Saturday , April 17 2021

Since selling vinegar, I went to the restaurant chain for millions of dollars

Mr. Tanaka has borrowed money to open a sushi restaurant with a modern conveyor belt. (Source: Bloomberg)

Mr. Tanaka has borrowed money to open a sushi restaurant with a modern conveyor belt. (Source: Bloomberg)

In the 1970s, sushi dishes really exploded. But Mr. Tanaka thinks there are serious deficiencies in the way it works. All the cooks that own the restaurant have a poor quality control. They charge different prices to different people alike the same food, and prices are always expensive, except when there are discounts on special occasions.

Therefore, Tanaka decided to open his own sushi restaurant. But he did the opposite. With about $ 26,000 loaned, he opened his first restaurant in 1977, which later founded the Kura Sushi restaurant chain in 1995.

The company has invested a number of modern technologies to bring sushi to more people. Today, Kura is Japan's second-largest chain of sushi restaurants. It has a market value of about 1.7 billion dollars and hundreds of stores nationwide.

"I think the sushi carousel will make sushi always grow with the story it inherits. And it was right," said Tanaka in an interview at the company's headquarters in the rural Osaka.

The sushi here is cheap, mostly around 108 yen (more than 22,000 dong), a price that has remained virtually unchanged for the last three decades, even when many of the competitors in the chain This is gradually increasing.

Explaining this, Tanaka said that he kept the price low because he controlled the costs closely, even by automating the cleaning process. Therefore, the company does not need to hire more waiters or cleaning products.

According to some newspapers, the chain of restaurants Kura owns 31 patents for inventions created in the development of exclusive systems of restaurants.

Kura currently has more than 420 stores throughout Japan, with 19 restaurants in the United States and 15 in Taiwan. The group's actions have outperformed the quadruple since the beginning of 2014, reaching a May registry before finishing the wider market.

Kunihiko Tanaka, president of Kura Corp. (Source: Getty Images)

Kunihiko Tanaka, president of Kura Corp. (Source: Getty Images)

Mr. Tanaka said he had a great dream when he grew up in western Japan. While the country followed the aftermath of the war, their parents worked to sell the goods to feed their families. Tanaka did not care much about the study, so he worked in a vinegar company after finishing school.

He recalled loans about 3 million yen at the start of the company after their sushi restaurants showed that the business model had to change.

Today, the chain of restaurants Kura represents 20% of the sushi market carved in Japan, according to CLSA Ltd. He was second only to Sushiro Global Holdings Ltd. accounted for 26% market share.

But while the national industry grew rapidly, commentators argue that making the corporation increasingly mature poses more challenges.

So, Tanaka said that Kura does not look at M & A's domestic agreements. Instead, he focuses on overseas growth, betting that Kura's free food supplement will be available globally in a growing consumer tendency towards healthy eating.

The company hopes to add at least 10 restaurants in the US. UU. And Taiwan every year and to the EE. UU. At the beginning of 2020. He plans to bring Kura to Europe and will also include actions in Taiwan. Loan.

Time will tell if it is successful in these plans, but what happened, Tanaka has come a long way since he was a vinegar man. At the current price, the family fees of Kura are worth hundreds of millions of dollars. But you're still not satisfied with your success today.

"I'm not successful, I'm very far away. Everything is starting now," he said when asked if he had still achieved his dream.

Hong Van
Theo Bloomberg

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