Ice Monster – Making A giant Leap in the World of Cold Desserts
| Posted by Carina Roncesvalles in Business Tips,Franchise Opportunities on 31st January 2007 |
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By Carina Roncesvalles
Innovation is one of the main ingredients for a successful business. However, it may be risky to put up a business in the untested market but when the business formula proved to be a hit, the success is sweeter. This, in a capsule is the story behind Ice Monster - the monster on the business of iced desserts.
Chadwick Ragas, President of Ice Monster told Magnegosyo.com that the concept behind the company came from his travels abroad in 2003. “It was very popular and it gave me an idea to bring it to Manila,” Ragas said.
With Ice Monster, the delicious possibilities are endless. The iced dessert mainly consists of ice shavings made more exciting by a variety of toppings such as mango, starwberry, brownie fudge, cookies and cream, blueberry and peach, choco banana, buko pandan, kiwi, Japanese kakigori, coffee jelly, mango pomelo, aloe honey, peanut, red grapes, saba langka, choco waffle, and taro red bean.
The natural entrepreneur
Entrepreneurship runs in Ragas’ veins that is why the freezer that gave birth to Ice Monster was built easily.
“I have been into business since 1997, my partner and I started with importation of computer chips, central processing units and components. We also own a day spa in Quezon City and some other businesses before Ice Monster. I have been fortunate to be exposed early into business because both my parents are successful business people, so since I was young I’m programmed to be an entrepreneur,” Ragas said.
When Ice Monster started in 2003 with less than P1 million in initial capital, six pairs of hands brought to the public the trendy and tasty twist to the iced sweets. Now, Ice Monster has more than 200 employees in 38 stores.
It took around four months to freeze the Filipino taste and make them embrace Ice Monster. Soon after the four-month cooling period, the innovative business concept of Ice Monster captured the Filipino palate.
“The first four months was slow in terms of sales but we were confident because the customers’ feedback was all good and they said we have a good concept. So we knew it was just a matter of time,” Ragas said.
He added that return on investments entered Ice Monster’s freezer on the first year.
Franchising – making Ice Monster even cooler
The temperature for Ice Monster became even cooler when the company got franchise inquiries on its second year – a testament that the new twist to the iced dessert and snack has indeed became the “coolest hit” in the country.
“When we started, there was no plan at all to have franchisee. However, we received a lot of inquiries about franchising. So we decided to consult a specialist and started awarding franchise to families and friends on our second year,” Ragas said.
Allowing more people to experience the new character of ice was made possible through franchising. The franchisees of Ice Monster have embraced the innovative business concept and built their own freezers through total initial investment of P1 million to P1.5 million, including the P400,000 franchise fee.
The application procedure for an Ice Monster franchise starts with the submission of documentary requirements: letter of intent; application form; and photocopies of credit cards, billing statements, and bank statements.
The possible franchise locations should have a floor area of at least 10 square meters for a kiosk, and 30 to 50 square meters for a stand-alone unit.
Ice Monster will then set-up an initial meeting with the franchise applicant, during which the company will provide the step by step guide to the business. Financial details will also be discussed.
After the meeting, an on-site inspection of the proposed franchise location will be conducted by Ice Monster.
Ragas noted that the franchise location determines the fate of the business. “Location is the most important factor in setting up your business. It’s better to pay more for a location which has potential to be seen rather than paying a cheaper rent on a location hidden inside,” he said.
The company will then notify the franchise applicant in writing whether the proposed location is suitable or not, within a reasonable period.
“After receiving written notification indicating that the proposed location is suitable, the applicant shall sign a Confidentiality Agreement. The applicant shall, not more than a fixed period from receipt of the notice, return the signed Confidentiality Agreement to Ice Monster; otherwise Ice Monster will have no further obligation and liability to the applicant. After receiving the signed Confidentiality Agreement, Ice Monster will furnish applicant with copies and listings of certain items,” Ragas said.
The payment of half of the franchise fee then follows, after which the franchise agreement will be sealed by Ice Monster and the franchisee.
“The applicant will complete all requirements necessary for the lease of the premises from the owner/possessor thereof. Within a fixed period after the on-site inspection, the applicant will submit a signed lease contract; otherwise, the Deposit shall be forfeited in favor of Ice Monster and will have no further obligation and liability to the applicant. However the applicant’s obligation under the Confidentiality Agreement shall continue. Upon receipt of the signed lease contract, the applicant will pay the balance of the Franchise Fee,” Ragas said.
For Ice Monster, franchising proved to be a practical method to expand the business and reach out to more people and let them experience the reinvented iced dessert.
In a bid to cement good relations within the Ice Monster network, the company supports all its franchisees with its supervisors visiting the stores regularly.
“We are the pioneer in the shaved ice business, and our shaved ice taste better than the competitors,” Ragas said, adding that Ice Monster keeps loyal clients and attracts new ones by maintaing the high quality of its products.
Ice Monster continues to take leaps and bounds in the iced desserts business. Ragas noted that “our ice and the perfect blend of all our ingredients” gives Ice Monster the competitive edge to stand out as the leader in the world of ice.
About Carina Roncesvalles: Carina Roncesvalles is a Journalism graduate from the University of the Philippines in Diliman. Carina has worked as a Reporter for BusinessWorld. She is nowworking as a full-time writer for a Makati-based public relations company.
14 Responses to “Ice Monster – Making A giant Leap in the World of Cold Desserts”
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hi! good day.. i would just like to inquire if youre open for franchise in cebu?
hope you can post some of your best seller ice monster product coz’ i know there are some that will amaze how you can do it… and they will love it very much!!!!!!!!
id also hoping that you can franchise here in calamba…
Hi! i am looking for business to franchise, kindly send me the details/requirements, how much is the capital etc… on how i can franchise ice monster here in olongapo, i hope you are open for franchise here in our place. Thanks!
Good to hear your inquiries!
Guys, check out the new website of icemonster.
More new product…good to taste!
elow po.. nag-aalow po ba ang owner ng ice monster ng seminar about sa naging history ng business nila??
kailangan po kasi nmin sa course namin,…
entrepreneurship student po ako from pamantasan ng Lungsod ng Pasig.. if ever po paki-txt na lang po ako.. here is my number 09089118837.. thanks po
I was wondering if I could recieve more information on your franchise. I am very interested in starting a business here in my location.
Can you please send me the details and procedures of this franchising business. Thanks!
You think we can bring this here in bahrain? can you email me some brochures or link to your website..need further study..^_^
Hi! i am looking for business to franchise, kindly send me the details/requirements, how much is the capital etc… on how i can franchise ice monster here in kidapawan city i hope you are open for franchise here in our place. Thanks!
Can you pls. send me more details/ requirements/ franchise fees, etc. I’m frm. Cabanatuan City. Thank you.
Hello. I’m from Dagupan. I’m interested bout your product. Can you pls send me the details bout the franchise.
Good Day.I am looking for franchising oppurtunities in our city. Can you please send me details & requirements about the franchise? thanks
Good Day.I am looking for franchising oppurtunities. Can you please send me details & requirements about the franchise? thanks
Good day Ma’am/Sir:
I am interested about the business, I would like to have the franchise information, its structure and its financial statement. Thank you for the respond.