80后福建老板6年狂开万店，“县城汉堡”还要冲上市？

Core Insights - Tasting has officially surpassed 10,000 stores, becoming the second Chinese burger brand to join the "10,000 store club" after Wallace, with a total of 10,160 stores as of October 13, 2025 [1][3] - The rapid expansion of Tasting, which started in 2019, has seen a significant increase in new store openings, with 3,772 new stores in 2023, although the pace is expected to slow down in 2024 [1][3][7] - Tasting's business model relies heavily on franchising, which has raised concerns about maintaining service quality and profitability among franchisees [2][9] Store Expansion - Tasting's store count reached 10,160 across 27 provinces and 287 cities by October 2025, with a notable increase in new openings from 447 in 2021 to 3,772 in 2023 [1][3][7] - The company plans to increase the franchise fee from 369,800 yuan to 452,300 yuan starting in 2024, while also raising the requirements for new franchisees [4][9] - Despite a slowdown in new store openings, Tasting's growth rate remains higher than that of established competitors like McDonald's and KFC, which took 38 and 35 years, respectively, to reach similar store counts [7][8] Financial Performance - Tasting is projected to achieve revenues of 5 billion yuan in 2023, supported by franchise fees and management fees from franchisees [3][9] - The company has undergone significant ownership changes, with a new Hong Kong entity taking full control, which may be related to plans for an IPO [9] Market Competition - Tasting's competitive edge, characterized by its affordable pricing and focus on lower-tier markets, is being challenged by major players like KFC and McDonald's, which are also targeting these markets with aggressive pricing strategies [10] - The introduction of a "9.9 yuan era" in the fast-food industry has diminished Tasting's previous pricing advantages, necessitating a reevaluation of its market strategy [10] - Franchisees are facing increasing operational pressures due to heightened competition and the recent surge in delivery service subsidies, which have further strained profitability [10]