Author: Wen Yu, Editor: Small City Girl
Strong abilityPeople never complain about the environment, and great companies are born in winter.
When most companies are still attributed to the reasons for failure to meet the standards, Haidilao has quietly created history.In 2023, the company continues to operate business revenue (that is, the remaining business after excluding the Special Sea International Business) is expected to be no less than RMB 41.40 billion, and the net profit is expected to be no less than 4.40 billion yuan. Compared with 2019, revenue and net profit are respectively.It increased by 65.9%and 71.8%, with a record high.
The growth story of all catering brands is inseparable from this formula.
Haidilao originally wanted to take the road of expanding the store to drive the growth.The turnover rate has severely declined (from 5 times/day in 2018 to 3 times/day in 2021), and its profit and stock price have fell sharply.
The crisis forced the reform. In 2022, the founder Zhang Yong took the initiative to abdicate, and Yang Lijuan, the person in charge of the "Woodpecker Plan", took over.Taking this as a sign, Haidilao has entered a new strategic adjustment period. The core is to shrink the front, improve quality and reducing costs, and change the pursuit of store expansion to the turnover rate.
The strategic intention is gradually realizing.
On the one hand, it is still restrained in expansion. In 2023, Haidilao opened only 9 new stores throughout the year, and nearly 30 hard -bone stores restored to business.Some stores with poor operating conditions last year were very limited.
On the other hand, the turnover rate has been effectively improved. It has been restored to 3.3 times/day in the first half of 2023, and it continues to improve in the second half of the year.%, A month -on -month increase in the month in the fourth quarter, and gradually approached the level of the turnover rate in the same period in 2019.
In particular, the core costs such as manpower, rent, raw materials during the period have been compressed.
Human resources, the number of single staff in 2022 reduced to 76, a decrease of 30 people year -on -year, and the companys labor costs accounted for 3.19pct to 33%year -on -year.Last year, the number of employees in the store was restored, and the number of employees in single stores increased. However, due to increasing the proportion of part -time employees, the proportion of employee costs continued to decline, from the first half of 2023 to 30.5%.
The rental level, because the outbreak has been deployed more low -cost points in three years, and some stores have been depreciated but they are still operating.The proportion of items has declined.In the first half of last year, the rent -related costs accounted for 1.1%, a year -on -year decrease of 0.1PCT. Other depreciation amortization accounted for 8.0%, a significant decrease of 3.4PCT year -on -year.
At the raw material level, Haidilao mainly reduces the cost of supply chain and localized procurement capacity.In 2022, the company built a smart central kitchen in Shanghai, supporting store dishes in the four provinces of Jiangxi, Zhejiang, Shanghai, and Anhui. The proportion of raw materials and consumables that year decreased by 2.2PCT to 41.6%year -on -year.In 2023, Haidilao continued to reduce the cost of raw materials by increasing the proportion of prefabricated finished products. The proportion of raw material costs in the first half of the year fell to 40.7%.
All these aggregates are projected on the financial statements, that is, a significant improvement of profit and profit level.
Based on the revenue of 4.1.4 billion yuan in net profit in 2023, Haidilaos net profit margin last year reached 10.63%, which was far ahead of 4.42%in the same period of 2022.
Culture reduction can be enlarged, but it cannot expand revenue. The key to generating incremental is also to release the vitality of the organization. This is also the second focus of Haidilaos reform.
Relatively flat, adopt the master and apprenticeship model, divided into four levels: headquarters, coaches, family chiefs, and store manager.During this period, the focus of the companys strategy was to expand external, so it fully gave the stores long -storey store expansion and operation management power. At the same time, it formulated a mechanism for the master and grandsons profit commission to enhance the store managers motivation.
After the "Woodpecker Program", the companys strategic focus becomes the improvement of governance capabilities and operating efficiency, and the interest driving mechanism has changed.
The proportion of the profit dividend of the store manager has been increased. At the same time, it is also necessary to bear the liability of some disciples.Improvement of business and profitability.The salary structure of the front -line employees has shifted from the past "high base salary+low dividends" to "low base salary+high dividends", and gives a certain equity incentive.
In the first half of last year, Haidilao further optimized the structure, and the region system divided by the family as the region (provincial and district) was divided into 19 districts.From the regional system to the regional coaching system, the core is to shorten the management radius, refine the granularity of management, and emphasize the independent intensive cultivation of the territory.
The entire organization reform process seems complicated. In fact, Those who can do more and work more.
Second, decentralize power at the grassroots level and believe in the wisdom of the people.
Employees subjective dynamics are exerted vividly.
In 2023, Haidilao launched a total of more than 300 new products, most of which are regional limited flavors, Shanghais yellow lantern pepper hot pot, Kunming coconut winter yin pot bottom, Shenzhen in ShenzhenThe hot pot oysters, as well as Qingdaos seafood workshops, Shenzhens beef workshops, and Tianjins lamb workshop store ... These new products adapted to local conditions effectively improved Haidilaos ability to obtain customers in the local area.
Another example is the service.
Haidilao in the business district of Qingdao Licun directly to the night market to sell hot pot, almost every day, this model was quickly promoted to Shanghai, Zhengzhou, Xian and other countries.A city; the economy was hot in 2023. Haidilao not only opened the exclusive bus carrier service for fans, but also was responsible for providing microphone, audio, and fluorescent sticks."2gkrlkn4"> If the vitality of Haidilao is released, the market is touched.
[Times at a time, follow the trend]
2020The pressure of cost, Haidilao implemented price increases on some dishes after restoration.
From a rational perspective, this choice is not difficult to understand. On the one hand, the increase in supply chain costs is a problem faced by the entire society. Most catering brands will increase the price and pass the cost;On the other hand, Haidilao has always shown people with a high -brand premium, and the price sensitivity of the target consumers is not high, and it should be acceptable.
The result is completely opposite. This incident has evolved to the end and even became a hot spot in public opinion. Only under the rapid self -correction of Haidilao to calm down.
Perhaps this time it was inspired by the rollover. Chinese society is entering the era of cost -effective consumption. Compared with brand upgrades, most people prefer to be delicious.Based on this perception and judgment of reality, Haidilao did not have the disability, but took the initiative to integrate the initiative.
A intuitive data is the unit price of the customer. In the first half of 2023, the unit price of Haidilao has dropped to 102.9 yuan, which is significantly declined compared to 112.8 yuan in the same period in 2020.
On September 26 last year, Haidilao launched the sub -brand "Hi Lao Hot Pot" to further compress the unit price.In response to non-dinner demand on working days, two types of pot bottom options are provided for 29.8 yuan avocado and 19.8 yuan clean oil.People (Haidilao is 8-10 yuan), the overall unit price is 30%to 70-80 yuan compared with Haidilao.
The birth of Hi Lao Hot Pot has two layers of meaning. First, lightweight stores are an important attempt to get rid of the operating model of the traditional large shop doting list to open the road for diversified development;Second, the cost -effective hot pot model also carries the willingness of the group to explore the cheap catering. The central kitchen system established before is to some extent to prepare for the sinking of high efficiency and low cost.
Although the brand cognition and image are not completely mature, the business model of Hi Lao Hot Pot has been proven to be established by the market.More than 4 times, the weekend flip rate can reach 6-7 times.Considering that Laibubu has opened hundreds of stores in cities in the third and below cities with its cost -effective attributes, Hi Lao is fully capable of copying this path and open imagination in the sinking market.
The most valuable point of the entire self -rescue process of the restoration of Haidilao is also the key point that the company can turn around the wind today is that it is practical and down -to -earth.This may be related to the experience of Yang Lijuans grass -roots level. The management has not announced any grand words from beginning to end. Instead, it has established a general direction, long plan, short arrangement, and dynamically adjusted at any time according to the situation needs, liberating humanity, adapting to the law, and respecting common sense.
Thats it.
Disclaimer
Personal analysis and judgment made by publicly disclosed information (including but not limited to temporary announcements, regular reports and official interactive platforms, etc.); information or opinions in the article not constitute any investment or other commercial suggestions, and market value observation is not for adopting this article.Any action to bear any responsibility.
