海底捞下乡，“地头蛇”引路

Core Viewpoint - Haidilao's cautious approach to franchise expansion aims to penetrate lower-tier cities while maintaining brand control and operational consistency through a "strong management" strategy [2][10][12]. Summary by Sections Franchise Strategy - Haidilao opened its franchise model in March 2024, receiving over 20,000 applications but only establishing 13 franchise stores, primarily converting existing locations [1][2]. - The franchise strategy focuses on attracting "mysterious franchisees" with significant resources and local connections, particularly in third-tier cities [2][4]. Franchisee Characteristics - The franchisees are categorized into four types: professional franchisees, property owners, industry transitioners, and institutional investors, all possessing substantial financial backing and local market knowledge [6][5]. - The franchise application process includes rigorous online evaluations and multiple interview rounds to ensure alignment with Haidilao's values and operational standards [6][7]. Operational Control - Haidilao employs a "strong management" model, requiring franchisees to purchase existing stores and adhere strictly to corporate guidelines, ensuring consistency with the brand's operational standards [10][12]. - This model allows franchisees to leverage existing customer bases and operational frameworks, facilitating quicker market entry and brand establishment [10][11]. Market Dynamics - The franchise model is part of a broader trend in the hot pot market, with significant growth in lower-tier cities, where the number of hot pot restaurants has increased by 18% year-on-year [4][19]. - Haidilao's strategy contrasts with other brands that allow greater operational autonomy, positioning itself as a more controlled franchise model [14][15]. Future Prospects - Haidilao aims to expand its franchise operations further, with plans to eventually apply the franchise model to its sub-brands, enhancing overall market presence [18][19]. - The company is currently focused on processing the influx of franchise applications and establishing a robust operational framework to support future growth [18][19].