Chapter 568 – Entering the F&B industry
Feng Yu’s direct and straightforward words had left a deep impression with Deputy Mayor Liu and Zhang Han’s father. Zhang Han’s father even wondered if Feng Yu had developed his businesses in the manner in the past.
Zhang Han’s father would never know that Feng Yu hated business negotiations the most. To shorten the negotiation process, he would offer conditions that the other party could not resist. What matter the most to Feng Yu was the efficiency.
With the conditions offered, Deputy Mayor Liu agreed readily. He was the head, and once he decided, there were no more issues. Feng Yu believed that Deputy Mayor Liu will help him settle all the minor problems.
The next day, Feng Yu received a call from Deputy Mayor Liu. The City Government agrees to let Feng Yu invest in Quanjude on one condition. Feng Yu had to use restaurants to invest!
This was what happened in Feng Yu’s previous life. This was not an issue for Feng Yu. Anyway, Feng Yu had to return to Hong Kong to prepare for his exams. He could just buy some restaurants there.
……
“What did you say? You want to buy restaurants?” Fu Guangzheng was summoned back to Hong Kong. He thought Feng Yu had some excellent investment opportunities for him. But restaurants?
“That’s right. Hong Kong, Macau, Taiwan, Malaysia, Singapore and even New York. I want to buy some restaurants in these places. The restaurants must be big, at good locations with high traffic and must be some popular restaurants.”
“Why are you buying so many restaurants? You want to set up a restaurant chain?” Fu Guangzheng lit a cigar and blew out a smoke ring.
Feng Yu smiled and asked him back: “What’s wrong with that?”
“Is this a joke?”
“Do I look like I am joking?” Feng Yu asked. Why can’t I set up a restaurant chain? F&B business can generate high profits and is stable. Most importantly, I am able to use Quanjude’s brand.
“But you also do not need to set up so many restaurants at once. Do you think others will sell their restaurants that fit the requirements you mentioned? Even if they are willing to sell, the prices will also be sky-high!” Fu Guangzheng shook his head. If you are opening a restaurant for fun, then just open one restaurant. Is there a need to set up so many at once?
F&B was a good business. But if you do not have good chefs and specialty dishes, how would you attract customers? If your food was delicious, customers will even wait for hours to eat your food and does not mind the bad services.
You want to buy out existing restaurants? Why would they sell their restaurants? Yes, they might be able to receive a lump sum of money from the sales of their restaurant, but this sum will run out sooner or later. With a restaurant around, they would still have money going into their pocket every month. This was like exchanging a goose that lays golden eggs with a golden goose!
“If the restaurants are too expensive, then pick a good location to set up new restaurants. Poach the experience chefs from other restaurants. I need to make it clear that I want to sell Chinese Cuisine.”
“Do you have a specialty dish? Without a specialty, how are you going to set up a restaurant chain?”
“My restaurant specialty will be Beijing roast duck. Quanjude roast ducks!”
“What? Quanjude roast ducks?”
“That’s right. You had also tried their roast ducks before. Don’t you think their ducks taste good?”
“But you are also unable to replicate the same taste. Don’t tell me that you have already poached their chefs? The Chef that know their secret recipe?
“I did not poach them. But I can invest in Quanjude!”
Fu Guangzheng was disappointed when he heard the first sentence. But when he listened to the second sentence, his eyes brighten up with excitement.
“You are going to invest in Quanjude? Can I invest too? I don’t mind the proportion of shares. Just count me in.” A specialty dish can bring a restaurant to greater heights. Let alone, Quanjude was a traditional restaurant with over a 100 years history. Even Mr. Deng goes to this restaurant to entertain foreign delegates. Just this fact alone would be sufficient to attract lots of customers.
Also, Feng Yu will be investing and what’s there to be afraid of? Just invest in whatever Feng Yu invest, and there will undoubtedly be profits!
Fu Guangzheng’s father had used his money to invest in Gold futures, and gold prices had been raising. It had increased to about 380 USD and stopped for one or two days. But after that, it continued to grow slowly.
Fu Guangzheng had made profits from the Gold futures and was still looking for excellent investment opportunities. Investing in F&B business with Feng Yu seems to be an excellent opportunity. The returns should be higher than other investments in Hong Kong.
Feng Yu waved his hand: “Why not? But first, you need to help me buy out some restaurants so I can use these restaurants to negotiate with them.”
Fu Guangzheng frowned: “Buying out restaurants will be an issue. Why can’t we set up restaurant chains in China? For example, Jinlin, Xian, Shanghai, Guangdong, etc. We have factories and companies in these places, and we are familiar there too.”
“We will set up branches in China. But Hong Kong, Taiwan, etc. is more important. I had promised to expand Quanjude’s brand overseas. In China, some companies had already contacted Quanjude. We will not be at an advantage if we only focus in China.”
This was what Jiang Xianjun told Feng Yu. That’s the reason why Feng Yu wants to settle this as soon as possible. If not, it will be like what happened in his previous life. Quanjude will work with other companies. Even if Feng Yu successfully bought a stake in Quanjude later, his proportion of shares will be lowered.
Feng Yu’s advantage was he could bring Quanjude’s brand overseas. This was not the other F&B companies which approached Jiang Xianjun could do.
If Feng Yu could not meet this expectation, Quanjude will not trust him, and all his efforts will be wasted.
“Then our investment will be quite high. We might not even see the returns after 1 or 2 years.” Fu Guangheng frowned.
“But once Quanjude was listed, the share prices will surely shoot up. Because this is an established 100 years old brand. It is worth a few billion!” Feng Yu knocked on the desk and said confidently.
“That’s right. We can still list this company. But I am not familiar with the F&B industry. I don’t think I can help you manage the company.” Fu Guangzheng said honestly.
“No need. You just need to help me buy some good restaurants. You can make use of your Fu Family’s reputation if necessary. If you are unable to help, then I will have to look for Li Family’s young master. I think he should have no problem.”
“Who says I am unable to help? If our Fu Family join hands, we are stronger than the Li Family! I am able to settle this, and you do not need to look for Li Zekai. It’s just buying a few restaurants around Southeast Asia. Just leave this to me.” Li Guangzheng was furious when he was compared to the Li Familly.
Furthermore, if Feng Yu looked for Li Zekai, then he will be out of this game. The profits from the F&B business was too lucrative for him to give up.
“Then I shall wait for your call.”