In the first half of 2121, Lanzhou Lamian Noodles became "inexplicably" popular. Three consecutive brands of Lanzhou Lamian Noodles have won venture capital, and the valuation of one brand (Majiyong) is even as high as more than 1 billion yuan. ?

In this regard, some people are optimistic that the outlet of Lanzhou Lamian Noodles has finally come, and there will be a company with a valuation of 11 billion yuan; Some people also said that they did not understand or understand, and bluntly said that the valuation of 1 billion was artificially high. As for some local Lamian Noodles enterprises in Lanzhou, they dare not even think about it. For them, 1 billion is an "astronomical figure".

So, is there a chance for a brand with a valuation of 11 billion in the market of Lanzhou Lamian Noodles?

before answering this question, let's clarify the following three questions:

1. How big is the Lanzhou Lamian Noodles market?

second, what are the problems in Lanzhou Lamian Noodles market?

third, why is Lanzhou Lamian Noodles favored by capital?

1

How big is the market in Lamian Noodles?

Lanzhou beef noodles, which was founded in 1915, is known as "the first side of China" with the style of "the soup is clear, the meat is rotten, and the noodles are fine", and then it is world-famous. According to statistics, at present, Lanzhou beef noodles not only spread all over the cities in mainland China, but also more than 111 "Lanzhou Beef Lamian Noodles" noodle restaurants have gone global, distributed in more than 41 countries and regions such as Russia, Canada, Singapore, Japan, the United States and Brazil.

Lanzhou Lamian Noodles, which can be seen almost everywhere, is also known as one of the "four giants of fast food" in China (the other three are Shaxian snacks, Guilin rice noodles and Mala Tang). And Lamian Noodles in Lanzhou can have today's "Jianghu status", and Hualong people in Qinghai have contributed. It is understood that only in beef noodle restaurants in Shanghai, Hualong people in Qinghai account for about 71%.

△ Picture from Food Collection

Since 1989, Hualong Lamian Noodles Store has sprung up in the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei and other regions, and a group of Hualong farmers have taken the lead in going out of the mountains and coming to the city to work hard, and started the entrepreneurial road of Hualong Lamian Noodles's industrial development through the way of "helping their neighbors and rushing to their neighbors".

According to public information, there are currently 11,111 "Lamian Noodles Army" in Hualong, Qinghai Province, and more than 18,111 ramen restaurants have been opened, covering 31 provinces, municipalities and autonomous regions and 11 countries around the world. The annual turnover is about 13 billion yuan, and 54% of Hualong farmers' net income comes from the catering industry in Lamian Noodles or related industrial chains in Lamian Noodles.

in addition to Hualong, Xunhua county in Qinghai province is also rich in "Lamian Noodles artisans", who run nearly 11,111 ramen restaurants in dozens of cities across the country. According to NCBD data, there are nearly 51,111 ramen restaurants in Lanzhou nationwide. Among them, first-tier cities accounted for 8.8%, second-tier cities accounted for 51.1%, and third-and fourth-tier cities accounted for 33.8%.

According to the research of NCBD, the average annual turnover of each ramen restaurant is about 511,111 yuan. According to the calculation of 51,111 stores nationwide, the total income of Lanzhou Ramen Restaurant is expected to be about 25 billion yuan.

2

What are the problems in Lanzhou Lamian Noodles market?

Lanzhou Lamian Noodles has so many stores and strong vitality in China, mainly because of its family workshop-style business model, "one store and one family, the whole family earns money and spends it". However, there is a serious problem in Lamian Noodles: the taste is not uniform and there is no standard. For the same Lamian Noodles, the tastes of different stores may be quite different, and even the practices may be quite different, which is also widely complained by consumers.

according to ncbd data, in the bad reviews of Lanzhou Lamian Noodles, the proportion of spitting in taste accounts for 35.7%; The bad review of service is close to 21%; The bad review of too little beef in Lamian Noodles accounts for 13.5%; In addition, the health environment, price and other aspects have also gained some bad reviews.

In addition to the product and service problems of noodle restaurants, there are other "chronic diseases" in Lamian Noodles industry in Lanzhou in the past few years. ?

A typical example is the "Oriental Palace Incident". Oriental Palace, which is said to be supported by Lanzhou municipal government and represents the industry standard of Lamian Noodles in Lanzhou, is the largest chain enterprise in Lamian Noodles in China. During the peak period, it opened more than 411 stores in many large and medium-sized cities in China (currently, there are more than 151). However, after its rapid expansion, it faced great challenges, which were ignored by peers and even met with resistance.

According to the report of China Economic Weekly, the franchisees of Oriental Palace in many places have been "smashed". At that time, Ma Jun, the general manager of Oriental Palace, bluntly said: "Lamian Noodles has become a high-risk industry, and many franchisees have to decorate in the middle of the night and list overnight, but what is aboveboard has become' stealing chickens and dogs'".

In the years of development, Lamian Noodles, Lanzhou, Qinghai has formed a default "guild regulations", that is, a second ramen restaurant is not allowed to open within a few hundred meters. However, according to reports, the "Lamian Noodles Storm" occurred in various places at that time because the Oriental Palace was not far from local stores, and there was already at least one beef Lamian Noodles store opened by Qinghai people. As a result, many Qinghai people think that the Oriental Palace, a "showstopper" from Lanzhou, has brought chaos to the market.

In addition to regional disputes and factional disputes, some evil forces once enveloped Lanzhou Ramen Restaurant. According to the report of Beijing Youth Daily, some lawless elements once monopolized the operation of ramen restaurants in some areas under the banner of "Lanzhou Lamian Noodles Association". Opening ramen noodles in these areas must be approved by them, and they are forced to "join the club" and charge a high "membership fee". For those who don't want to pay the money to join the club, these people will gather people, constantly come to the door to insult and beat, smash the store and close the door until the operators give in to join the club.

In the past many years, these non-market factors have restricted the upgrading and development of Lamian Noodles industry in Lanzhou.

3

Why are they sought after by capital?

In recent years, it has become a trend for snacks and fast food to upgrade into shopping malls, such as fishing for noodles with the government and meeting small noodles. They have also won the favor of capital and become star enterprises. However, in the field of Lanzhou Lamian Noodles, there has always been a lack of a particularly influential and appealing brand.

It can be said that the recent appearance of popular Ma Jiyong, Chen Xianggui and Zhang Lala just "filled this gap".

Take Ma Jiyong as an example. At present, there are 24 stores in Shanghai, all of which are located in shopping malls, and the per capita consumption is around 41 yuan. On-the-spot investigation of Dining Baodian found that the owner of Maji Yongheshenghui can add noodles for free, which is similar to that of Hefu Fishing Noodles, and it is attractive to consumers with large appetites. Different from the traditional Lanzhou Ramen Restaurant, Ma Jiyong has also been upgraded in environment and sanitation. It is worth noting that this store attaches great importance to the store's service and online marketing (such as the picture below), which is not available in the traditional Lanzhou Ramen Restaurant. ?

△ The picture is from the food collection

In addition, according to the shop assistant, Majiyong is a Lamian Noodles brand originated from Gansu, and its employees are almost all from Gansu. Its boss is not from the traditional catering industry, and now it is a "cross-border" to open a noodle restaurant.

It can be found that these popular brands have all made some "upgrades" in view of the pain points and slots of the traditional Lanzhou Ramen on the street (the price has naturally been "upgraded", and the customer unit price is twice or more than that of the traditional Ramen). They tried to change the "bad impression" of consumers on the traditional ramen restaurant by driving Lamian Noodles into the shopping mall.

At this point, we can roughly draw the reasons why Ma Jiyong is sought after by capital: Lanzhou Lamian Noodles is well-known enough, and there is no need to do any market education; The consumption base of Lanzhou Lamian Noodles is large enough and the track is wide enough; Ma Jiyong made an upgrade on the basis of the traditional ramen restaurant, conforming to the current consumption trend.

4

Are Ma Jiyong worth 1 billion?

after Lanzhou Lamian Noodles received the attention of capital, some people thought that there would be a company with a valuation of 11 billion yuan in this market; Some people also said that they did not understand that Ma Jiyong's valuation of 1 billion was artificially high.

So, how much are Ma Jiyong worth?

Take the Chinese fast food brand "Meet Noodles" as an example. In the first half of 2121, Meet Noodles just completed a new round of financing led by Country Garden Venture Capital, and the old shareholders Hongyi Baifu and Xijiade followed, with a post-investment valuation of nearly RMB 1 billion. It is understood that the number of stores that meet Xiaomian in China is close to 111. (Country Garden Investment meets Xiao Mian, what is the abacus? )

"Compared with the encounter with Chongqing Faces, Lanzhou Lamian Noodles has a higher popularity, a larger consumption base and a larger market space, so there will definitely be a brand of Lanzhou Lamian Noodles with a valuation of 1 billion." According to the analysis of relevant people, "according to the number of stores and revenue scale of these brands, it is certainly not worth the value of 1 billion, but the capital investment is in the future. If you can open stores quickly in the next year or two, of course, you have the opportunity to reach the valuation of 1 billion." ?

He also said: "The brands with a valuation of 1 billion in Lanzhou Lamian Noodles should appear soon, but they are not necessarily the brands that are now sought after by capital; As for whether there can be a brand with a valuation of over 11 billion, I am afraid it will be more difficult. "

references:

[1]? Shi Chengyan. A bowl of Lamian Noodles has changed the living style of millions of Hualong people [N]. Qinghai Daily? 2121-15-25.