Financial Capital Values ​​Return Simple chain cafe model is not sought after by VC / PE (VC318)

This is a story circulated in a small circle of Pacific coffee high-level
When the top executives of China Resources Ventures first came into contact with Pacific Coffee, they once proposed an idea: Can Pacific Coffee expand faster than CR Vanguard? In 2009, China Resources Vanguard opened 380 new stores, an average of one store a day. Compared to supermarkets, is it easier to expand cafes with fewer SKUs than supermarkets?
But China Resources executives quickly realized that this was not feasible. The expansion speed of China Resources Vanguard can be achieved only after 20 years of existence, back-end logistics, and IT systems. A new chain retail brand may not be able to do it for a year, two, or even three or five years, "it needs to form a huge network."
This requires long-term holding and large-scale investment, which is in contradiction with VC / PE as a financial capital that has an investment cycle and pays more attention to returns. This may explain why the simple chain cafe model is not sought after by VC / PE. From 1999 to the present, there are only 4 cafes with VC / PE investment.
Starbucks did not introduce PE, behind the British coffee chain Costa and Pacific Coffee are strategic investments.
"Carlyle's current investment theme is around expanding domestic demand." Companies that provide products and services such as food, insurance, financial services, and travel services to the growing middle class are all concerned. Carlyle Group China Communications Director Zhou Hongqi said that the investment in Diou Coffee is related to this.
In 2007 Carlyle invested USD 21 million in Dior. However, the light of "expanding domestic demand" does not seem to have benefited the chain of cafes. Since then, except for cross-strait coffee and Ino coffee, which has received investment, there are no new financing cases. Compared with the chain restaurant investment frequently seen in newspapers, these two investment cases can be described as if they happened in another world: they occurred in 2008 and 2009 respectively.
"In the industry, the Starbucks model is called" small coffee ", and the local model is called" big coffee. " Pei Liang, secretary general of the China Chain Association, pointed out that the Starbucks-style small coffee model is not popular with capital.
Shangdao, Liangan, Diou, Zhenguo, etc. adopt a "coffee + Western casual restaurant" business model, which not only sells coffee, but also all kinds of Western and Chinese meals, and even soup noodles, vegetable porridge And other products. Compared with the small coffee model, the big coffee has more profit points.
Compared with the big coffee in the second and third tier cities, the "elite model" of small coffee is obviously less easy to control in terms of expansion speed.
The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting.

Training Chair

A training chair is a seat designed specifically for activities such as training and meetings. It has the characteristics of comfort, durability, and ease of movement, which can meet the needs of different groups of people. Training chairs can be classified into various categories based on material, structure, function, and other aspects. Below will be a brief introduction to the classification of training chairs.
1. Material classification
The materials of the training chair mainly include metal, plastic, and fabric. Metal training chairs typically have strong stability and durability, making them suitable for long-term meetings or training activities. The training chair made of plastic material has the characteristics of lightweight and easy to clean, making it easy to arrange the meeting site at any time and suitable for use in multifunctional halls and other places. The training chair made of fabric has a comfortable sitting experience and good breathability, making it suitable for long-term meetings or training activities.
2. Structural classification
The structure of training chairs mainly includes single chairs, linked chairs, and foldable chairs. Single chairs are the most common training chairs, with each seat being independent and adjustable as needed. Chainage refers to the connection of multiple seats together, usually in the form of one or more rows, suitable for use in large training venues. Stackable chairs are training chairs that can be folded and stacked, saving space and facilitating storage and handling.
3. Functional classification
The main functions of the training chair are adjustable, rotatable, foldable, and storable. The adjustable training chair can adjust the height and angle according to personal needs, providing a more comfortable sitting posture. The rotatable training chair can rotate 360 degrees, facilitating communication and interaction with people around it. The foldable training chair can be conveniently stored and transported, making it suitable for use in multifunctional halls and other places. The training chair that can store items is designed with storage space below or behind the chair, making it convenient to store items such as stationery and documents.
In summary, the classification of training chairs mainly includes material classification, structural classification, functional classification, etc. Choosing a suitable training chair can provide a better user experience and improve the effectiveness of training and meetings.


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