The tavern sells barbecue and recruit, can the closing shop be saved to save Helen Division?

"Young Men's Night Starbucks" closed the shop.

Wen ｜ Qiao Xue

Source ｜ Tech Planet (ID: Tech618)

Cover Source ｜ Vision China

One year ago, on the occasion of the listing, Helen Division told a story that exchanged profits with scale and created a "third space" and "night Starbucks" that carrying young people's social gatherings; After the year, the fate of Helen Division turned a turning point, and Helen Chi was experiencing slowly opening a store and a fast closing store, and even closing the cruel reality of a hundred stores a day.

On the eve of the listing, the valuation of Hylun Division Given Hulun was HK $ 235 to 25.8 billion, and the issue price-earnings ratio was about 300 times, which was far higher than the current consumer stocks of Hong Kong stocks. For the number of stores, the valuation of a single store is 50 million yuan.

At the IPO, its prospectus promised that 70%of the fundraising was used to open a new tavern, which is expected to add 400 new stores in 2021, 630 new stores in 2022, and 900 newly opened stores in 2023. At that time, there will be a total of 2,200 taverns. In front of the epidemic, Helen Division is far away from the original goal. It may be difficult to achieve half of the goals at the end of this year.

Helen Chi can only continue to look for the first -growth two -curve, barbecue, franchise, and strive to increase customer unit price, but the degree of buying by young people is still unknown.

In front of the three Dashan, Helen Siguan stores his life

Helen Division is experiencing pain.

Hylun Sin released the financial report data from the semi -annual report, and the loss of 300 million yuan in the first half of 2022, even after adjusting the net profit (measured according to the non -Hong Kong financial report standards), the net loss reached 99.93 million yuan. Compared with the same period last year, after adjustment, it was adjusted. The net profit was 80.63 million yuan, and I have to say that Helen Division is experiencing a difficult period.

Just one year ago, Helen Division was also known as the leading company of the 100 billion "micro -" track. In the first year of listing, Helen Division has changed from profit to losing.

Even if the listing story is messy, the three mountains of the catering industry cannot be escaped, namely raw materials, rent and employee's labor costs. The three mountains in front of Helen Si were particularly heavy in last year.

In the first half of 2021, the above three costs were 690 million yuan, accounting for 79%of the total revenue. In the first half of this year, the three operating costs reached 860 million yuan, an increase of 24.64%year -on -year. In the first half of this year, how much money did Helen make? According to the financial report, the overall revenue in the first half of the year was only 874 million yuan, and the cost accounted for nearly 90%of the total revenue.

The listing is the time node. Before the listing, Hylun wants to tell the story of exchanging profits in scale. After listing, it is found that the scale and cost are also difficult to balance. Silently bear.

从门店规模来看，2018年至2021年上市前，海伦司从84家门店扩增到782家，其中在上市前后，更是在2021年第四季度，净增171 家门店，扩张速度快速且radical. In the first half of 2022, there were 879 direct -operated stores.

The scale of expansion has exacerbated the loss of Helen Division. In the first half of 2022, about 100 stores in the existing stores were adjusted, and the one -time loss was nearly 100 million yuan.

The increase in stores must be introduced to more manpower. In 2021, Helen Tisa owns 1,374 employees and 6,405 outsourcing staff. As of the first half of 2022, it had 1697 employees and 6,532 outsourcing staff, an increase of 23.51%and 1.98%year -on -year. In 2021, the number of employees in each store of Helen Si was 13, and it was adjusted to 9 after 2022.

In the face of huge costs, closing the shop to keep his life is a choice of Helen Division. This scene seemed to have known each other, and Haidilao, who also wanted to jump, also experienced it, and the experience of opening the store crazy under the impact of the epidemic was closed. Helen Division took this old road again.

Before the listing, Helen Division imagined another kind of scene, pressing all chips to expand, not only to increase profits and revenue, but also further increase the market share. One problem to face is that the low -cost strategy and the already high turnover rate make the profit growth less simple.

Behind the phenomenon of Guandian's life -saving phenomenon, Helen Chi is thinking about his own model again.

Barbecue, joining, which one can save Helen Division

In the face of expanding losses, Helen Si can only quickly turn to find a second growth curve.

Helen Chi first put his attention to the barbecue business. Barbecue and wine seemed to be a natural match.

Helen Si only sells wine, which seems to be a label in the minds of consumers. Helen Division's own own and third -party wine drinks are known for their low prices. In order to allow consumers to have a better dining experience, customers allow customers to bring their own catering. The vast majority of catering stores will marked eye -catching slogans such as "prohibited food". Even if there is no sign of prompts, it has become a "hidden rule" without having a reminder.

A consumer who often goes to Helen Division told the TECH planet that he likes Helen Division, and he can even take takeaway at Helen Division. One of the reasons is that there are not many meals provided by Helen Division, only snacks such as peanut rice, chicken rice flowers.

And this existing logic was slowly broken by Helen Tisa himself.

In May of this year, Helen Division launched a different "Helen Chi · Yue" store in the past. It is also the first to introduce more food SKUs in the "Helen Si · Yue" store type. For example, the product lines of large stalls, skewers, cold dishes, etc. This is not available in the traditional Helen Silk store; because in the market, because the market is under the market; Shen, there are also local specialty products; because of the rich product line, you can use Passion fruit beer and barbecue to nurture other businesses in the store. At the end of September, there will be hundreds of fragrant fruit beer, and 70 or 80 stores have been grilled to complement each other.

From this trend, it can be seen that Helen Tisa has worked hard on increasing the unit price.

In order to maximize the unit price of the customer, Helen Division also extended its business hours. The business before 9 o'clock was revitalized. The business hours started at 5 pm, increasing the consumption of dinner and dinner.

In the past, in order to save costs, Helen Chi often chose the non -gold area of ​​the core business district or the location near the university town; in this position, it can capture the most accurate customer base, but also reduce costs. In decoration, all adopt use in decoration. Southeast Asian nation style, products, SKUs of drinks are very uniform and streamlined, mastering the advantages of supply chain.

There are currently two "Helen Terminal · Yue" stores. Unlike the previous model, the "Helen Sini · Yue" store is not only more luxurious, but also in the business district of the core of third- and fourth -tier cities. In addition , Basically requires the establishment of the entire facade. Taking one of the Vietnamese shops "Lichuan Store" as an example, the store's store is eye -catching and high -profile.

On the other hand, the "Helen Si · Yue" store has gradually liberalized to join. In fact, between joining and direct business, Helen Division is constantly swinging and changing.

At the beginning of its establishment, it was not the Helen Division, which was now like. At that time, the main consumer groups were foreigners and international students. I do n’t know if the portrait portrait is too narrow and niche. In 2012, Helen Division began the first transformation, locking the target customer group as young people in the country. In 2015, it was upgraded again, defining itself as a gathering space for young people, and starting chain management.

In the early days, Helen Chi once expanded the scale in the model of "direct operation+joining". After 2018, Helen Division gradually changed its joining into a direct business, and all stores are currently directly operated. The advantage of this model is that it can control the speed of opening stores and improve profits in centralized management.

At present, Helen Si, who is experiencing the pain of closing the shop, has to re -challenge the established strategy and open the mouth of joining again.

An insider told Tech Planet that there were more than 90 tables of Lichuan stores. In July, the monthly income had exceeded 1 million, cash profit was 45%, and in August 1.06 million income, average of more than 30,000 income, average tables of more than 400 yuan. At present See, the cooperation model is indeed very helpful for the mobility of profitability.

Tech Planet also learned that the current cooperation franchise model of Helen Division does not charge the brand franchise fee. In the later period, Helen Tisa made a management fee for the income of franchise partners. In the early stage, it has been opened to internal partners, and there are currently no place to join.

However, the TECH planet was obtained from a local shopkeeper of a "Helen Sini · Yue" store. At about 11 o'clock that night, Helen Tisa had only more than 10 tables at the time, nearly one -tenth of the seat rate, and the official statement was in and out. Essence And the "Helen Si · Yue" store, which has been opened for nearly 4 months, has only 7 evaluations in the public comments, which seems to be a gap with the popularity.

However, it is undeniable that Helen Division is doing his best in increasing the unit price of the customer. According to the prospectus, the per capita consumption of Helen Chi has been 93.2 yuan, 108.1 yuan and 109.6 yuan in the past three years. While the annual cost increase, the per capita consumption increase is slow.

Whether it is the hot effect of the new store, or the superiority of the "Helen Sini · Yue" store model, it remains to be observed, but an indisputable fact is that in the re -introduction of the franchise model, Helen Si must not only give up some profits, but also share more sharing More energy to manage joining stores.

"Houlang's small tavern", young people don't love?

The most noticeable point in Helen's story is that this is a small tavern that young people love.

Young people love more than just wine, but social currencies. On the time of listing, Helen Division described himself as a "third space" carrying the "third space" carrying young people's social gatherings, which is "young people's night Starbucks".

Judging from the current status quo, this story is obviously difficult to continue. One year after listing, Helen Tisa obviously overestimated the degree of love for young people.

From 2019 to 2020, the average daily sales of a single direct tavern was 10,400 yuan and 10900 yuan, respectively. In the first half of 2021, the data increased to 1,1900 yuan. However, in the first half of 2022 Yuan, a straight line dropped by nearly 40%.

On the one hand, the love of young people is too easy to "die with the wind". It is not difficult to become an Internet celebrity.

The founder of the jumping sea tavern in the tavern industry told Tech Planet, "Different drinking and eating, catering is just needed, such as eating sea land, I will eat it next time I want to eat, but drinking is actually a impulsive consumption, or experience Consumption, this time I go to this tavern, and I want to go to other homes to experience when I want to drink next time. "

And young people just have to feel fresh, pursuing freshness and stimulus is the constant of the change. For Helen Division, large -scale replication makes consumers fresh no longer. Buy or second -time consumption. On the other hand, the reality is that even if the size of the industry is the first scale, Helen Division can only occupy a small market. The company accounts for only 2.2%). Even the industry is first, it can only be divided into about 1%of cakes. The industry is mainly composed of independent tavern (less than 3 places) and a few chain tavern networks.

In addition, the natural turnover efficiency of the tavern industry is low. Due to the restrictions on consumer scenarios and business characteristics, the rising rate of the tavern industry is naturally lower than other formats. The turnover rate of Helen Chi in 2020 is about 2.32, which is much higher than the average value of 1.5 in the bar industry. The turnover efficiency of the store is significantly lower than other formats. It is almost hopeless to continue to improve. The current main strategy of Helen Sin has shifted to third- and fourth -tier cities such as counties. The focus of the tavern expansion is other sinking markets. It is difficult to increase per capita consumption.

Even in the face of such a bleak profit, Helen Division still has not stopped opening the store's ambition and is constantly expanding. According to the current official data, there are still more than 50 stores in the decoration store this year, but it may not be a good thing.

The prospectus shows that taking Changsha Jiefang West Road Commercial District as an example. As of the end of 2020, Helen Chi has operated 10 tavern in the business district. The traffic in the same business district is basically constant. Competition in the same brand will only lead to diversion rather than increasing traffic.

While holding the "basic disk" of the tavern, how Helen Chi is constantly exploring the second growth curve to cater to the changes in the preferences of young people is the basic proposition of the next stage.

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"Young Men's Night Starbucks" closes the shop to keep his lives

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