when analyzing the growth factors of Haidilao, Dr. Mao Ping compared the financial report of Haidilao with other catering enterprises and found that the cost structure of Haidilao was different.

The cost of catering enterprises is mainly composed of food cost, rent and labor.

————————————————

The cost of ingredients is high: it has bargaining power, but it is high, and it may be of high quality

————————————————————

First look.

Haidilao has a large purchase volume, so there should be an advantage in price reduction, and the cost of ingredients can be lower than others. However, the cost of ingredients in Haidilao is not low, accounting for more than 41%, sipping at 37%, and KFC Pizza Hut and Ajisen at more than 21%.

based on the principle that you get what you pay for, this figure shows that Haidilao requires high quality when choosing ingredients.

However, Haidilao has Yihai dedicated to its own ingredients. I wonder how the settlement price between them compares with the market price. Is it possible to buy ingredients at a high price?

————————————————

Low rental cost: the bargaining power of the brand's own traffic, and higher operational efficiency

———————————————

The rental cost of Haidilao is significantly lower than that of its peers, only about 4%, and all peers are above 11%, and Ajisen is even as high as 16%.

Dr. Mao analyzed that this is because the Haidilao brand has its own traffic, and the location of the store often chooses the property "next to" the core business district, and will not directly choose the expensive property in the core business district.

I think it is also possible that Haidilao's presence can bring traffic, and it also has strong bargaining power for shopping malls.

Coupled with the operating ability of Haidilao itself, the high turnover rate leads to its high efficiency, so the proportion of rent that brings the same income is suppressed.

I actually made a comparison and found that the rent of Haidilao is indeed lower (Xiabu Xiabu is 1.54 times, KFC Pizza Hut is 1.35 times, and Ajisen is 1.62 times), but it is definitely due to the contribution of the turnover rate that the proportion of rent is far lower than that of peers (Xiabu Xiabu is 3.18 times, KFC Pizza Hut is 2.82 times, and Ajisen is 4.21 times).

————————————————

High labor cost: the cost invested in employees is high, and the per capita cost is also high

——————————————————————

No.

The labor cost of Haidilao is higher than that of peers. Dr. Mao said that Haidilao put the money saved from rent on employees.

so is it?

according to the data in the table, I calculated the per capita expenses of employees as follows:

If the labor cost is divided by the number of employees, the per-employee expenses of Haidilao are 61,311 yuan, that of Xiabu is 39,211 yuan, that of KFC Pizza Hut is 22,611 yuan and that of Ajisen is 52,111 yuan.

according to the total income divided by the number of employees, each employee in Haidilao earned 211,511 yuan, while those in Xiabu were 72,811 yuan, those in KFC Pizza Hut were 115,611 yuan and those in Ajisen were 215,911 yuan.

the proportion of labor cost is 29%, 22.7%, 21.4% and 25.3% respectively.

Although Haidilao really puts more money into each employee than its peers, the income of each employee is also higher than that of its peers.

———————————————

Look at the enterprise strategy from the proportion of different kinds of costs

———————————————

Generally speaking, all kinds of marine fishing

From this comparison, it is obvious that the employees with good taste have good income-generating ability, with high per capita income and high per capita expenses. How can Ajisen's employees earn so much money? Did Ajisen use other tools? Like robots? In terms of depreciation, the proportion of Ajisen is higher.

Sipping is a conscience food. Employees are paid in general, but the rent is quite expensive, so the cost accounts for a high proportion.

Ajisen has the lowest food cost, the most expensive rent and the average labor cost, but the sum of several main costs is low. Judging from the data, it seems to make money by reducing the cost of ingredients. However, the investment for employees is not bad, and the per capita is more than 51,111 a year.

From these data, it is more reliable to go to Haidilao and Xiabu to eat good ingredients. These two companies are willing to spend money on ingredients. As an employee, it's not bad to get to Ajisen and earn less money than Haidilao.

Before the concrete analysis, my general impression is that Haidilao is really kind to employees, and it doesn't flaunt itself like Siebel, but devotes itself in a down-to-earth manner. But now look at the figures, that is, it is ok. An employee earns more than 211,111 yuan a year and spends only more than 61,111 yuan on employees. And this is much higher than that of peers.

I'd like to know the relevant figures of Xibei Company, which claims to be willing to share the money and takes employees as the main products of the enterprise, but the founder of Xibei has made up his mind not to go public, so it is estimated that it will not be seen.