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Panda Express Franchise Cost & Opportunities Sample

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Panda Express is everyplace. The lightning aggressive concatenation of American Chinese culinary art has mercantile establishments in casinos. shopping promenades.

supermarkets. airdromes. train Stationss. subject Parkss.

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bowls. college campuses. even the Pentagon. It has rapidly become the largest concatenation of Chinese fast nutrient eating houses in the state.

with 1. 321 locations in 38 provinces and Puerto Rico. and in 2004 the company began opening stand-alone eating houses. excessively.

with drive-through Windowss. With delicious dishes like Orange Chicken. Beijing Beef. Kung Pao Chicken and a regulation of no added MSG.

Panda Express is a trade name that sells easy.Industry: Fast Food Franchises.Panda Express InfoPanda Express StatsPanda Express Franchise Opportunities – InformationBusiness people interested in having and runing a fast-paced. friendly eating house with faithfully delectable Chinese nutrient would make good to see a Panda Express franchise.

Panda Restaurant Group besides owns Panda Inn eating houses. and Hibachi-San.

Panda Express Franchise Opportunities – History

The Panda Restaurant Group. which owns Panda Express.

was founded by Andrew and Peggy Cherng.

and Andrew’s male parent. Master Chef Ming Tsai Cherng. who opened their first Panda Inn eating house in 1973 in Pasadena.

California. When they were invited to open a fast-food version of Panda Inn for the Glendale Galleria. Panda Express was born and has steadily spread across the United States since. and even opened two eating houses in Japan.

which have since closed. Among its three eating houses. the Panda Restaurant Group. for which Andrew Cherng still serves as co-CEO.

brings in one-year gross revenues of more than $ 1 billion and has more than 13. 000 employees company-wide.Panda Express Franchise Cost / Initial Investment / Panda Express Franchise IncomeAn investing of $ 125. 000 is required to open a Panda Express franchise.

Training and support is available through the parent company. the Panda Restaurant Group.Panda Express Business Opportunities: Other InformationAndrew and Peggy Cherng are good known for their philanthropic gift in and around the Los Angeles country. In 2008.

the twosome received the City of Angels Award. The Panda Express concatenation was featured on ABC News Nightline in 2011. discoursing Andrew Cherng’s attack to life and encouragement of his employees partake in motivational plans.

Corporate Overview

The privately-held Panda Restaurant Group.

Inc. ( PRG ) is the largest and fastest turning Asiatic eating house company in the state. Today. under the leading of Founder and Chairman Andrew Cherng and his married woman.

Co-Chair Peggy Cherng. PhD. PRG operates three constructs – Panda Inn. Panda Express and Hibachi-San – numbering over 1.

500 units. with close to 20. 000 associates in 42 provinces and Puerto Rico. Same store gross revenues.

the industry’s benchmark measuring of growing. hold increased consecutively for 13 old ages from 1996 to 2008 with gross transcending $ 1. 5 Billion in 2011.Andrew and his male parent.

Master Chef Ming-Tsai Cherng. established the first Panda Inn eating house in 1973 in Pasadena. CA to function epicure Mandarin and Szechwan culinary art in an upscale. casual-dining ambiance.

They rapidly won a loyal following with such original dishes as Tea Smoked Duck. Honey Walnut Shrimp and Lotus Leaf Rice. That provided the springboard and the inspiration for the launch of Panda Express in 1983. carry throughing Andrew’s vision of a alone eating house that combined the gourmet culinary art of Panda Inn with a fast-casual format.

The first Panda Express opened in the Glendale Galleria in Glendale. CA.Panda Express is the growing engine of PRG. designed for people who welcome the exciting gustatory sensations of Chinese nutrient.

Each Panda Express is designed with its full-service roots in head. From granite table tops. to vivacious colourss and cultural decor. Panda Express eating houses reflect the company’s sturdy passion for conveying quality Chinese nutrient to vicinities across the United States.

At the nucleus of Panda Express’ values is its committedness to Guest satisfaction. Panda Express and its associates promise to stimulate invitees with signature dishes such as Orange Chicken and Honey Walnut Shrimp. to edifying Guests through cultural jubilations such as Chinese New Year and to care for its Guests through gracious cordial reception and community engagement.Leveraging its operations expertness and wealth of cognition about Asiatic culinary art.

PRG introduced Hibachi-San in 1992. a mall-based quick-service eating house having a assortment of Nipponese grill and bowl main courses.Panda’s mission is to present exceeding Asiatic dining experiences by constructing an organisation where people are inspired to better their lives. The company has put people at the head of its success.

puting in countless tools for professional promotion every bit good as personal growing. The company’s important enlargement programs mean alone chances for those with a passion for Panda.While versatile in non-traditional locales such as promenades. airdromes and amusement Parkss.

the bulk of Panda’s portfolio consists of street locations. Panda continues to sharply speed up its development concentrating on end-caps. free standing edifices and drive-thru constructs. In 1997.

Panda opened its first drive-thru eating house in Hesperia. Calif. . paving the manner to over 400 drive-thru units today.

PRG is profoundly committed to the communities it serves with contributions to countless non-profit organisations. Panda Cares is the company’s community engagement enterprise. supplying nutrient. support and voluntary services to organisations profiting kids and catastrophe alleviation attempts.

PRG’s company values are being proactive. respect/win-win. growing. great operations and giving.

Panda is committed to presenting on this committedness to each Guest. Associate and spouse. Company Perspectives:Every twelvemonth. Panda makes it a mission to concentrate on one really of import facet of our formula for success.

Whether the limelight is on nutrient excellence. outstanding service or enhanced teamwork. each Panda employee becomes dedicated in a particular manner to doing that concentrate a precedence during the twelvemonth. … We at Panda genuinely believe that the quality of service that we provide to our clients each and every twenty-four hours forms the links that hold our concern together.

We are dedicated to making everything in our power to present no less than exceeding client service to every client every twenty-four hours.

Company History:

Panda Management Company. Inc. ( PMC ) .

based in Southern California. has grown dynamically of all time since 1983 when it opened its first Panda Express. its most successful operation. As that name suggests.

Panda Express units are fast-service Chinese eating houses. now found in over 34 provinces. the District of Columbia. Puerto Rico.

and Japan. Altogether. PMC manages over 300 Panda Express Restaurants. six Panda Inn Restaurants.

eight Hibachi-San Restaurants. and seven Panda Panda locations. Panda Inns. the first of which opened in 1973.

are all located in Southern California. as are the Panda Pandas. upscale. epicure Chinese nutrient eating houses.

The Hibachi-San Restaurants. having Nipponese culinary art. are located in shopping promenade nutrient tribunals. about half of which are at choice sites outside California.

The much more omnipresent Panda Express Restaurants are located in five basic runing environments: promenade nutrient tribunals ; supermarkets and retail ironss ; shopping centres and cardinal intersections ; university and college campuses ; and airdromes. casinos. and athleticss spheres.Their cardinal market focal point is the client in the 18 to 34 age bracket.

the upwardly-mobile section of the working population most likely to accommodate to a nouveau. fast-food culinary art. In contrast to the Panda Express units. Panda Inn.

Panda Panda. and Hibachi-San eating houses are full-service eating houses. In association with EATertainment International. the company has besides ventured into speedy service Cajun nutrient with Orleans Express.

However. it is the enormous success of the Panda Express concatenation that fuels PMC’s speed uping enlargement. Its aggressive programs called for the gap of from 70 to 80 new units in 2000 entirely. including an increasing figure of street-level.

stand-alone. drive-in units. doing them more competitory in a market dominated by beefburger. fried poulet.

and Mexican nutrient ironss. None of the eating houses operated by Panda Management is franchised ; all are owned by laminitis Andrew Cherng and his married woman. Peggy.1973-82: Initiation and Development of Panda’s Full-Service RestaurantsAndrew J.

C. Cherng and his male parent. maestro Chinese chef Ming-Tsai Cherng. founded what would germinate into Panda Management when.

in 1973. they opened the first of seven Panda Inns. full-service eating houses located in Southern California. The initial site was in Pasadena.

a suburb of Los Angeles. one of America’s great cultural runing pots. The Cherngs had migrated to the United States from Japan in the sixtiess after first acquiring at that place from their native China by manner of Hong Kong and Taipei. and their constitution was one of the first in the country to modify reliable Mandarin and Szechwan dishes to complement the area’s Oriental culinary art.

Initially. the Cherngs were determined to spread out in the full-service Chinese eating house market. a tough concern in California. thanks to its big Asian-American population.

Although the new company was able to open extra full service eating houses. the younger Cherng shortly saw that fast nutrient. drive-thru eating houses were a national fad in the United States. He besides realized that Southern California offered an first-class market for experimenting with an Oriental nutrient version of that sort of operation.

Consequently. he set out to spread out into the speedy service eating house field.1983-91: Company Steadily Expands with Its Panda Express ChainIn 1983. Cherng launched Panda Express.

opening the first unit in a promenade in Glendale. California. It proved to be a really successful beginning for what would go PMC’s main concatenation. Because the Panda Express was one of the few quick-service eating houses to germinate from a full-service construct and because it introduced a new nutrient to that market.

it found a good market niche. shut to a wide-open field. in fact. It joined reliable Mandarin culinary art to a sector historically dominated by beefburgers and fried poulet.

Panda Express sent the company into a growing rhythm that by the twelvemonth 2000 had non abated.The Panda Express mercantile establishments. depending on location. varied in size.

guaranting some flexibleness. Like the first. the early units were normally located in shopping promenades. but finally they spread into other musca volitanss where possible clients were to be found.

sites where people were on the move: into strip centres. airdromes. and universities. for illustration.

Get downing in 1988. they were besides placed in food market shops when the Cherngs placed a Panda Express in a Vons supermarket.The dishes featured at the assorted Panda eating houses originated in three parts of China: Canton. Beijing.

and Szechwan. Although less inclusive. the dishes at the Panda Expresses were the same as those served at the original Panda Inns and were prepared on the site of each unit. even the smallest 1s.

Because few grants were made to expediency. the nutrient quality remained high and rapidly won the new concatenation a loyal client base.Their success led to the company’s concentration on spread outing its new concatenation. foremost in its place base of Southern California.

so eastwardly. to the Western provinces of Nevada. Arizona. Colorado.

and Utah and finally to the East Coast. where it would run into stiffer competition from a rival concatenation. Toronto-based Manchu Wok. which was already good established East of the Mississippi River.

1992-2000: Accelerated Expansion and New DirectionsBy the terminal of 1992. the Panda Express concatenation numbered merely over 50 units. Market indexs were really strong. promoting rapid enlargement.

Notably. the National Restaurant Association issued a study bespeaking that between 1987 and 1990 there was a 31. 5 per centum addition in the Asiatic section of the fast-food concern. Overall.

Asiatic eating house gross revenues in the United States rose from $ 7. 5 billion in 1990 to $ 8. 3 billion by August of 1995.Panda Management responded the market rush with really speedy growing.

By April of 1994. it was runing 125 units in 21 provinces. Washington. D.

C. . and Japan. Sixty of these were financed by money generated internally from gross revenues that in 1993 had reached $ 100 million and $ 112 million by May of the following twelvemonth.

By that clip. Panda Express was running cervix and cervix with Manchu Wok. which. with far more units.

was merely maintaining even in gross revenues. By 1993 it had even fallen far behind Panda Express in the figure of its new gaps. though it was still the dominate express Chinese nutrient concatenation in the eastern portion of the United States.One thing lending to the rapid addition in the figure of Panda Express units was the chain’s versatility.

Its five different footmarks. runing from 400 to 2. 000 square pess. allowed it to happen unit sites in a broad assortment of topographic points and to set size to gross revenues that in 1994 ranged from $ 350.

000 to more than $ 1. 5 million per unit.In 1994. in portion to assist do its enlargement and variegation programs go swimmingly.

Panda revamped its upper direction squad. In January of that twelvemonth. it recruited and hired Joseph Micatrotto as president and head runing officer. Although Andrew Cherng remained president and CEO.

he gave Micatrotto considerable latitude in mapping out new waies for the company. Micatrotto. who grew up in a ‘little Italy neighborhood’ of Cleveland. came to Panda from a 14-year calling at Chi-Chi’s.

a Louisville. Kentucky-based concatenation of Mexican eating houses. The company besides hired Russell Bendel as senior vice-president of operations. He joined Panda after vacating his station as COO at El Torito.

another concatenation of Mexican eating houses based in Irvine. California. Although neither Micatrotto nor Bendel had cognition of Oriental culinary art. they had the managerial.

organisational. and leading accomplishments that PMC needed.At the clip Micatrotto took the reins as president. PMC already had an enviable history of minority employment.

About 45 per centum of the workers were Hispanic and 40 per centum Asian. As portion of his plan. Micatrotto scheduled ‘cultural diversity’ tiffins. sensitiveness preparation experiences through which workers developed their consciousness of their diverse civilizations.

Sing that the huge bulk of Panda Express clients were non-Asian in their heritage. that plan had a solid footing.Although Micatrotto resigned the presidential term of Panda Management in 1996. releasing it to Peggy Cherng.

one of the things that he had recommended was an addition in the figure of street-level. freestanding shops offering dine-in. drive-through. and carry-out services.

By the terminal of 1998 these accounted for merely about 80 Panda Express units. most of which were located in promenades and other. less traditional topographic points. By adding more stand-alone units.

the company sought to offer stiffer competition to such fast-food giants as MacDonald’s and Taco Bell every bit good as traditional Chinese eating houses.In the 1990s. Panda Management besides took stairss to increase the per centum of takeaway orders. In 1995.

its 173 Panda Express units were averaging merely a 30 per centum volume in take-out gross revenues. considered instead low for limited service Chinese nutrient eating houses. In add-on to a ‘Flavors of China’ run. emphasizing Panda’s reliable regional nutrients.

it promoted a place repast replacing household dinner having two main courses. rice or Zhou mein. and appetisers for $ 12. 99.

Besides. to better its efficiency.1973: Company is established by Andrew and Ming-Tsai Cherng with gap of first Panda Inn.1983: First Panda Express is opened.

1988: PMC puts first mercantile establishment in Vons supermarket.1994: Company hires Joseph Micatrotto as president and head runing officer.1995: Micatrotto becomes CEO.1996: Micatrotto resigns.

and Peggy Cherng assumes presidential term.1999: Company opens 300th Panda Express.By the mid 1990s. Panda Management had begun perpetrating more of its gross to its advertisement budget.

which. until so. had been really little. Although it continued to utilize direct mailings.

as it did in its 1995 ‘Flavors of China’ run. it began running ads in print and on wireless. with the latter as its chief media scheme. It besides started carry oning focal point group Sessionss.

utilizing questionnaires and ratings of the quality of its nutrients. but it was non until 1999 that it produced its first block of telecasting ads. These were ab initio limited to the Las Vegas country. where.

in a comparatively new market for the company. it had 19 Panda Express units. At that clip. Peggy Cherng said that the run was a trial of the medium’s ability to bolster gross revenues and ‘the commercials’ ability to present the trade name message.

’Authenticity in Chinese cookery has non been easy for PMC to keep. particularly since some grants had to be made to American gustatory sensations and penchant for speedy service. Simply put. the fast-food format required a sort of beguiling act between quality and velocity.

Among other things. reflecting wellness witting tendencies in the United States. Panda Express eating houses used no MSG in any of their nutrients. Basically.

in order to continue the genuineness of their dishes. they besides kept recipe alterations to a lower limit. utilizing merely minor accommodations to accommodate the American palette. For illustration.

they cut back on the spice degrees in their array of Szechwan dishes. doing them much milder than they would be in Asia. Most significantly. even as the concatenation entered its period of explosive growing in the 1990s.

its eating houses continued to fix their nutrients from abrasion. keeping what Micatrotto called ‘a quick service environment with a full-service kitchen. ’In 1998. observing its twenty-fifth day of remembrance.

Panda Management redesigned and reopened its flagship Pasadena Panda Inn. the first of its eating houses. The redevelopment was in a manner symbolic. reflecting the company’s desire to continue tradition even as it ventured into new culinary and geographic countries.

Although the eating house was one of the first to function nutrients from diverse Chinese states. its kitchen besides produced several original dishes. including Tea Smoked Duck. Creamy Mustard Shrimp.

Lotus Leaf. and Sizzling Crispy Garlic Chicken.Throughout its history. Panda Management has worked diligently to play a important.

good neighbour function in its host communities. Under the rubric ‘Panda Cares. ’ it has been involved in many enterprises undertaken to better the quality of life for kids in those communities. In add-on to parts of money.

the company has urged its employees to volunteer their clip and labour. leting them to originate their ain Panda Cares events that include repasts donated by Panda Express. The plan has both enhanced Panda’s image. making solid good will.

and bolstered the morale of its employees. An illustration of PMC’s committedness occurred in February. 1999. when.

in Las Vegas. it opened its three-hundredth eating house with a gala jubilation. PMC donated 20 per centum of its opening twenty-four hours net income to the Candlelighters for Childhood Cancer of Southern Nevada.Prospects for continued growing for PMC’s Panda Express concatenation remained really good at the century’s near.

The concatenation was steadfastly established. had an first-class repute. and enjoyed a turning trade name consciousness. It besides had hardly begun to saturate its markets outside Southern California.

Cite this Panda Express Franchise Cost & Opportunities Sample

Panda Express Franchise Cost & Opportunities Sample. (2017, Aug 10). Retrieved from https://graduateway.com/panda-express-franchise-cost-opportunities-essay-sample-essay/

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