Pizza Hut, KFC and Subway are some of the fast food chains that plan to invest in opening new restaurants during 2020.
The Pizza Hut chain plans to invest close to $1.8 million in the opening of six new stores this year. The points of sale could be located in the areas of Aserrí, Paraíso de Cartago and San Ramón de Alajuela.
In Costa Rica, the Pizza Hut chain expects to invest about $1.6 million in the next few months in the opening of six new sales points outside the Greater Metropolitan Area.
Representatives of the company informed that the new premises will be located in Nicoya, Orotina, Quepos, San Rafael de Alajuela, Turrialba and San Ramón. In the case of the sales point in Nicoya, it was inaugurated last September 17.
In Panama, in the last three decades the business has been growing, which is reflected in the considerable increase in franchises, which compete for a share of the market.
The first international franchises to reach the country were Pizza Hut and Domino's Pizza in 1987 and 1988, respectively. Then others were established such as Tamburelli Pizza & Pasta, Athen´s Pizza, Ciao Bella Pizza, Pizzería Italiana and Napoles.
Thirteen fast food franchises will be opening 40 new stores this year, after 2015 saw the arrival of some new players and the departure of others.
A survey carried out by Nacion.com on the franchising industry revealed that about 40 new stores will generate 360 jobs this year, compared to the 654 redundancies recorded in fast foodrestaurants segment in 2015.
Between 2010 until October 2013 at least 500 restaurants were built in the country.
The data was supplied by the Association of Engineers and Architects (CFIA). The increase occurred in all areas and all categories, which include restaurants and bars, plus six other categories, as defined by the Treasury Department.
Not only fast food franchises are growing, but also hospitality ones.
For example, during the first six months of 2013, seven Friday's restaurants, established in the country and run by the local group UNESA, recorded revenues of $9 million. Although some of these facilities reported low sales, the company says it is due to the stabilization of consumers, the time of year and other factors.
In Panama, the population’s increased purchasing power and the economic dynamism are driving new investments by major fast food chains.
The companies Franquicias Panameñas, S.A., KFC and Pizza Hut are to invest $7.5 million in the construction of new stores and the refurbishment of several existing ones.
Pizza Hut, Pan e Vino, Papa John's and La Fabbrica opened eleven new restaurants this year.
With a $ 2.4 million investment, Pizza Hut will open six new stores and remodel another three. It also plans to open three coffee shops in their restaurants.
Domino's used to operate mostly as an express delivery service, but the new owners will open restaurants with capacity for 50 to 75 people. They will start with a store in the east of San José, and another in the west of the city.
With $1.4 million invested, Pizza Hut opened store number 30 yesterday.
The franchise has been operated for the last for years by Alturisa S.A., a Salvadoran firm representing the Pizza Hut chain of restaurants in Guatemala.
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