Seaoil sees 25% growth

SEAOIL Philippines Inc. is aiming for a 25-percent growth this year through network and sales expansion to be driven by its flagship station and a new partnership scheme that requires low investment from potential pump station operators.

Company president for retail business and CFO Mark Yu said in a briefing that the company had recovered from the shock of the oil price crash since 2014 and was in a better position for growth. It recently opened a mega station (a large pump station with added amenities such as shopping areas) along the Subic–Clark–Tarlac Expressway (SCTEx) that will be fully operational by the last quarter of 2016.

“For 2016, we are targeting a 25-percent growth through continuous retail expansion and improving the performance of our existing stations,” said Yu. “The Seaoil SCTEx mega station will be the company’s banner station that will greatly improve our brand presence. It is also an opportunity to serve more motorists, especially those traveling from Northern Luzon provinces and cities.”

The company has also rolled out an innovative franchising package which allows aspiring entrepreneurs to operate a Seaoil station with less than P1 million in capital. Seaoil targets to sign in 60 station operators this year.

Under the partnership scheme, Yu said, Seaoil would provide the land and would spend on developing the station while the operator was required to invest a modest amount and to take care of sales and operations. “The ideal partner is someone who can sell to fleets. They can focus on selling and the company will provide support,” Yu said.