Time flies while you are crazed with opening and managing a bunch of restaurants. Our first Zubuchon restaurant opened in June 2011 and we have managed to survive our first 5 years, having grown to 8 branches for Zubuchon (excluding our private deck space) and two bizarre Italian cousins called Pigafetta. The business actually started 6.5 years ago, with our first take-away stall, but the restaurants were opened in 2011. The latest data for the U.S. has some grim statistics. An estimated 26% of all new restaurants apparently fail by the end of the first year, roughly 60% by the end of the third year, and fully 80% by the end of the fifth year. So we are obviously thrilled to have lasted this long. And if you (of porcine persuasion) all collectively keep your fingers crossed, we very much would like to finally open an outlet in Manila by year’s end. We are still nailing down a location as I type this… And three previous leases fell through, so nothing’s for sure and we need lots of fingers crossed. :)
To celebrate our fifth anniversary, we hosted a quiet dinner for 19 (two folks arrive late and are not in this particular photo) of our employees who have been with us from the start. Out of approximately 32 people in our opening team, we have managed to retain 60% of them for the full five year ride (trust me, that’s an amazing retention rate in the restaurant business). I am grateful to each and every one of them, and to all of our previous and current employees (now roughly 250!) for all that they’ve done for Zubuchon! And thanks to all those wonderful marketmanila.com readers who have visited our restaurants over the years, I am certain a huge part of our success was due to your patronage. Maraming Salamat!!!