Crisis and opportunity: two hands hold two hands hard

In 2016, I joined the catering industry and successfully established two brands, toned hot dry noodles and bowl hot dry noodles. There are currently 50 stores nationwide. In short, I am a hot noodle seller. In fact, for three years of entrepreneurship, I can no longer say that I am a little white, that would be too stupid and stupid, be a novice. The biggest insight in these three years is that the catering industry has a low threshold and is easy to enter, but the water is deep and most of it is drowned. In 2019, a media reported that the restaurant’s failure rate was above 80%, and everyone should have a deep understanding. Let ’s share your experiences and reflections. Please take a picture and make progress together.

Opportunity in crisis
The epidemic struck and everyone caught off guard. The catering industry was the first to be hit. It was one of the hardest hit areas. According to media reports, nearly 500 billion yuan in catering revenue was lost during the Spring Festival alone. From the supply chain to the operating company to the terminal store, the catering industry is almost completely shut down from top to bottom.

For catering companies:

1. Income returns to 0, expenditures remain (staff, rent, etc.), and cash flow is tight.

2. The store opening plan is disrupted. The original March-April period was the peak period of store opening, and this year may not be high.

3. Staff confidence is generally severely hit, anxiety, anxiety, anxiety …

4. Several predictions for the future: optimistic (gradual return to work in March, normal in April), conservative (gradual return to work in March, normal in May), and worst (gradual return to work in March, normal in June).

5. Government regulation, many categories have been hit hard: game, frogs, etc.

6. Health and quarantine supervision must be upgraded, customer requirements become higher, and software and hardware services upgrade iteratively, otherwise it will be killed.

7. The industry shuffled and began to build a new order: forcing takeaways, forcing meals, and for branding.

From this point of view, the market for the catering industry seems to be in a doldrums, and at this time it is precisely a pair of eyes that need to discover opportunities. During the outbreak, in my opinion:

1. Hot noodles are on fire, this is our chance.

2. A good opportunity to integrate talents: some companies and stores are forced to move, and staff mobility has increased.

3. Good opportunity to integrate high-quality locations: poor stores are closing down quickly, a lot of vacancies are vacated, and the cost of the epidemic is reduced.

4. A good opportunity to open the gap with competitors: Everyone is more difficult. At this time, doing better than others will open the gap faster.

Value crisis and diagnose yourself
1. Guarantee cash flow.

At least six months of cash flow must be prepared, and in order to seize the opportunity after the epidemic, cash flow control funds must be used at the blade to do more with less.

Financing strategies include: equity dilution, attracting partners; internal financing; store joint venture or custody, internal entrepreneurship.

To support the supply chain account period: the importance of strategic suppliers, thank our suppliers.

Fight for rent-free stores: do a good job of communication and negotiation, and boldly communicate with the landlord, everyone can understand the special circumstances.

2. Share fragility and build a team.

Do an in-depth talent inventory, including yourself, internal and external.

Face up to the difficulties of the company, share with the core team, and formulate action plans to overcome the difficulties.

Immoral kidnapping, observing outstanding talents, actively acting in the face of difficulties, taking responsibility, and solving problems.

At the same time, this is also a test for external partners to distinguish which can be long-term cooperation and which are short-term transitions.

3. Self-diagnosis.

The founder should self-diagnose the various modules of the company, review people, finances, affairs, and strategy again in 2019 and re-plan 2020.

Iterative resumption plan to seize opportunities
When the epidemic started, it was necessary to iterate the resumption plan to seize the next good opportunity.

Store side. 1. Establish an outbreak response resumption team: do a good job of division of labor and provide services for the store, mainly prevention and control programs (store prevention and control, takeaway online promotion and process design), prevention and control materials and advertising products, personnel health and return Application. 2. Continue to formulate and iterate outbreak response plans: In response to government requirements, we have iterated over several versions. 3. Opening stores in batches: We first opened 1 store, then 3 stores, and then 10 stores … continuously testing and adjusting the plan at any time.

Several timely responses. 1. Increase online communication this year: WeChat account, Douyin and other social marketing. 2. Start developing peripheral fast-moving products for hot dry noodles: hot dry noodles, hot and sour powder, sesame sauce, miscellaneous sauce, etc. 3. Use of disposable environmentally-friendly lunch boxes: the cost of a dishwasher is comparable to this, but the efficiency can be higher. 4. Moving line design to upgrade the store model: single-person dining line design, single-person dining, efficient turnaround, you can refer to the design of Japanese ramen restaurants.

Talent Strategy
Finally, the company should take all partners to think deeply and make a three-year career plan for the partners. Competition in the catering industry: The starting point is ingredients (products), and the ending point is talents (teams). Regarding talent training strategies, we can do the following:

1. Promote it with everyone a year ago, and do one-on-one in-depth communication to correct errors.

2. Study online career planning courses during the epidemic and resubmit career planning.

3. Training, learning and reading.