Xiang-e situation: "Slow" meal brings high consumption chain expansion

Do not underestimate the roadside shabby small restaurant, perhaps one day it will grow into a public company. This sounds a bit of an Arabian tale, along with the Xiang-e situation (002306. SZ) on November 11, 2009 in the SME market and become a reality.　　The company's founder, Mengkai, started out as a small restaurant with 4 tables. Because the capital market favors the concept of chain, it makes Xiang-e sentiment and Quan Ju de (002186.　　SZ) The two Chinese food chain companies have received a lot of attention, before also in the two-level market out of very good quotes. Legendary fund manager Peter Lynch advocates finding investment opportunities in everyday life.　　Then, in the taste of Xiang-e love dishes brought delicious, but also can smell the company's high performance growth of the atmosphere? "Slow Food" high consumption of modern life fast-paced, often advocating speed, so fast food has become a lot of people to fill the belly of the choice.　　But, occasionally if want to slow down the rhythm, reward oneself, might as well eat "slow meal".　　July 19, the reporter came to Zhao Jia Bang Road in Shanghai, Hunan and Hubei Love store, entered the store found that the restaurant's decoration is quite exquisite, no wonder some netizens commented that it is "elegant eating place." Look at the two thick menu, the first few pages are abalone, sea cucumber and other Cantonese dishes, and then a few pages are Xiang-e dishes.　　Compared with other restaurants, the price of Xiang-e food is also "high", the cheapest vegetable price is also more than 30 yuan per road. The prospectus shows that the Hunan-Hubei food products on the introduction of a chain of "national food" concept, the main Hunan, Hubei cuisine, the introduction of Cantonese cuisine to upgrade the price grade, while taking into account Huaiyang cuisine, Shandong cuisine and other cuisines, and gradually introduced eight major cuisines.　　In terms of positioning, Xiang-e situation is mainly targeted at high-end business official banquets, taking into account the family consumer groups. Mengkai, chairman of the company, although the company positioning in the high-end catering industry, but the cuisine mainly Cantonese, Hunan, Hubei and other cuisines supplemented by a strong inclusive.　　The company's business social intercourse mainly to take into account family consumption, customer groups are quite rich, effectively evade the risk of a single customer group. Oyafi, an analyst with GF Securities, believes that serving high-end customers is conducive to improving the company's income level and brand image, while taking into account the low-end family consumer groups is conducive to expanding the customer, enhance the company's brand awareness, drive popularity.　　The combination of the two causes the company customer structure to form a multi-level organic whole. In fact, the company's market positioning is related to its "slow meal" products. "Fast food is facing the public, middle and high-end slow meal is the business official white-collar people above." Fast food is mainly to solve the problem of timely and fast to satisfy the guests, the environment, service requirements are very low, while the high-end slow meal to provide guests in a comfortable environment to communicate feelings of experience.　　"July 23, the company's secretary Chung in the first financial news newspaper," The financial business reporter interviewed the time said. In addition, he said, fast food raw materials and food is simple, small, easy to standardize, slow meal, especially similar to the company such as high-end compound cuisine of slow food enterprises, raw materials complex, a wide variety. In general, slow mealsMuch higher than the requirement of fast food.　　Indeed, slow meals are more demanding than fast food, and "its fine carving" features make it more profitable.　　To the company in Beijing as an example of stores, mainly located in large enterprises and government agencies to concentrate on the area, restaurant 300~500 per capita consumption, while the restaurant lobby to receive low-end consumer groups, per capita consumption of 200 yuan.　　2009 Annual report shows that the company's catering income gross profit margin of 67.37%, an increase of 3.96%. Wanrui Data Network Marketing expert (view marketing Experts blog) Kang July 20 in the first financial daily newspaper "financial quotient" reporter interview, said: "The key to the success of the catering business, there is absolutely no one or two good dishes on the line, your restaurant has not caught the user needs, user experience is not good is the key to the success of the enterprise. These experiences include dining environment, quality of service, etc. "Direct battalion-oriented chain Way is understood, as a chain catering enterprises, the company will continue to expand the future as the main theme of development."　　Strategic to "direct-chain-oriented, joined the chain as a supplement", the regional choice mainly in Beijing as the center, and gradually to the surrounding key provincial city radiation. "This year we have opened and acquired 5 stores, of which the Shanghai shop has finished the formalities and opened the shop on May 7." Tibet store two quarter after the formalities that are normal business, opened another 3 stores, including Beijing Xiang-e love channel stores, Beijing Xidan Elite Xiang-e sentiment shop and opened 19th this month, the Nanjing Xiang-e sentiment store.　　"Chung said. It is understood that, because the company is based on direct operation of the main mode, so some market participants think that such a way of expansion is too conservative.　　So why do companies not consider joining the way to achieve rapid expansion? Chung to this statement that the negative: "We take the direct battalion mainly business mode, not conservative, but the company's strategic choice for rapid development period." During this period, the open shop can achieve maximum profit. If you join the expansion at the same time, it will disperse the company's human resources and other energy, in economic efficiency is not cost-effective. It is understood that the current business development of Xiang-e situation is mainly concentrated in the Beijing area.　　Because the company's main business in Beijing, so the company's main competitors are in the Beijing area of other brands of high school characteristics chain restaurant. Growth is better than the whole poly-German reporter learned that the current a-share market in the Chinese-type chain companies are not many.　　And because the same classification in the restaurant of the subdivision industry, and the same as the base of Beijing, Xiang-e situation is always with the whole poly de together compared. The 2009 results show that Xiang-e sentiment in the net profit growth, net interest rate and other aspects than the whole poly de. It is understood that Xiang-e sentiment 2009 main income of 738 million yuan, net profit of 76.7307 million yuan, an increase of 20.27%, net interest rate of 10.4%; Total Poly Germany 2009 main business income 1.202 billion yuan, net profit 84.4051 million yuan, year-on-year increase 11.57%, net interest rate 7.02%.　　It is noteworthy that for 2010 years of business objectives, two companies are not the same, Xiang e sentiment is expected to increase the performance of about 20%, the total business income and net profit growth is expected to be 4.69% and 2.37% respectively. For chain Enterprises, the profit model can be replicated is the most important part of expansion. As a matter of fact, the reproduction pattern of all the German stores, except Beijing and Shanghai, is almost entirely lost.　　And so far, Xiang-e-culture of the direct shop has almost no loss, the new store business generally after a year can be profitable. It is understood that the company's goal is in the next 3 years to create 11 new direct shop. "This kind of restaurant each expands a shop, the investment is huge, the process is complex, if the company really can achieve 3 years to build 11 stores target, in the industry speed is quite astonishing."　　"National Gold Securities analyst Mao Rong thought. In fact, for Chinese food chains, you can't simply look at their copy mode. In the case of Xiang-e situation, one of the obvious advantages lies in the research and development of the cuisine.　　It is understood that Xiang-e sentiment every year will introduce 150 new dishes. Remote stores in the food is also basically the overall taste of the head office with the same, the menu 30% of the dishes can be tailored to local tastes to make corresponding adjustments to increase in line with local tastes of dishes to adapt to different market needs.