塔斯汀关店，加盟商为疯狂扩张买单

Core Insights - Tasting, a rapidly expanding Chinese hamburger brand, is facing challenges with a high rate of store closures despite reaching over 10,000 locations [1][4][10] Group 1: Store Expansion and Closure Dynamics - Tasting opened 968 new stores and closed 907 in the past 90 days, resulting in approximately 10,296 operating stores [1] - Compared to established brands like Wallace and KFC, Tasting has a significantly higher closure rate, indicating potential instability in its expansion strategy [1][10] - The rapid expansion of Tasting, which reached 10,000 stores in just 13 years, was faster than Wallace and KFC, which took 18 and 36 years respectively [7][9] Group 2: Franchise and Market Challenges - The high closure rate may be attributed to over-saturation in certain areas, leading to poor performance and unsustainable operations for many franchisees [3][5] - Tasting's aggressive entry into first-tier cities has resulted in fierce competition with established brands, which may have better consumer acceptance and promotional strategies [5][10] - The average payback period for franchisees has extended to around two years, indicating a decline in profitability opportunities [12] Group 3: Strategic Implications and Future Outlook - Despite closures, Tasting continues to seek new franchisees, particularly in key regions like Beijing and Shanghai, suggesting ongoing expansion plans [10] - The brand's management may be strategically closing underperforming stores to optimize franchise quality and improve overall brand performance [14] - Tasting's future growth will depend on its ability to attract quality franchisees and effectively communicate its value proposition to potential investors [10][14]