Siomai King Online Franchise Cost, Profit & Payback Period 2024

There are not many Filipino brands in the food industry with famous tastes and quality.

Siomai King is one of those rare businesses that was founded by JC Premiere Worldwide Inc., which offers five different flavors with its unique cuisine.

JC Premiere also owns other brands along with Siomai King. Perhaps Siomai King is the most popular brand among their other brands.

They were a normal food cart business until the COVID pandemic, but they changed their business model afterward and added online business to their category.

This allowed Siomai King to be a cheap option for those looking to own a franchise. Because they now give out online franchise businesses, too, in addition to the food cart franchise.

If you are thinking of owning a Siomai King, then it could be a good option for you. This article will take a look at the Siomai King franchise and other surrounding details.

Siomai King Online Franchise

About Siomai King Online And Franchise

Siomai King is, in essence, a concept owned by the JC Worldwide Franchise Inc. brand.

They were founded in 2010, and they offer the first and the original 5-piece Siomai in only one serving.

Siomai is a Filipino food, and Siomai King’s concept is named Shanghai, Hong Kong, Japanese, and Chicken.

Siomai also comes at an affordable price, making it a suitable food for every kind of person.

JC Worldwide Franchise Inc. owns more than one store, and all their brands, including Siomai King, commit to using quality ingredients every day with their meat and vegetables.

Their employees in food carts are also well-trained and always provide good service. This allows Siomai King to be a popular business for consumers, no matter where you are.


Siomai King Online History

Siomai King’s owner company JC Worldwide Franchise Inc., was founded in 2006 by two young entrepreneurs, Jonathan So and Carlito Macadangdang Jr.

The duo started the company after seeing the opportunity in the food franchising industry.

They first started with the idea to franchise, but then it evolved into having their own franchising company with several brands under their umbrella.

The first food brand was Burger Factory, and they continued to launch several other brands. One of those brands was Siomai King.

They quickly grew as they were offering niche food products with quality and fresh ingredients.

Siomai King was a food cart at first, but with the COVID pandemic, they added the online option to the franchising opportunities of the company. They have been giving out online franchises ever since.


Franchise Model Table

Cost Or FeesAmount
Initial Investment$258,07 (15.888 PHP)
Franchise YES
Franchising Since2020
Franchise-FeeN/A
Royalty-FeeN/A
LiquidityN/A
Estimated Outlets25+

How Much Does It Cost To Open A Siomai King Online Franchise?

Siomai King online franchise doesn’t require any extensive investment or costs associated with it.

You only need to pay the initial fee, which costs $258,07 in April 2023, currency exchange rates.

Once you pay this fee, you get access to everything about owning a Siomai King online shop as a franchisee.

The associated training, support, and operational information are provided to you by Siomai King free of charge.

If you require additional equipment or system operation for your franchise, this might come at a cost, but it depends on what you exactly need.

Apart from that, the fee you pay gives you access to the most fundamental things about being a Siomai King franchisee.


Siomai King Online Franchise Requirements

Siomai King Online Franchise Requirements

Siomai King doesn’t require any kind of requirement from prospective franchisees. Both on the financial and personal side, you do not need to possess something.

If you have the money to cover the initial fee for the entire franchise, then you can apply to get a Siomai King online franchise.

The application process goes to Siomai King once you make your application.

Then if you can prove that you are a real person and manage the store, you will most likely get your approval.

Once you get the approval for a Siomai King franchise, you can get started working after the initial training period.


Siomai King Online Profit & Revenue

Siomai King is a private company, which means they are not obligated to share their financial information with the public. However, the projected income of the Siomai King Franchise owner is between 700 pesos and 3000 pesos per day. So, the annual profit of the franchise owner will be $62,378.5.

That’s why there is no kind of information about how much Siomai King makes in any given year. All the numbers are estimations, and they are not fully accurate.


Payback Period Of Siomai King Franchise

The investment of Siomai King is $25,807, and the yearly profit is $62,378.5. So, to find out how long it will take to earn back the initial investment:

Payback Period = Investment / Yearly Profit = $25,807/ $62,378.5= 0.4 months or 1 Year

Based on these figures, it will take approximately 4 months or 1 year years to pay back the initial investment for Siomai King. This time period could be longer or shorter depending on your sales, revenue, and profit figures.


Siomai King Online Franchise Training And Support

Because the franchise is an online one, the training and ongoing support are not as diverse as other franchise businesses.

They still do provide training when you start and give you ongoing support for operational help for your franchise. Siomai King has its own training program for this.

The training mainly consists of teaching you about the menu and preparation of the food on the customer-facing side.

Then, they also teach you how to use their equipment and how to make inventory reports to keep track of the business.

Siomai King itself continuously monitors and maintains the entire concept and daily operations as part of their ongoing support.


Siomai King Online Franchise Terms Of Agreement And Renewal

Siomai King online franchise doesn’t have any kind of term of agreement or renewal. This is because the fee you pay is a one-time fee that gives you the rights to the brand forever.

When you pay the initial fee to buy the name, you get to keep it for as long as you would like without any term or renewal period.


Siomai King Online Franchise Obligations And Restrictions

Even though you are operating an online Siomai King franchise, you still need to follow certain obligations and restrictions.

These are mostly to keep the quality of the brand and offer the same services everywhere.

Siomai King provides you with the menu and the items to sell, and you are only obligated to sell those items on your menu and ship them.

In addition to this, you are not allowed to sell any items or products that Siomai King doesn’t approve of beforehand.


Siomai King Online Franchise Financial Assistance

Siomai King doesn’t offer any kind of financial assistance to prospective franchisees.

They also do not have any kind of third-party sources that helps the franchisees in finding the necessary funding. You have to cover all the necessary financial assistance yourself if you need it.

The reason why Siomai King doesn’t offer this option is that the costs are extremely low, and there is not much need for financial assistance.

When you pay the initial fee, there is no other additional fee you have to pay, including no royalty fees to the franchisor.

Aspiring entrepreneurs in the restaurant franchise realm have choices like Torchy’s Tacos Franchise, Cafe Rio Franchise, Checkers Franchise, Twin Peaks Franchise, and Applebee’s Franchise.


Siomai King Online Comparison

CompanyFranchise FeeRoyalty FeeInitial Investment
Master Siomai$5,604 (PHP 313,600)N/A$4,981-$5.567 (PHP 280.000-PHP 313.600)
Siomai HouseN/AN/A$6,254 (PHP 350,000)
Siomai King OnlineN/AN/A$258,07 (15.888 PHP)

Conclusion

The food franchise industry is one of the biggest industries in the world and has one of the biggest potentials to make money from.

Siomai King is one of the niche food companies that offer very specialized Siomai food. They have different varieties, and they are operated by a mother brand called JC Worldwide Franchise.

Siomai King offers both food cart and online franchise options, and the online one comes at a very low price where everyone can have one.

You get training and ongoing support to keep your Siomai King online franchise profitable and keep the quality. There are no franchise fees or royalty fees that you have to pay to the company.


Frequently Asked Questions 

Do I have to open a physical store with Siomai King online?

No, the whole point of Siomai King online is that it’s completely online, and there is no physical obligation.

All the things related to Siomai King online happen virtually without any other needs.

What is the difference between Siomai King online and a food cart franchise?

Siomai King online is an online food cart where you get orders online and ship the orders to the addresses.

Everything works virtually, on the food app or Siomai King’s own app. A food cart is a physical location that requires further investment and training to get started.

How much does it cost to own a Siomai King online franchise?

A Siomai King online franchise only costs 15.888 PHP, which equals roughly $258 in April 2023 exchange rates.

There are no associated fees such as franchise fees or royalty fees, and you get to keep the franchise rights forever.

Who owns Siomai King?

Siomai King is founded by Jonathan So and Carlito Macadangdang. Jonathan So is also the CEO of the company.

How many location does Siomai King has?

Siomai King has more than 1,000 branches nationwide and is still expanding.

Where is Siomai King headquartered?

The headquarters of Siomai King is located in San Juan City, Philippines.

Sources

https://siomaiking.ph/

https://siomaiking.ph/main/branches

https://www.siomai.house/franchise

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