近日，呷哺呷哺宣布"凤还巢"计划正式启动，面向内部优秀员工开放新店合伙人通道。根据呷哺方面公 布的数据，首批21位合伙人已完成签约，5家合伙门店投入运营。这些合伙人多数来自呷哺呷哺全国各 区域的运营经理、店长等核心岗位人员。 "连锁火锅第一股"呷哺呷哺开始推行内部合伙制，在业内看来，是当前最适合呷哺重拾增长的方案：它 以可控成本绑定人才、稳定军心，并为精细化运营提供组织基础。有业内专家认为，从呷哺呷哺门店体 量、目前提出的每年新增50至100家合伙人店的增速来看，均在较为合理的范围。如果在品控、分红机 制等方面执行得当，将有望推动主品牌门店扩张速度。 餐饮行业从直营向合伙与加盟转变 从今年年初开始，呷哺集团股价一直徘徊在1港元以内。4月，呷哺集团股价跌破1港元，市值不足10亿 港元，与2021年最高点相比已跌去96%。 7月16日，呷哺集团旗下呷哺呷哺正式宣布推出"凤还巢"合伙人计划。业内认为，作为"火锅第一股"的 呷哺之所以作出这样的选择，与火锅行业正进入存量竞争阶段有关。根据红餐研究院发布的《火锅上新 趋势洞察报告2025》，2024年，全国火锅市场规模达到6175亿元，同比增长5.6%，但增速较2023 ...

Core Insights - Major hot pot brands are actively expanding their business models, with Haidilao continuing to incubate sub-brands and Banu submitting an IPO application to become the "third hot pot stock" [1] - Xiaobuxiang, the "first hot pot stock," has launched the "Feng Huan Chao" partner program aimed at outstanding internal employees and industry talents, with plans to open 50 to 100 new partner stores annually [1][2] Company Initiatives - The "Feng Huan Chao" partner program incentivizes frontline employees who contribute significantly to store growth, allowing them to share in store profits through a partnership model [1][2] - The first batch of 21 partners has signed contracts, with 5 partner stores already operational [1] - Xiaobuxiang will provide comprehensive support to partners, including brand authorization, supply chain assurance, and management standards, ensuring consistency in brand image and service quality [2] Industry Trends - The trend of opening franchise and partnership models is growing among leading restaurant brands, with Haidilao and Jiumaojiu also adopting similar strategies [3] - The increasing chain rate in China's restaurant industry, along with improved brand management and supply chain standardization, is driving the shift from direct operation to franchise models [3] - The internal partnership model is becoming popular, transforming employees from traditional roles into partners who share risks and profits, enhancing their engagement and performance [3]