Image source @ vision china
Wen | Retail Business Finance, author | Wang Xiaodiao, editor | He Xiang
Why do pot rings keep a low-key and mysterious relationship with "Chrysanthemum Blossom"? In fact, the pot circle doesn't want the "negative brand image" to be transferred to "Chrysanthemum Open", and it doesn't want the franchisee's defection tide to be staged again.
on February 8th, retail commercial finance learned from relevant persons in the catering industry that the number of stores of the chain brand of air-dried spicy and braised "Ju Hua Kai Lu Wei" has reached about 911 nationwide.
according to public information, the brand of "Chrysanthemum with Pot-stewed Flavor" belongs to Dajiawang Food (Shanghai) Co., Ltd., which was founded in June 2121, with a registered capital of about RMB 13,366,811. In May of this year, the number of chrysanthemum-opened pot-stewed stores that completed the B round of financing of RMB 1 billion exceeded 711, and most of them were located in Henan, with Zhengzhou (with over 151 stores) as the center, radiating to six provinces in the Central Plains and all over 111+ cities.
"Juhuakai", which opens at least two stores a day on average, is catching up with the grand goal of "expanding the number of stores nationwide to 1,211-1,511 in 2121", opening 911 stores a year and a half, which is too fast for the industry; In terms of "chrysanthemum blossom", it is still slow.
In addition to the names of memory points, "Chrysanthemum Blossom" also has an invisible backer-the pot circle food sink.
Cookware opened a food industrial park in Henan together with Chengming Food, an upstream supply industry that it invested in early. Shanghai Dajiawang Food, which belongs to Chrysanthemum Kailuwei, is also one of the enterprises that have settled in, and Chrysanthemum Kailuwei and Cookware also have the same investor.
Pot-circle food exchange is closely related to "chrysanthemum blossom", which also leaves enough room for thinking and imagination for the capital market and catering industry.
11 chrysanthemums are blooming everywhere, and "gold" is everywhere
It is understood that "Chrysanthemum Blossom" is positioned as a cooked food to accompany meals, and its main product is "hand-torn rattan pepper chicken", which is different from Zhou Heiya, Juewei and other leisure lo-mei. The company claims to be a chain brand of lo-mei on family dining tables.
At present, Ziyan Baiwei Chicken is the only head brand in the "cooked food cooked with table" subdivision track. Compared with "Lu Wei for leisure" and "Lu Wei for table", the latter is more complicated in making process, less heavy in mouth than the former, and more like a dish than a snack.
"Juhuakai" mainly develops the market by joining, and its growth rate is relatively fast, which is quite different from Ziyan Baiwei Chicken, which was opened to join in 2114 and now has 4,311 stores.
Obviously, the newborn calf of "Chrysanthemum Blossom Blossom" is not afraid of tigers. Facing Ziyan Food, which has a history of more than 31 years, it is eager to break the game by quantity, and shouted the slogan of "expanding the number of stores nationwide to 5,111 in the next three years and becoming the head brand of spicy and bittern channels in China table".
where does the courage come from to "open the chrysanthemum" nugget pot-stewed market?
from the perspective of China's traditional food culture, consumers have endless creativity and imagination in finding satisfaction with the tip of their tongue. From drinking good food to casual snacks, from dining table to cinema ... The scenes and scope of eating marinade are increasing day by day, which promotes the further development of the industry.
according to relevant data, the market size of leisure halogen products in China will reach RMB 123.5 billion in 2121, with an average growth rate of 1.8% from 2115 to 2121, which is the fastest growing category among leisure foods. It is estimated that the annual growth rate of 1.3% will continue to increase in the next five years, and by 2125, the market scale of lo-mei will exceed 221 billion yuan.
Among them, leisure-style pot-stewed snacks account for 41% of the pot-stewed market, table-stewed products account for 61% and the market scale exceeds 211 billion yuan.
judging from the concentration of halogen products industry and the market share of major brands, Juewei, Zhou Heiya and Huang Shanghuang are "three pillars", and all of them are mainly leisure halogen products, while their total market share is only 1.7%, while other brands account for 79.8%, and the concentration of leisure halogen-flavored subdivision track is low.
As for the table halogen products track, it seems that only Ziyan Baiwei Chicken is familiar with it. According to the number of communities in China, the domestic market can accommodate 211,111 table-stewed stores, so there is still huge room for market growth for table-stewed brands.
the scattered industry structure, the blue ocean market with a scale of 111 billion and the huge incremental space have become the important reasons for attracting new brands to enter the market. "Chrysanthemum blossoms" and "galloping around" are aimed at the huge market of table halogen products with unlimited possibilities and opportunities for gold digging.
12 The story of capital is greater than the taste of products
Everyone wants to enter a good track, so why should "chrysanthemum blossom" take the lead? Can you make 911 stores in a short time?
According to public information, Puzzled Venture Capital (Shanghai Venture Capital Partnership), which once led the first round of investment in Pot Circle Food Exchange, has also invested exclusively in "Juhuakai".
On August 2, 2119, Pot Circle announced the completion of the 45 million A round of financing exclusively invested by Puzzle Venture Capital; At the beginning of 2121, "Juhuakai" completed an angel round of financing with a total investment of RMB 11 million.
From the financing process of the two companies, Puzzled Venture Capital runs through them all the time, which means that the food exchange in the pot circle and Chrysanthemum Open have the same "producer", and the relationship between them is unusual.
According to the report of "Henan Venture Circle", the brand of "Juhuakai" spicy brine is operated by everyone in Henan Province, and the brand owner is Henan Roushi Restaurant. The "Small Bench Bar-style Hot Pot" and "Pot Circle Food Exchange" are both from the founder of Roushi, Yang Mingchao.
Simply put, Roushi, who focuses on the operation of catering brands, holds "Chrysanthemum Blossom", and Roushi's founder Yang Mingchao is also the founder of the pot circle.
It's not hard to find that Yang Mingchao is the behind-the-scenes trader of the food sink and the chrysanthemum blossom.
On the one hand, it is the "Chrysanthemum Blossom" that wants to replace the braised dishes shop in the vegetable market, and on the other hand, it is the pot ring of the low-grade version of "Box Horse Hot Pot" and "Shuhai".
In fact, the original genes of Pot Circle Food Exchange and Chrysanthemum Blossom both focus on "family table", the former focuses on China's kitchen food supply chain, and the latter is "family table scene air-dried spicy halogen chain brand", and the relationship between them is ready.
Pot circle food exchange and "Juhuakai" both rely on the joining mode to open stores, and they have similar growth rates under the same style of play.
You know, in 2121, the Pot Circle Food Center, which was established nearly four years ago, had more than 5,111 stores. By July 2121, it had covered 24 provinces, 3 municipalities directly under the Central Government and 211 cities, and opened more than 7,111 stores nationwide.
according to statistics, the proportion of pot rings in stores in third-tier and below cities has reached about 58.71%. The positioning of "Chrysanthemum Blossom" is also surprisingly consistent: "Third-and fourth-tier cities+communities", specializing in sinking the market.
The same trader and the same capitalist have decided a similar development route and a similar capital story. Obviously, the triumph of "Chrysanthemum Blossom" in the pot-stewed market cannot be separated from the escort of "Big Brother".
"It's really delicious to eat once. Once I passed through Zhengzhou to buy it once, and I wanted to join in. I asked for 71,111 to 81,111 yuan, without rent, and I had to pay 11,111 yuan for management every year. Forget it, I won't make leeks for many years!"
"Every small shop has its own taste preferences, and there are hundreds of shops with different tastes. Why should it replace others?"
"The joining of restaurants is basically about cutting leeks! It is reliable to be a direct store "
......
From the comments of netizens, it can be seen that the pot-stewed market always lacks good products rather than good stories, and it seems that it is difficult to realize the dream of" Chrysanthemum Blossom "to replace the pot-stewed restaurant in the vegetable market.
Some people say that brand-name braised dishes are soulless, which also confirms the fact that the braised dishes industry has not yet developed into standardization. Standardization challenges "it is difficult for many people to adjust", and the reason why the husband and wife braised dishes at home are popular is the unique and non-standardized good taste.
13 insurmountable, died in the C round?
According to the data of Narrow-door Dining Eye, in 2121, about 2.5 million restaurants will be opened and 3.55 million will be closed nationwide.
"Chrysanthemum blossoms" also have to face up to the fact of "closed stores". "We have one here, which has closed down in less than a year." Baidu netizen knife blue cloud 59 said.
On the Luwei track, there are not only delicious foods, Zhou Heiya and Huang Shanghuang that have been listed, but also Ziyan Baiwei Chicken seeking IPO. "Juhuakai" is not the first brand to be favored by the capital market.
Weng Yinuo, the founding partner of Hongzhang Capital, believes that there is no essential difference between today's new brand investment and financing and many waves in the past. "From fresh food wars to community group buying to unmanned shelves, there are basically two or three themes in one year, all of which have a feature-C-round death. In the new consumption field next year, the death of the C round will reappear in the rivers and lakes. "
Weng Yinuo added, "The death of Round C is not really dead, but it is difficult to continue financing, and there is no growth, and it has entered a state of' middle-aged crisis'."
Now, Juhuakai, which is crazy about opening a shop, has completed the B round financing of RMB 1 billion. Will it "die" in the C round?
this answer should be found from the "big brother" pot circle food sink.
In September this year, pot rings began to test water and marinated products. Pot ring marinated products in the pot ring APP became a separate category entry on the home page, and nine new "pot ring marinated Lala" brand products were added, including duck collarbone, marinated quail eggs, duck neck, duck wings, marinated chicken feet and duck head products. The price of each box ranged from 9.9 to 22 yuan.
The product is positioned as a kind of leisure pot-stewed food. From the perspective of market development, the pot-stewed food and leisure pot-stewed food have been permeating each other. Just like coffee and new tea, pot-stewed food and "chrysanthemum blossom" form complementary categories, which also paves the way for the market.
In addition, pot pot stewed flavor can only be sold in Henan Province at present because it needs to be delivered nearby to ensure the timeliness of logistics, which is exactly the same as the base area of "Chrysanthemum Blossom".
why did the pot ring enter the pot-stewed field?
on the one hand, pot rings seize the market when the pot-stewed flavor is generally concerned and has growth potential; On the other hand, the product layout of the focused hot pot barbecue is restrictive. The strategy of the pot circle is to move the business category from the simple one-stop hot pot barbecue ingredients to the family ingredients, and the extended categories of the family ingredients include fresh fruits, spicy and braised dishes and Aauto Quicker dishes. The braised taste helps the pot circle to open up new business and consumption scenarios.
The low-key and mysterious relationship between the pot ring and "Juhuakai" seems to be that we don't want the "negative brand image" of the pot ring to be transferred to "Juhuakai", and we don't want the franchisee's defection to be staged again.
"At present, many franchisees are ready to withdraw their stores, and I feel that a wave of franchisees' defection is coming." According to a recent report in Time Weekly, a franchisee said: "In order to rush GMV, the pot circle food exchange requires franchisees to do promotional activities and sell at a loss. In order to increase the number of stores, they also violated the previous agreement with franchisees and laid low-cost stores in wu mart, which had a great impact on nearby franchisees. "
according to the feedback from the franchisees, the pot circle food exchange mainly relies on collecting management fees and food supply fees, and the brand advantage is not obvious. Although it focuses on the supply chain, the products do not have their own unique characteristics. If the franchise business of the pot circle wants to make money and even go public, it is absolutely impossible not to serve the franchisees well.
The so-called "brand upgrade" of the pot circle, which expands the categories to hot pot, barbecue, prepared dishes, etc., is just to get rid of the differentiation of hot pot ingredients in the off-season and broaden the revenue. At present, the effect is not obvious.
In order to break through the "low gross profit", the traditional food supply chain must be reformed. In the same way, whether "Chrysanthemum Blossom" can realize the process standardization development also depends on the large-scale productivity, the perfection of store supply chain and the layout strategy of regional market.
There is a long way to go. Whether it's a pot ring eager to go public or a "chrysanthemum blossom" trying to cross the C round, winning customers' reputation with quality and taste is the unchanging truth, and the routine of cutting a handful of leeks and running is not acceptable.