Bangkok--25 Dec--KASIKORNBANK
Teaming up with S. Khonkaen Foods PCL., KASIKORNBANK (KBank) is offering financial support to investors interested in Zaap Classic (Northeastern food) and Yunnan (pork knuckle stew with rice) restaurant franchises, allowing up to 70 percent of the investment value in loans, plus low interest rates and up to a 10-year installment term.
Mr. Akaranant Thitasirivit, KBank First Senior Vice President, has said that KBank has entered into a partnership with S. Khonkaen Foods PCL. to offer K-SME Franchise Credit loans to help finance those interested in opening Zaap Classic or Yunnan restaurants. Financing will be granted at up to 70 percent of the investment value, with low interest rates and long installment terms of up to 10 years. KBank will also install EDC devices at those restaurant outlets along with special service fee rates toward their use. QR code payments will be allowed on dining bills via the K PLUS SHOP application, which will facilitate both merchants and consumers. More details may be obtained from KBank's Value Chain Solution Analysis and Integration Team, Tel. 02-8674298.
Mr. Akaranant added that according to KResearch, the market turnover of restaurant business in Thailand during 2017 may reach 390-397 billion Baht, up 2-4 percent YoY. Of that amount, 119-122 billion Baht will go to chain restaurants and 271-275 billion Baht to non-chain restaurants, most of which are small-or medium-sized establishments. Quick Service Restaurants (QSR), mostly small and medium in size, have enjoyed steady growth. QSR market turnover is projected to reach around 44 billion Baht this year. Given the thriving QSR business, coupled with S. Khonkaen's long experience in food business, KBank is therefore certain that Zaap Classic and Yunnan will be excellent restaurant opportunities for prospective franchisees.
Mr. Jaraspon Rujirasopon, Chief Executive Operation – QSR of S. Khonkaen Foods PCL., or "SORKON", said that S. Khonkaen is a long-established food brand producing myriad food products that are now popular with Thai and international customers. The company has also gained success in operating "Zaap Classic" and "Yunnan" quick service restaurant (QSR) chains after tapping into restaurant business during recent years. Such restaurant chains have grown steadily because they offer the most popular local foods that suit the palate of Thai consumers. Busy lifestyles now also mean that many opt to dine, or order takeaways, from our quick service restaurants that serve quality, tasty foods.
S. Khonkaen Foods has thus opened restaurants to serve customers across the country. The company also plans to grant more franchises to entrepreneurs interested in acquiring their own outlets with an initial investment of only 3.5 million Baht for Zaap Classic, and 600,000 Baht for a Yunnan outlet. The first five applicants who receive loan approvals from KBank to open a Zaap Classic or Yunnan franchise will be entitled to loan entry fee discounts valued at 20,000 Baht and 10,000 Baht, respectively.
S. Khonkaen is planning to add over 10 Zaap Classic and Yunnan restaurants in 2018, starting with the Bangkok Metropolitan Area, because of the population density and fast-paced lifestyles that appreciate quick restaurant service. The trend will also enable S. Khonkaen to add delivery services to their existing urban outlet operations as a good business opportunity in the future.