaurants in Jamaica.
Domino’s has been owned and operated by WISYNCO Foods Limited since it started local operations in1997 while it acquired the Wendy’s franchise in 2007.
Photo caption: Director of Finance for WISYNCO Group, Andrew Mahfood speaks with Mayor of Kingston, His Worship Desmond Mckenzie.