Bangkok--6 Feb--ChomPR
Food Passion Co. Ltd., the operator of the popular restaurant chains "Bar B Q Plaza", "Joom Zap Hut" and "Hot-Star", today revealed the success of its reorganization last year that has boosted total revenue to 3.38 billion baht, of which 99% is derived from its flagship brand Bar B Q Plaza. To grow its business and strengthen its leadership of Thailand's food industry, Food Passion will continue to follow its 4-year roadmap which targets 6.5 billion-baht in revenue by 2020.
Mrs. Chataya Supanpong, Food Passion Co Ltd.'s Chief Engagement Officer, said that after the company's restructuring, each brand achieved its target revenue, leading to 13% growth overall to 3.38 billion baht last year. Bar B Q Plaza accounted for 99% (3.34 billion baht) and Hot-Star 1% (35 million baht).
"Apart from the excellent annual revenue result, the prominent and key successes of our business operation include establishing inspiring business targets and implementing effective strategies," Mrs. Chataya said. "These have laid out a distinct business direction which unifies all brands under the Food Passion umbrella, allowing them to thrive and reach their full potential. We continue to present Food Passion as the company that brings happiness through food. And to potentially advance our business to achieve our long-term target, we continue to follow these 4 basic business strategies:
1) Business for the People - Adopt a happiness-oriented approach in the business. Prioritize human resources, starting with employees through to customers to create a cycle of sustainable happiness using a "Strong Team Relationships via Outward Mindset" concept. This concept concentrates on mutual targets and internal relationships, enabling the whole organization to move in the right direction continuously and sustainably.
2) Do It with Passion and Pride — Build love and pride in the work and duties of employees at all levels, delivering the best service to customers, allow them to give feedback and use their creativity to create new things. In implementing this strategy, the "Startup Mentality Entrepreneurship" concept is used to encourage employees to return something good to society.
3) Innovation for the Customer's "Journey" — Use innovation to leverage the customer's experience at every touch point under the concept "10x through Creative Synergy and Value Added", focusing on the creation of innovative ideas that add value to the business and services.
4) Speed to Market — Transform the company into a dynamic organization to ensure speed in business operation and management under the concept "Adjust the Sails and Leverage Our Resources", which capitalizes on existing resources to suit each changing situation.
Food Passion aims to grow by 13% this year and draw revenue of not less than 6.5 billion baht by 2020. The company has invested 60 million baht on warehouse expansion and doubled its central kitchen area to support a giant leap forward by each existing brand and new ones. The company has also set aside a budget of 810 million baht for marketing and business expansion, divided into 630 million baht for Bar B Q Plaza branch expansion and renovation and 180 million baht for Hot-Star, plus the new brand.
Mrs. Chataya also revealed plans for overseas expansion. Currently, Bar B Q Plaza has 17 branches in Malaysia and two branches in Indonesia. The company plans to open one more branch in each country and a new branch in a third country, with details to be revealed in the second quarter of 2017. With these new outlets, the company will achieve its target of operating 30 branches in four countries within 2020.
Ms. Boonyanuch Boonbumrungsub, the Executive Vice-President of Bar B Q Plaza Business Unit, Food Passion Co., Ltd., revealed that the company's reorganization had brought a giant leap in growth to 3.345 billion-baht in revenue, a 12% increase from 2016. This has made Bar B Q Plaza Number One, with 60% market share among Thailand's grill restaurants. The growth in sales is the result of the 20-branch expansion last year and the year-round promotional campaigns pitched at existing and new customers. The company has also improved its branch management systems by bringing in mobile technology to manage customer queues, maintain food quality and standards, as well as enhance its service quality to leverage the customer's experience and create an indelible impression in all aspects. With all these, Bar B Q Plaza was ranked in the Top 5 for Casual Dining Restaurant's Brand Awareness.
"The past year was considered a year of learning and growing for Bar B Q Plaza as we have created a new phenomenon in society. The situation in 2016 proved that Bar B Q Plaza has become not just another eatery, but one of the restaurants most loved and trusted by diners. Celebrating its 30th anniversary this year, Bar B Q Plaza will continue to succeed and build trust by lifting the Bar B Q Plaza brand to the next level -- from a brand that makes people happy through our meals to a brand that inspires consumers and provides new experiences every day. With its unique marketing scheme filled with creativity, Bar B Q Plaza creates the ultimate experience for our regular customers and at the same time attracts new ones," said Ms. Boonyanuch.
The company this year will continue to expand its branches in order to reach out to consumers around the country. With its aim of opening 20 more branches this year, Bar B Q Plaza also prioritizes the expansion of its consumer base. It is preparing to offer a signature benefit which is to serve special sets especially designed for members. The goal is to boost membership to 1.44 million people this year.
Ms.Boonyanuch revealed four key strategies for Bar B Q Plaza in 2017. First, be a brand that inspires people through meals. Second, expand the business and increase revenue by building new distribution channels. Third, raise the bar for service. And lastly, continually open new quality branches
"We have recently introduced a long-awaited Refill promotion at all Bar B Q Plaza branches. Another big surprise, Beyond Refill, will also be presented to consumers at 10 branches that feature Black Pan. With best-selected premium wagyu beef, the Beyond Refill promotion will allow consumers to eat non-stop throughout their meal. A table of four customers, joining the Beyond Refill promotion, will be served with a Canadian-imported lobster free of charge. This will open a new chapter for the food industry, and it's our determination to deliver happiness to our customers at every meal," said Ms. Boonyanuch.
For Hot-Star brand -- under the leadership of Mr.Chanin Choopojcharoen, Executive Vice-President of Hot-Star Business Unit – which created the phenomenal Hot-Star chicken and XXL-sized chicken, its revenue reached 35 million baht as a result of its diverse marketing campaigns. There were two introductory campaigns and 20 smaller promotional campaigns, including proactive communications to the target group. "These marketing campaigns have made our brand an outstanding one and listed us as a top 10 best chicken brand in Thailand by famous websites. The brand also attracts a younger generation of consumer who seeks new flavors and unique experience from Hot-Star," Mr. Chanin said.
"The strategy for Hot-Star this year is to rock the market with our signature dish, the XXL chicken. The distinctiveness of the dish – which is a unique flavor resulting from a special Taiwanese-style marinade combined with premium cutting – will allow customers to fully enjoy the flavor of the freshly-fried chicken. The special dish is now served at eight branches of Hot-Star at leading department stores. Hot-Star Pop-up Store are also introduced at marketing events which are hang-out spots for the younger generation. The brand will focus on developing effective communication strategies with target customers this year, rather than expanding its branches. The distinctiveness of our signature dish, XXL chicken, will be highlighted to customers. Of all its revenue, 50% is from the signature dish, 25% from other dishes, and the rest from beverages," concluded Mr. Chanin.
As for the long-term goal until 2020, Food Passion Co., Ltd. expects growth to double and revenue to reach 6.5 billion baht. The expected revenue will be divided into 85% from Bar B Q Plaza, 9% from overseas markets, and the rest from Hot-Star and new brands.