Chapter 159: A huge hit in the first week of business
Jianing City, there is also a Wanxiang Little Chef store located in the core of the office building cluster.
Huge floor-to-ceiling glass windows provide an unobstructed view of the interior.
At this moment, there are several riders waiting for food in the takeout area.
There are also many curious passers-by outside the store. Through the glass, you can see the Xiaoyuan robots in the kitchen busy on their respective stoves, performing their respective duties, full of mechanical beauty and high efficiency.
There is no oil fume in the air, and the kitchen has a powerful downdraft purification system. People will choke, but robots will not.
There is no scene of the chef sweating or cooking with a cigarette in his mouth.
There is only the sound of the spatula colliding with the iron pot and the sizzling sound of the ingredients being poured into the oil.
"It's so clean, there's no oil at all, and the ingredients look fresh." A passerby onlookers marveled.
In the kitchen operation area, I saw a Xiaoyuan robot loading a prepared dish into a lunch box, and then gliding to the food outlet. Another Xiaoyuan robot quickly labeled it and put it into the warming cabinet.
Soon, a takeaway rider who was already waiting in the food pickup area received a reminder that he needed to scan the code when picking up the food. This was to prevent someone from stealing the food. The rider stepped forward to scan the code, pick up the food, and then left the store.
…
After Wanxiang Kitchen was launched in five major cities, it quickly became a hot topic on the Internet and a new traffic password.
It has been well received by consumers as soon as it was launched online.
Ultimate transparency wins the trust of customers. Live broadcast and transparent windows display the ingredients, process, and hygienic conditions in front of consumers in real time, completely eliminating concerns about the "black box" of takeout.
Efficiency has been greatly improved. The robot is tireless and precise in its movements. The heat and seasoning are strictly controlled by sensors and algorithms, ensuring that the taste and quality of each dish produced by the same "chef" are highly consistent.
The meal delivery capacity during peak hours surpasses traditional catering kitchens.
In addition, it is also a duel of traffic and experience. Live viewing and offline viewing have become new consumer experience and marketing methods.
The emergence of Wanxiang Little Chef has also been closely watched by major business partners and capital circles.
Industry and media figures are also discussing Wanxiang Kitchen’s business model amid huge enthusiasm.
Wanxiang Kitchen is neither a traditional takeout shop nor a shared kitchen, but a "self-operated + jointly operated" high-quality catering takeout platform. Behind it is Qin Yiyun's ambition to use supply chain capabilities to reconstruct the catering industry.
This is destined to be a model of heavy assets, which is completely opposite to the light assets of peers such as Magnesium Tuan, Nuomi, and Ele.me.
In other words, friends cannot imitate it.
Because this requires a huge investment in the early stage, Qin Yiyun has Lu An to guide him, so he can become a "Krpton player" without worrying about the risk of a broken capital chain.
·Friends, let alone 100 billion, even 10 billion is enough.
The model of Wanxiang Little Chef, in one sentence, is: the catering brand or chef provides the recipes, Wanxiang Little Chef provides the funds, supply chain, kitchen and operations, and both parties jointly share the profits. Consumers can eat freshly fried, clean and affordable takeaways.
Although the chef is "unemployed", he is not without income. Because he can earn a share of the money, the quality of life is actually higher, so many chefs are willing to cooperate with Wanxiang Kitchen.
Wanxiang Kitchen is not doing takeout, but industrializing catering.
Use robots + transparent kitchen + cold chain to standardize and scale catering, create the ultimate supply chain efficiency, and make freshly cooked dishes with the ultimate cost-effectiveness.
In the takeout industry, there are endless ghost takeaways, unsightly kitchens, and other industry pain points. Wanxiang Kitchen uses the three pillars of fresh cooking + live broadcast + traceability to gain the trust of consumers and create a new track for "quality takeout".
Another point that is different from its peers is that Wanxiang Kitchen does not earn the middleman’s price difference, but earns money from the supply chain.
Just like Haidilao does not rely on hot pot to make money, but relies on Shuhai supply chain to make money.
However, Wanxiang Kitchen has just started, and the supply chain is still losing money, because the existing supply chain system of Wanxiang Huitong is still insufficient and small in scale. To build a complete supply chain system, it will take five or even ten years to complete, and the investment will be huge.
In other words, you must be prepared for long-term losses, especially in the current industry structure where thousands of groups are fighting, and you must also burn money on subsidies.
If you don't have enough "monetary ability" to make money, you really can't play it, and you will die before this model reaches a positive cycle.
Wanxiang Xiaochu's dish partnership system allows partners to realize light assets of catering IP, and profit distribution is based on a guaranteed minimum of one million plus an uncapped share for the partners.
Shop opening, decoration, rent, manpower, equipment, procurement, operation, and distribution are all taken care of by Wanxiang Kitchen, so its asset model is asset-heavy.
Use Xiaoyuan robot to cook food to ensure stable taste.
Use live broadcast to trace the source and build consumer trust.
Wanxiang Kitchen uses its supply chain capabilities to transform catering brands or chefs from "asset-heavy operators" to "asset-light content creators", while Wanxiang Kitchen itself is a "platform + factory".
In other words, it is not here to fight a price war with other peers, but to redefine how food delivery is done.
…
At this moment, Lu An was sitting on the sofa in the living room, watching a piece of news.
He Zhiyuan, the person in charge of Wanxiang Kitchen, was interviewed by a reporter from the "Daily Economic News": "On the first day of official business, orders exploded. In the first week of the opening of the first store, the daily average was 1,300+ orders, and the repurchase rate is +280% higher than the industry."
Just yesterday, Wanxiang Little Chef officially announced the launch of a "dish partner" recruitment plan, investing 5 billion yuan in cash to recruit partners for 5,000 signature dishes from national catering brands and individual chefs. This plan is long-term.
Partners only need to provide dish recipes and participate in research and development, while Wanxiang Chef is responsible for fresh cooking and quality control, and sells through takeout and self-pickup.
He Zhiyuan responded to the reporter's interview and said that Wanxiang Kitchen has a completely different business model from other companies such as Magnesium Tuan and Ele.me. He hopes that consumers can buy cost-effective and safe food and food.
As for the upstream of the supply chain, we only use big brands and guaranteed supply chains. For example, for condiments, we reuse Wanxiang Huitong’s existing advantageous supply chain, including big brands such as Zhongliang and Zhongyan.
He Zhiyuan in the camera replied to the reporter with a supplementary explanation: "The model is a joint venture. Different brands and different chefs participate as 'dish partners' and enjoy the share of each dish. This is our mechanism for profit distribution." At the end of the video, the reporter asked about the large-scale operation of Wanxiang Kitchen stores. The person in charge, He Zhiyuan, said that the platform will build at least 10,000 stores nationwide in the next three to five years.
Lu An said with a smile after reading this piece of news: "The beginning is pretty good."
Meng Qiuyan immediately said: "However, the capital market does not seem to buy it. Ever since Qin Yiyun announced that he would spend 100 billion to enter the takeout industry, Wanxiang Huitong's stock price began to plummet."
In the first half of this year, Wanxiang Huitong’s stock price has been in a new round of rising cycle since February, except for the large circuit breaker at the beginning of the year. Especially in the second quarter, the bullish trend of the stock price has become stronger and stronger.
Last month, its stock price hit a record high of 1,368.76 yuan, becoming the first A-share stock with a unit price exceeding 1,000 yuan, with a total market value of 650.1 billion.
The core factor driving the skyrocketing market value of Wanxiang Huitong is Metaverse Intelligent Control.
In the first half of the year, Metaverse Intelligent Control's solid-state lattice batteries received huge orders one after another. Bionic prosthetics were also sold well due to the stimulus of national subsidies. Xiaoyuan robots were also sold more and more popular, which also drove Wanxiang Huitong's stock price to rise.
Until Qin Yiyun announced that he would smash the RMB 100 billion group delivery industry, investors were immediately frightened.
How many years will it take to recover the cost?
With Qin Yiyun's style of play, the dividends he received from Yuanjie Intelligent Control were not enough to make him lose his fortune.
The important thing is that the capital market is not very optimistic and believes that it is too late to enter the food delivery industry at this time. Qin Yiyun's move is likely to fail miserably.
As a result, the stock price peaked at 1368.76 yuan and fell. The current stock price can barely hold the thousand yuan mark, and the market value has also fallen below the 500 billion mark, falling to 480 billion. Since the fall from the historical high, 170 billion has been evaporated.
At this time, Lu An heard Meng Qiuyan's words and said calmly: "As expected, capital is not optimistic. I am short-sighted and have no patience, but I am quite optimistic."
Wanxiang Kitchen’s model is unlikely to achieve results in a short period of time, because building a supply chain system cannot be completed in one or two years. Referring to Jingdong’s logistics system, it took more than ten years to complete.
But as long as the supply chain system is successfully built, it can become a powerful barrier and moat for Wanxiang Little Chef.
Because the models are different, if others want to follow Wanxiang Kitchen’s model, it will also take more than ten years and huge cost investment.
When Wanxiang Kitchen’s supply chain system was completed, a positive cycle was formed. At that time, few people were willing to copy its business model, and capital did not dare to gamble. Spending hundreds of billions or even more may not necessarily capture much market share, and may even lose.
Just like Jingdong's current logistics model, no one follows it. They spent huge amounts of money and more than ten years to build a logistics system. If you want to replicate it, you have to go through Jingdong's path again. While you have spent more than ten years, others have been making money in a regular cycle for more than ten years.
When you are about to start the positive cycle, thinking that you are finally going to start making money, someone will use the profit reserves they have saved for more than ten years to fight you for money. You will be petrified on the spot, and you will be dumbfounded.
At this time, you want to find capital for blood transfusion to extend your life. Not to mention whether capital is willing to accompany you for more than ten years, even if it is, but at this time capital is about to return blood, but you tell him that you still need blood transfusion? Capital couldn't stand it either, so they had to cut up their flesh and carry buckets and run away overnight.
No one in Jingdong is willing to follow me, let alone Wanxiang Little Chef.
Qin Yiyun has Lu An behind him, and the health bar is so thick that it cannot be consumed at all.
No one dares to follow us if we are on the same starting line now, let alone establishing a supply chain system ten years later, which will be even more unaffordable.
…
(End of this chapter)