三井 ( Mitsui) - Current Restaurant Industry of Cross-strait

Part I Current Restaurant Industry of Cross-strait

VI) 三井 ( Mitsui)

chef named 黃奕瑞 in 1992. His insistence for freshness goes on the traditional way as Japanese sushi chef would get up early in the morning at 6am to the fish market to pick up the freshest procurements. He is a well-trained sushi chef that demands perfection at its greatest, so going to the fish market allows him to hand pick the best quality product. Mitsui takes sanitation seriously because it is something that cannot be seen which makes it valuable. Because sanitation can offer the freshest sushi, and this is what helped builds the foundation of the company. It is also setting a firm commitment to the customers that ‘you will get absolutely nothing but the best we can get for you.’ To maintain and preserve its absolute freshness of food ingredients; the founder

improves their weekly turnover rate. In order to provide the freshest ingredients; he invented a

‘modifying menu’ in his business model which is unlike other conventional Japanese cuisine restaurants; it does not have a fixed menu. It solely relies on whatever ingredients available at the time being to prepare the dishes to customers. The end result will give customers huge surprises every day as they do not know what the menu will offer today or tomorrow! Mitsui imports seafood from all over the world to get the highest quality but in return selling to their beloved customers at a very reasonable price. It is like treasure hunting when eating at Mitsui, a customer would describe (張志誠，2007). The company currently owns seven brands: Mitsui (三井), Mitsui Cuisine (三井料理美術館), Mitsui Japanese Cuisine, Mitsui Cuisine (明水三井), Kyoku Sushi (極壽司), Mitsui Style (三井選品), and 三井 Cuisine M. Each brand has its own ranking

quality, so customers will have several options to choose from when they consider dining at one of the Mitsui restaurants (Mitsui Taipei.com.tw, 2013).

Profitability wise, it is not a listed company that goes public, so there are no financial statements made available for public to access. However, it is reported to have annually earned

$2 billion NT (TVBS 新聞，2014).

VII. Haidilao (海底撈) company is one of the most successful quick service hot pot restaurant chains originated from Sichuan province, China which started out as a small shop selling "hot and spicy soup"(麻辣烫) and later it developed and expanded its menu range that gains positive reviews from customers and other restaurant counterparts. It was founded in 1994 by a businessman and CEO, Zhang Yong (張勇) who came from a small village in Sichuan. Over the past 16 years, it has owned more than 80 direct marketing stores in Beijing, Tianjin,

Shanghai, Nanjing and many other major cities. The first US outlet was opened in Los Angeles onSeptember 2013 (Haidilao.com, 2012).

Service wise, Haidilao provides a very unique experience to patrons that largely contribute to its success. For instance, at the waiting lounge, customers can enjoy fruits and drinks, go online, and get their shoes shined or nails painted, all for free. They can even play poker or checkers. When customers get their table, Haidilao servers provide them with service beyond their expectations, such as using plastic bags to cover cell-phones to protect from food and grease, they even provide cleaning cloth for glasses! These are just one of the examples of thoughtfulness and considerations which makes Haidilao’s dining services superior than any other counterpart in the dining industry (Zhao, 2011).

Profitability wise, Haidilao is not a listed company that offers public stock options. So there is no disclose for detailed report. However, 時代周報 (2014) revealed that the company had

an impressive revenue in 2012, it annually earned $312.7 million RMB. The net profit also went up to $400 million RMB that year (時代周報，2014).

Part II introduces the current restaurant industry in North America and several of its most

successful franchises except for Schwartz’s, whose restaurant remains as a single location despite of its ultra-success that generated a cult following. Three brands are originated from Canada, and four brands are originated from the U.S.

The current dominating franchises in North America are Red Lobster (USA), Tim

Hortons (Canada), Sushi Shop (Canada), T.G.I. Fridays (USA), Outback Steakhouse (USA), and McDonald’s (USA). The current famous landmark standalone restaurant in Montreal, Canada is Schwartz’s. These restaurant chains in North America are immensely popular, particularly Tim Hortons and McDonald’s. These two biggest franchises own over 7,000 locations combined worldwide. Tim Hortons is as big as Starbucks in the Canadian quick service restaurant segment.

It holds 62% of the Canadian coffee market, and whereas Starbucks holds 7%. Although Tim Hortons is virtually unknown in Cross-strait including Taiwan and China, but it is indeed very successful in Canada. Red Lobster is another well-known franchise that has not introduce to the market in Cross-strait. It is very well-received in Japan as the number 1 seafood restaurant, it currently has 23 locations there. Both T.G.I. Fridays and Outback Steakhouse have restaurant chains in Taiwan. T.G.I. Fridays currently has 15 locations, and Outback Steakhouse has 5 locations. Although it may not be as popular as T.G.I. Fridays in Taiwan, but it is extremely popular in South Korea. It currently has 101 locations there! The main reason for its success, is the business model which will be further explained later at the Applying Theory X and Theory Y

with restaurants in the U.S section. Finally, Sushi shop is the first Japanese cuisine restaurant

chain that turns into a franchise from Canada, it is founded by MTY Food Groups, which is a huge food and beverage organization in Canada that owns 26 brand names. Lastly, Schwartz’s is

a famous landmark site from Montreal, Quebec in Canada that is not a restaurant chain but it certainly has the capital and potential to do so. It is worth CDN$10 million for that restaurant.

Table 2-2

Restaurant Chains and Franchises in North America

Source: Red Lobster (2015). Red Lobster. US: www.redlobster.com (continue onto next page) Tim Hortons (2015). Tim Hortons. CA: www.timhortons.com/ca

Names Restaurant Types Characteristics

Red Lobster (USA)

Red Lobster logo is the trademark property of Golden Gate Capital sold to Golden Gate Capital for US$2.1 billion (Jul 28, 2014)

Average price: US$30- US$60 (set meal) (NT$908-NT$1,817) or

(CDN$32-CDN$65)

Annually earned US$2.62 billion worldwide

Average Annual per sales: $3.7 million in 2013

Tim Hortons (Canada)

Tim Hortons logo is the trademark property of Restaurant Brands cookies, sandwiches, soups, tea and juices Currently owns 4,288 locations in N.A and the middle-east

3,453 restaurants in Canada, 808 in USA, and 27 in the Persian Gulf region

Annually earned $3.3 billion and grew total revenue of 4.3%

Average price: CDN$5- CDN$15 or more (NT$138-NT$414)

Table 2-2

Restaurant Chains and Franchises in North America (continued)

Source: Sushi shop (2015). Sushi Shop. MTL: www.sushishop.com/en (continue onto next page)

T.G.I. Fridays (2015). T.G.I. Fridays. US: www.tgifridays.com

Names Restaurant Types Characteristics

Sushi Shop (Canada)

Sushi Shop logo is the trademark property of MTY Food Group innovative sushi (Asian and Western mix) Currently owns 130 locations in Canada (Quebec and Ontario province)

Chains owned by MTY Food Group: has 26 brands

Average price: CDN$20 to CDN$40 (NT$540-NT$1080)

Annually earned CDN$101.36 million revenue in 2013 by MTY Food Groups T.G.I. Fridays (USA)

TGI Fridays logo is the trademark property of Sentinel Capital Partners and

TriArtisan Capital Partners

Beverages: alcohol. Juice, and soft drinks Currently owns 992 locations in the U.S Currently has 920+ restaurants in 61 countries: in Africa, Americas, Asia, Europe, and Oceania continents (USA not included)

Average price: US$20-US$40 per person (NT$634-NT1,2688)per person

Annually earned US$2.7 billion

Table 2-2

Restaurant Chains and Franchises in North America (continued)

Source: Outback Steakhouse (2015). Outback. US: www.outback.com Schwartz’s (2015). Schwartz’s. MTL: www.schwartzsdell.com/ca/en

McDonald’s (2015). McDonald’s. US: www.mcdonald’s.com

Names Restaurant Types Characteristics

Outback Steakhouse

Specializes in steaks and seafood platters Currently owns over 1,200 locations in 23 countries: North and South America, Europe, Asia, and Australia

Landmark restaurant: 80 years old Average price: CDN$12.64 -CDN$13.09

Specializes in burgers, fries, chicken and etc..

Currently owns 3,500 worldwide locations in 119 countries

Average price: US$5.99 to USN$7.99 a combo

(NT$190-NT$253) a combo meal (combos) burger, fries, and drink Financially earned US$28.1 billion in 2013

I. Red Lobster is an American casual seafood restaurant chain that specializes in seafood, chicken, steaks and pasta. The company currently has branches established overseas in Canada, Saudi Arabia, the United Arab Emirates, Qatar, and Japan, in addition to the United States. As of 2013, it is reported that there are 705 Red Lobster locations worldwide. On December 19, 2013, the parent company which is located in San Francisco, California, Darden Restaurants planned to sell or spinoff due to pressure from shareholders and investors. On May 16, 2014, Darden Restaurants officially sold Red Lobster to Golden Gate Capital for $2.1 billion US dollars. Darden Restaurants, Inc. currently owns Olive Garden, Longhorn Steakhouse, Bahama Breeze, Seasons 52, Eddie V’s Prime Seafood, the Capital Grille, and Yard House (Edgar Online, 2013; Red Lobster.com, 2015).

The company was originally founded in March 1968 by entrepreneurs Bill Darden and Charley Woodsby. The concept was created for seafood lovers whose first restaurant established in Lakeland, Florida and in 1970, General Mills acquired Red Lobster as a five-unit company.

With the new backup system, the chain quickly expanded its operation in the 1980s (Red Lobster.com, 2015).

During the 1980s, Red Lobster entered the Canadian markets by purchasing Ponderosa locations. The company generally maintains 25 to 30 locations in Canada, the bulk in larger urban centers in Ontario with smaller number in larger centers in all three Prairie Provinces. In September 1997, due to financial loss, Darden Restaurants had no choice but to terminate all branches in the Quebec market and never attempted to enter the market in British Columbia due to corporate decision. According to the Darden annual 2013 report, Red Lobster earned $8,551.9 million US dollar domestically (Edgar Online, 2013; Red Lobster.com, 2015).

According to its financial statements of 2013 fiscal year, Red Lobster had generated

$2.62 billion in sales over 705 units worldwide. However it dropped 1.7% below in 2012, driven

primarily by a U.S. same restaurant sales decrease of 2.2% partially offset by revenue from one net new restaurant. The decrease in the U.S. same restaurant sales resulted from a 1.8% decrease in the same restaurant guest counts combined with a 0.4% decrease in average guest check.

Average annual sales per restaurant for Red Lobster were $3.7 million in fiscal 2013 compared to

$3.8 million in fiscal 2012 (Edgar Online, 2013).

II. Tim Hortons is a Canadian multinational quick service restaurant chain that specializes in coffee, baked goods and sandwiches. It currently has 3,453 branches in Canada, 808 branches in the United State, and 27 in the Persian Gulf region. It was founded in 1964 by two Canadian hockey players named Tim Horton and Jim Charade for their initial venture in hamburger restaurants. Then followed by 1967, Horton partnered with investor Ron Joyce and decided to discard the hamburger business and went with coffee and baked goods venture. When Horton died in 1974, Joyce assumed control over operations by expanding the chain into

multimillion dollar franchise. The success of Tim Hortons franchises eventually overtook

McDonald’s as Canada’s largest food service operator (Tim Hortons.com, 2015). As of today, the company opened twice as many Canadian outlets as McDonald’s and the business quickly

surpass those of McDonald’s restaurant operations in Canada of 2002. In 2005, the chain accounted for 22.6% of all fast food industry revenues in Canada. Tim Hortons now commands 76% of the Canadian market for baked goods and holds 62% of the Canadian coffee market whereas Starbucks positioned number 2 holds 7% (Tim Hortons Inc. Annual Report, 2013).

On 26 August 2014, Burger King agreed to purchase Tim Hortons for US$11.4 billion;

the combined company, which will be majority-owned by Brazilian investment firm 3G

Capital and remain based in Oakville, will be the third-largest operator of fast food restaurants in the world (Patton & Giammona, 2014).

According to its financial statements of 2013, the restaurant chain business generated 3.3 billion and grew 4.3% total revenue. System-wide sales grew 4.7% for the new restaurant

development, and by same-store sales growth of 1.1% in Canada and 1.8% in the U.S. Operating income of $621 million was up 4.5%, consistent with top-line growth. Earnings per share

increased 8.9% to $2.82, compared to their targeted range of $2.87 to $2.97 (Tim Hortons Financial Report, 2013). This is good news to all stock owners.

III. Sushi Shop is currently the only quick service sushi restaurant chain that evolved into a franchise that owns over 130 locations in Quebec and Ontario. It does not plan to stretch its franchise operation across foreign soil. It is strictly a franchise that only runs in Canada. The restaurant branches are referred to as boutiques because they specialize in making gem like sushi that is both aesthetic and delicious. The franchise was founded in 2000 by chairman and CFO named Stanley Ma. He founded the restaurant because he saw an opportunity and hope to become the first to turn the business into a franchise. There is no information about the founder disclosed online. Sushi Shop is what the founder described as a creative, responsible and progressive company made up of people who love life and especially have deep passion in sushi. The team is dedicated to sharing the company’s passion of sushi to the customers and show them to

appreciate the art of sushi and how important it is to be part of the healthy lifestyle and diet (Sushi Shop.com, 2015).

The franchise is owned by MTY Food Group, founded in 1985. It currently owns 26 brand names: Thaï Express, Country Style, Groupe Valentine, Vanelli's, Extreme Pita, Cultures, La Cremiere, Sushi Shop, Veggirama, Caferama, O'burger, Tiki Ming,Vie and Nam, Au Vieux Duluth Express, Frankx Supreme, ChicknChick, Croissant Plus, Koya Japan, Kim Chi, Panini, Tandori, Tutti Frutti, Villa Madina Mediterranean Cuisine, Sukiyaki, and the Canadian branches

of Yogen Früz, Taco Time, and TCBY with over 2200 units in Canada (MTY Group.com, 2013).

Profitability wise, MTY Food Group has generated $101.36 million revenue in 2013 (MTY Food Group Inc, 2014).

IV. T.G.I. Fridays is an American casual dining restaurant and bar chain that specializes in hamburgers, BBQs, and steaks. For drinks at the bar, it serves alcohol and cocktails. It was established in 1965 by Alan Stillman in New York. As of today, the success of the chain restaurant business owns 992 locations in the US and over 920 restaurants in 61 countries including several major continents: Africa, Americas, Asia, Europe, and Oceania (TGI Fridays.com, 2015).

The restaurant chains’ main target audience is professional and white collar occupants, they seek for better services and premium food selections. In addition to the premium label it carries, the brand offers a fun atmosphere where people can go without knowing, but hoping to meet the other guests. In many ways it performs the community meeting point which Adelman et

al., (1994) suggest will become an increasing feature of services in cities where many people live

an individualized existence. T.G.I. Friday’s provides a service which “creates a sense of social connection to others” (Adelman et al., 1994, p. 140).

According to the financial statement of 2013, the restaurant chain currently has more than 900 restaurants in operation worldwide in 60 countries, and reported system-wide sales of $2.7 billion. T.G.I. Fridays currently employ over 70,000 people around the world (Carlson, 2014).

V. Outback Steakhouse is an Australian-themed American casual dining restaurant chain based in Tampa, Florida with over 1200 locations in 23 countries throughout North and South America, Europe, Asia, and Australia. It was founded in February 1988 in Tampa by Bob Basham, Chris T. Sullivan, Trudy Cooper and Tim Gannon, and is now owned and operated in

the United States by OSI Restaurant Partners, and by other franchise and venture agreements internationally. Besides serving quality steaks, the menu also serves seafood, desserts and soft drinks. The target audience is mostly white collars and occasional families will come as well (Outback.com, 2015).

Profitability wise, Outback Steakhouse has generated $2.45 billion US for its system- wide sales that boasts 767 locations in the U.S. Sales per unit is estimated around $3.19 million US (Nation’s Restaurant News, 2014).

VI. McDonald's Corporation is the world's largest American family chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries across 35,000 outlets. Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by the original founders Richard and Maurice McDonald; in 1948 they reorganized their business as a hamburger stand using production line principles. Businessman Ray Kroc joined the company as a franchise agent in 1955. He subsequently purchased the chain from the McDonald brothers and oversaw its worldwide growth. A McDonald's restaurant is operated by either a franchisee, an affiliate, or the corporation itself. McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants (mcdonalds.com, 2010). The current CEO and President is Don Thompson serving from 1990 to the present.

The history begins with the founding to the opening of a franchised restaurant by Czech American businessman Ray Kroc, in Des Plaines, Illinois, on April 15, 1955, the ninth

McDonald's restaurant overall. Kroc later purchased the McDonald brothers (Richard and Maurice)' equity in the company, an attempt to overtake the business which led its worldwide expansion, and the company became listed on the public stock markets in 1965. Kroc was also noted for aggressive business practices, compelling the McDonald brothers to leave the fast food

industry. The McDonald brothers and Kroc feuded over control of the business, as documented in both Kroc's autobiography and in the McDonald brothers' autobiography. With the expansion of McDonald's into many international markets, the company became a symbol of

globalization and the spread of the American way of life. Its prominence has also made it a frequent topic of public debates about obesity, corporate ethics and consumer responsibility (Harris, 2009).

According to its financial statement of 2013, McDonald's Corporation had annual revenues of $28.1 billion, and profits of $5.6 billion. During the same year, the global sales increased 0.2%, and system-wide sales were up 3% and diluted earnings per share 4%. The company invested approximately $2.8 billion in new and existing restaurants. During the same year, the company returned $4.9 billion to shareholders through dividends and share repurchases (McDonald’s 2013 annual report, 2014).

VII. Schwartz’s is a Montreal founded delicatessen restaurant established in 1928 by Reuben Schwartz, a Jewish immigrant from Romania. The restaurant site is considered a historical landmark which has no franchise establishment but only a single location situated at 3895 Saint-Laurent Boulevard. It specializes in making old fashion smoke meat sandwiches, a stack of thin slice cut smoke meat served between two slice of thin toasts smeared in mustard.

There is no vegetable served as toppings for the sandwich (Schwartz’s Deli.com, 2015). Schwartz has always disliked the idea of expanding the operation into franchises, in fact several

restaurateurs have offered to build Schwartz’s franchise operations in cities across North America but rejected by the owner. The reason is due to quality control may be hard to maintain and he enjoys the attention of customers from different parts of Canada or around the world coming to queue up in front of his restaurant (Schwartz’s Dell.com, 2015).

In Taiwan, there is a restaurant chain called Din Tai Fung which specializes in making xiaolongbao and in Montreal, Quebec, there is a small restaurant called Schwartz’s which

specializes in making smoke meat sandwiches. Both restaurants from different parts of the world have their own diehard fans whom are willing to spend their time and money to travel thousand miles away from home to the restaurant in the quest of pilgrimage. Both restaurants are legendary in their own rights. The restaurant is over 80 years old and its business ethics sticks with

traditional methods of preparing smoke meat the old fashion way using a secret blend of fine herbs and spices marinated for ten days. The smoked meat is smoked daily and contains no preservatives but the award winning taste and freshness that adored by celebrities from all around the world coming to Schwartz’s (Schwartz’s Dell.com, 2015).

On March 5, 2012, Celine Dion, the songstress and her husband and manager Rene Angelil, and restaurateur, Paul Nakis reportedly purchased Schwartz’s for CDN$10 million (NT$270 million). The new owners would have the rights to franchising but remain no intention

在文檔中 X理論和Y理論在餐廳領導的應用 (頁 37-0)