Family biz 101: R. Lapid owner shares early beginnings
Rey Lapid, the man behind the iconic R. Lapid’s Chicharon and Barbecue shared to ANC’s Shoptalk the business’ early beginnings, and family succession plans.
Before it came to be one of, if not the largest manufacturer of chicharon in the Philippines, R. Lapid’s began as Rey’s recourse for a better living. He told Shoptalk that he graduated Criminology, but following Martial Law in 1970s, the demand for police officers went down. Hence, he pursued entrepreneurship in hopes for a better livelihood.
Today, Rey still manages the entire business along with his family. He shared that work-life balance is still being implemented in their household, despite co-managing a huge food joint. He said on Sundays, the family tries to relax and avoid business talk.
Rey also told Shoptalk that he has no immediate plans to retire, but focuses on grooming his children to grow the business.
His eldest son, King, said that he intends to learn more about growing the family business.
“I have to focus on the strength to challenge myself as the eldest in the family. I have to widen my knowledge about running the business. Especially now that chicharon is very popular in the Philippines, we have to innovate everyday”, Rey “King” Lapid Jr. told Shoptalk.
In running the business, Rey Sr. said that he keeps on reminding himself to “always look forward, never look backward’.