Ep 126: Becoming a premium restaurant chain in China [The F&B industry in China]

1:17:06
 
Share
 

Manage episode 297812728 series 2886189
By China Paradigm - China Business Podcast and Daxue Consulting. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Since its founding in 2001, Element Fresh has been a beacon of fresh and healthy western food in China’s most bustling cities. The Founder and President, Scott Minoie has been in China for 22 years and has accumulated over 30 years’ experience in the food and beverage industry. He is also co-Founder and COO of Planet O, a location-based mixed virtual reality and social experience hub. Moreover, Scott is the co-chair of AmCham Shanghai's Food, Agriculture, and Beverage committee. Let’s turn to the interview and see what Scott has to share! 00:00 – Scott Minoie’s introduction and background 05:21 – How did Element Fresh Start? From sandwich making in a friend’s bedroom to a premium restaurant chain in China. 07:31 – Element Fresh concept was created accidentally. Cross-industry is a clever way to find your niche. 10:52 – The two big steps that lead Scott Minoie to take Element Fresh seriously 13:27 – Where did the initial investments go to? 14:45 – How did Element Fresh make it through the SARS pandemic in 2003? 17:30 – What was the impact of Covid-19 on Element Fresh? How was it different from the SARS outbreak? 21:53 – How many months did Element Fresh need to be cash-flow positive and break-even? 21:51 – What was Scott Minoie’s vision after raising 250,000 USD and having a clear business plan? 29:04 – When did Element Fresh start to receive Chinese consumers? 31:11 – How does Scott Minoie ensure the safety, quality and consistency of the delivered products? 35:55 – How was the process of setting up the 2nd restaurant? Was it harder than setting up the 1st restaurant? 40:00 – How did Scott Minoie convince Frank Rasche (Coca-Cola’s operation director for mainland China and Coca-Cola’s general manager in Taiwan) to join the team? 46:40 – How did Scott Minoie raise the second round of financing? 48:35 – What was the growth model of Element Fresh? 50:49 – How did Element Fresh innovate to keep up with the different evolutions taking place in China at that time? 56:20 – Element Fresh’s marketing innovation: collaborations and customer loyalty program 1:03:00 – What did the partnership with LiNa (李娜) bring to Element Fresh? 1:04:00 – How does Scott Minoie innovate the menu and come up with new recipes and dishes? 1:10:10 – What is Planet O about? daxue consulting website: https://daxueconsulting.com/ What do you have in mind for your expansion in China? Contact us now: https://daxueconsulting.com/contact-us-now/ Listen & Subscribe: Soundcloud: https://soundcloud.com/china-paradigms-daxue Apple Podcasts: https://podcasts.apple.com/us/podcast/china-paradigms/id1450916630 Spotify: https://open.spotify.com/show/78qDpsYgQXWrkPpJyZJLtx YouTube: https://www.youtube.com/channel/UC2y6ixpQB1WIs6GMdUeoq4g?view_as=subscriber Website: https://chinaparadigm.com/ Thanks for listening! If you like what you hear, do us a favor and write a review on iTunes. What is China Paradigms Podcast? China Paradigms is the China Business Podcast for entrepreneurs and China watchers. Learn from business professionals in China on our China Paradigms. #ChinaParadigm #RestaurantChina #FoodAndBeverageChina

123 episodes