Opening a Panda Express Franchise
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Panda Express is a wildly successful chain of restaurants, easily the most dominant chain of Chinese-food restaurants in the U.S.
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Section 2.0 Sales Forecast (Draft)
10
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Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Industrial Tech SW: Category Renewal and Creation
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Part 2 Deep Dive: Navigating the 2024 Slowdown
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The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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Creative Web Design Company in Singapore
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
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https://rb.gy/usj1a2
-- June 2024 is National Volunteer Month --
Check out our June display of books on voluntary organisations
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Understanding User Needs and Satisfying Them
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
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• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
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Opening a Panda Express Franchise
- 2. Panda Express is a wildly successful chain of restaurants, easily the most dominant chain of Chinese-food restaurants in the U.S.
- 3. The brand is so big, they were in serious discussions about purchasing P.F. Changs.
- 4. They’ve been around longer than you remember, too — they were actually one of the first major chains to use the computer-based POS system (that is now ubiquitous in quick-service restaurants worldwide) way back in 1983.
- 6. According to their 2014 financial disclosures, the average Panda Express startup costs break down as follows: ● License Fee: Unknown (see below.) ● Lease (first 3 months): Varies widely; as little as $12k for a small food court location or as much as $425k for a larger walk-in branch.
- 7. ● Leasehold Improvements: Varies widely again; as little as $80k for a small space that requires no locally-regulated improvements or as much as $500k for a massive (2,500 sqft.) space that requires complex or elaborate improvements such as a specialized exhaust system.
- 8. ● Furniture/Fixtures/Equipment/Supplies: $90k to $210k, based on expected daily volume, but even more so on the financing terms you’re able to negotiate. ● Initial Inventory: $2,200 to $3,600 based on expected daily volume. ● Computers: $14,000 to $18,000 depending on financing terms.
- 9. ● Insurance (annually): $21,000 to $65,000 depending on local regulations and the likelihood of specific natural disasters. ● Initial Training Expenses: $13k to $30k, depending on how far you and your management have to travel to get to the initial training program.
- 10. ● Architecture and Construction Costs: $32k to $85k depending on size of structure and local price variations. ● Taxes: $4.5k to 10k for sales tax deposits, depending on expected daily volume. ● Licenses and Permits: $1.5k to $30k depending on local ordinances.
- 11. ● Telephone/Internet/Fax and Related Expenses: $.5k to $1k. ● Necessary Capital: Used to support the business until it starts to turn a profit — $60k to $120k depending on expected daily volume and recurring costs.
- 12. TOTAL:
- 13. Profitability
- 14. According to the owners — Peggy and Andrew Cherng — the profit margin of a typical Panda Express is a little lower than industry leaders, clocking in around 10%. (Compare to 25% at Chipotle for example).
- 15. This is, according to the Cherngs, because Panda focuses so much on creating great food and offering its employees strong opportunities for personal growth.
- 16. The owners are satisfied with their profit margin, and don’t plan on doing anything to meaningfully move it anytime soon.
- 17. Qualifications Required of a Franchisee
- 18. There’s only one qualification Panda Express asks of a franchisee — that you become an employee.
- 19. Yep, Panda Express doesn’t offer franchises. They almost went public in the ’90s, but are glad they decided against it and intend to continue with no franchises for the foreseeable future.
- 20. Alternatives
- 21. If you’re interested in running a Panda Express franchise, don’t let that news get you down — there are dozens of Chinese food franchises and several hundreds of food franchises out there for you to choose from.
- 22. Get in touch with a skilled franchise broker who can help match you with the franchisor that best fits your passion, skills and budget.
- 23. For further info, visit: http://franchisecity.net