An entrepreneur who was able to build a successful unli-steak business shares some tips that could help aspiring entrepreneurs.
For the price of P399, you can enjoy unlimited steak at Fiery Meats. But for entrepreneurs, is it a profitable business strategy? Mark Joseph Buela, the owner, said it definitely is!
Mark Joseph recalled that there came a point when they didn’t have any source of income. Driven by their needs, he and his wife decided to venture into selling food online.
“Since wala kaming source of income, nag-try kaming magenta ng food online. Since yung wife ko may alam naman sa pagluluto, at sabi ko na nothing’s impossible naman, kesa magutom kami,” Mark shared on GMA’s Pera Paraan.
Their food business became a hit that they were able to build a food cart. Soon, the couple decided to open a mini eatery in their house’s garage to accommodate more customers. Finally, Mark Joseph and his wife’s hard work paid off, when they opened a huge restaurant serving steak in Bacolor, Pampanga.
The couple has come a long way! From their capital of P15,000, they are now earning P650,000 to P1 million a month.
Mark Joseph shared that his vision for his steak house was to offer affordable steak that an ordinary Pinoy can enjoy. “We want to make it affordable para sa masang Pilipino,” he explained.
But how can you make affordable steak? Mark Joseph said that it’s important to find direct suppliers of meat, so you can cut its cost and serve it a an affordable price. He said, “Since we’re directly connected sa mga importers sa Pilipinas, we were significantly able to bring down yung cost.”
According to Mark Joseph, the success of an “unlimited food” business model depends on the number of customers. You have to remember not everyone will be the same. Some will eat less, while there are those who can eat more. Your profit will come from those who eat less but will still pay the same amount.
“For example, out of 10 na Filipino people na kakain, apat dun ang makakain more than dun sa binabayad nila. Yung anim dun, mga matatanda, mga babae, mga bata. Eventually, we are able na makabawi kapag sinuma mo lahat yun,” Mark Joseph explained.
It seems like steak is also a good business idea if you know how to handle it well. An entrepreneur who started an ‘ihiwan’ business, was able to turn it into a steak house and expand to 3 branches in just a year.
How To Make Fiery Meat’s Filet Mignon Steak
Prepare your ingredients which include steak, salt, pepper, butter, special sauce, sugar, olive oil, rosemary, and garlic.
First, season the steak with salt and pepper. Heat the pan and add oil. Ensure that the oil is hot before putting the steak, so you sear the meat well. This results in a crispy crust on the outside but juicy, tender meat on the inside.
While your steak is cooking, add butter, rosemary, and garlic. Don’t overcook your steak because it might turn gummy and tough to eat. Once cooked, place it on a dish and set aside.
Now, we start making the sauce. On the pan where you cooked the steak, heat it again and add the special sauce and sugar. Once you rich a thick consistency, your sauce is now ready. Serve your steak with the sauce and enjoy!