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  • MM Is A Wholly-Owned Subsidiary of Injap Investments Inc., Which Also Owns 35% of Doubledragon Properties Corp

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    Trisha Mae Mendoza Macalino
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    MerryMart plans to expand its branch network to 17 stores by December 2020 and 100 branches by the end of 2021. The company's goal is to reach 1,200 branches by 2030 that will generate PHP120 billion in annual systemwide sales. Currently, MerryMart has 18 branches as of November 2020 and generates income through franchising fees and sales at its owned branches. It offers several store formats including MerryMart store, MerryMart Market and MerryMart Grocery. MerryMart also launched a grocery delivery service with FoodPanda in 2021 to expand its market and sales.

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    Merry Mart

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    MerryMart plans to expand its branch network to 17 stores by December 2020 and 100 branches by the end of 2021. The company's goal is to reach 1,200 branches by 2030 that will generate PHP120 billion in annual systemwide sales. Currently, MerryMart has 18 branches as of November 2020 and generates income through franchising fees and sales at its owned branches. It offers several store formats including MerryMart store, MerryMart Market and MerryMart Grocery. MerryMart also launched a grocery delivery service with FoodPanda in 2021 to expand its market and sales.

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    106 views4 pages

    MM Is A Wholly-Owned Subsidiary of Injap Investments Inc., Which Also Owns 35% of Doubledragon Properties Corp

    Uploaded by

    Trisha Mae Mendoza Macalino
    MerryMart plans to expand its branch network to 17 stores by December 2020 and 100 branches by the end of 2021. The company's goal is to reach 1,200 branches by 2030 that will generate PHP120 billion in annual systemwide sales. Currently, MerryMart has 18 branches as of November 2020 and generates income through franchising fees and sales at its owned branches. It offers several store formats including MerryMart store, MerryMart Market and MerryMart Grocery. MerryMart also launched a grocery delivery service with FoodPanda in 2021 to expand its market and sales.

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    of 4

    Note: Additional infos

    18th branch source (as of nov.2020) targeting 25 by the end of 2020

     MerryMart Market will offer seafood, fruit, vegetables, medicine, gourmet and
    personal care products, the company said in a disclosure to the stock
    exchange on Friday.
     a small-format outlet with a three-in-one concept that combines a mini-
    grocery, personal care shop, and pharmacy.
     The first drive-thru MerryMart will rise along Diversion Road, beside the St.
    Joseph School. Sia said this was a new concept for them and they plan to
    deploy drive-thru options in “various major thoroughfares.
     But by the end of 2030, it expects to reach 1,200 outlets, generating total sales
    of P120 billion.
     MM is a wholly-owned subsidiary of Injap Investments Inc., which also owns
    35% of DoubleDragon Properties Corp.

    Read more: https://business.inquirer.net/305373/merrymart-bullish-
    despite-pandemic-to-introduce-drive-thru-outlet-in-2021#ixzz6lnZA9kK5
    Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

    ness.inquirer.net/305373/merrymart-bullish-despite-pandemic-to-introduce-
    drive-thru-outlet-in-2021#ixzz6lnYamDG7
    Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

    Pwede rin mission MerryMart plans to expand to 17 stores by December 2020,


    then 100 branches by end-2021. After opening its first store in 2019, the company
    set a target of 1,200 branches by 2030 to generate P120 billion in systemwide sales
    revenues
    What are the financial and business results of each business?

    Income Statement
    Period Ending: 30-Sep-2020 31-Dec-2019 31-Dec-2018 31-Dec-2017
    Total Revenue 782.73 2515.24 2116.97 1760.1
    Gross Profit 89.32 144.56 93.71 69.69
    Operating Income 3.49 46.51 57.93 28.5
    Net Income 0.84 28.01 40.6 20
    28 Million 40.6 Million 20 Million

    Income Statement
    45
    40.6
    40
    35
    30 28
    25
    20
    20
    14.5
    15
    10
    5
    0
    2020 2019 2018 2017

    Net income Operating Expenses


    2017 20 Million 41Million

    2018 40.6 Million 35.8 Million

    2019 28 Million 98 Million

    2020 14.5 Million

    *Income for 2019 went down due to high operating expenses.

    Ex. Branching out

    Jan- June 2020 13,667,937

    July-Sept 2020 836,452

    Total Net Income for 2020 14, 504,389


    *October to December Financial Statements are not yet presented/uploaded

    25.00%

    20.30%
    20.00% 18.80%

    15.00%
    2017
    11.40%
    2018
    10.00% 2019

    5.00%

    0.00%
    Sales Growth

    What is the contribution of each business to the overall financial


    performance of the whole?

     It generates income through its franchising agreements with its franchisee and also
    from its own branches, with a number of 18 branches as of November 2020.
     It also has MerryMart store, MerryMart Market and MerryMart Grocery.
     Merry Mart will receive the following fees from franchising agreements, which will
    add also to its income.

    Franchise fee of 1,200,000 ( VATexclusive),

    Ad fee 0. 5% of gross sales (monthly)

    Royalty fee 2% of gross sales (monthly)

    Admin fee 0.5% (monthly)

    Design fee of more than P180, 000

    Merchandise deposit fee of 900,000

     By 2030, it expects around 80 percent of its store network will be franchisees.


     MerryMart will start deliveries in bulk by April 2021 and it also teamed up with
    FoodPanda with the aim of becoming the first 15-minute grocery delivery service in
    the country.
     The grocery delivery service with FoodPanda covers convenience grocery goods,
    personal care essentials and other fast-moving consumer goods. This will expand
    the current market and sales of Merrymart especially this time of pandemic.
     Through these, amidst pandemic, MerryMart’s net income for the year ended 2020
    amounted roughly to P14,504,389.00

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