量贩零食大洗牌：上市潮背后加盟商苦撑，头部爆赚与门店关停博弈

Group 1 - The snack retail industry in China is experiencing significant growth, with major players like "Mingming Very Busy" and "Wancheng Group" expanding rapidly through listings and store openings [1][4] - The initial success of many franchisees was driven by low rental costs and substantial sales, leading to a rapid increase in store numbers, particularly in smaller towns [6][7] - However, the market has become saturated, resulting in intense competition and price wars, which have significantly reduced profit margins for franchisees [6][7] Group 2 - Many franchise owners are now facing financial pressure, with operational costs rising and the time to break even extending from 1.5 years to 2-3 years [7][9] - Brands are shifting focus from merely opening new stores to enhancing operational details and product upgrades, including the development of private labels and diversification into other product categories [9][10] - The snack retail market, while appearing vibrant, is undergoing a transformation towards differentiation and refined operations, necessitating careful consideration from franchisees regarding their capacity to endure market challenges [12]