Rural base, fast food chain store. It was originally called "Country Chicken". The English abbreviation CSC is still used, but its meaning has changed from country style chicken to country style cooking, which means country original flavor cooking. At 9: 3am on September 28th, 21, Xiangcunji began to be listed on the new york Stock Exchange, becoming the first China fast food chain enterprise to be listed in the United States.

CSC International Fast Food Chain Co., Ltd. was established in Chongqing on November 23, 1996, and introduced the management mode of CSC International Company in the United States. Now, CSC has more than 1 direct-operated chain restaurants, and as the leader of healthy fast food in China, its management is to continuously ensure the best product quality and service by means of direct-operated chain, centralized production, standardized products and central distribution. With the good quality, excellent service and comfortable and elegant environment guaranteed for ten years, the rural base has a strong customer base in the fast food market and has become one of the favorite dining places for customers. It is also the best supporting project for large shopping centers and department stores. Rural base provides rich, delicious and fresh healthy diet, and becomes the first choice brand for people who pursue health and fashion, and strives to build the first brand of fast food in China with the fastest service. Rural CSC has created the best record of receiving more than 2,1 customers during peak hours in Chongqing, and has become the fastest-food brand with the highest market share in Chongqing. Adhere to the belief of success in rural areas, make progress every day, and believe that our tomorrow will be even better! Do something valuable for China catering and devote yourself to creating a better life for people!

editing this paragraph's listing in the United States

At 9: 3am EST on September 28th, 21, Country Village started to be listed on the new york Stock Exchange. Its opening price is $25, and its P/E ratio is 65.8. After the opening, the stock continued to rise. As of 9: 48 EDT, the stock reported $25.45, which was as high as 54.24% higher than the IPO price of $16.5. Previously, Xiangcunji issued 5 million ADSs in the United States (each ADS corresponds to 4 common shares), and each ADS was priced at $16.5, which was nearly 3 times oversubscribed. According to the documents provided by the village base, the founders of the company, Li Hong and his wife, jointly own 53.2 million shares of the company. Earlier, Lai Yilei, an analyst at Zheshang Securities, said that the current P/E ratio of China catering enterprises listed overseas is generally 3-4 times. Considering the China concept and the small-cap characteristics of the rural base, plus the subscription of 3 times, it should have a premium of 2~3% after listing, so it is estimated that it should be around $2 after opening. However, the 54.24% premium at the opening of the rural base surprised analysts. At this price, the market price of the shares held by Li Hong and his wife reached 333 million US dollars. Based on yesterday's median price of 6.69 US dollars against RMB, Li Hong and his wife's net worth has reached RMB 2.224 billion. Previously, on Hurun's list of China's richest restaurants, Li Hong ranked fifth with a net worth of 1 billion yuan. After listing, Li Hong and his wife surpassed Yan Qi in taoranju (1.2 billion yuan) and Yu Jiarong in Little Tail Sheep (1.3 billion yuan), ranking among the top three in China, second only to Zhang Lan in Beijing South Beauty (2.5 billion yuan) and Pan Wei in Shanghai Ajisen Lamian Noodles (3 billion yuan). Lewis, the manager of thornburg Investment Management Company, which manages $56 billion in assets, said: "The IPO of rural base reflects that the market has an optimistic attitude towards China consumers." Three years ago, two venture capitalists, Sequoia and Haina, injected 2 million dollars into the rural base. On the 28th, Shen Nanpeng, the founding and managing partner of sequoia capital china, said that the flow of people in rural areas is much larger than that in KFC in the same location, and there is also a major breakthrough in the practice of Chinese food standardization, thus having the management ability of rapid expansion. [1]

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"McDonald's in China"

Li Hong, the entrepreneurial goddess of Chongqing, has a long history of catering in China, but unfortunately the rural base

failed to produce world-class giants like KFC and McDonald's. Although many enterprises have made grandiloquence to build "McDonald's and KFC in China", more lofty aspirations have already vanished with the closure of enterprises: red sorghum was planted, Ade duck was closed, Ronghua chicken was withdrawn, and Chinese fast food staged a series of tragedies of "one after another". Now, another enterprise has raised the banner of challenge. In Chongqing, the fourth pole of China, besides the four business cards of beauty, great bar, hot pot and night scene, there is also a unique business card, which is the "village base". On November 1st, 27, Ji Yue, vice president of Sequoia Capital China, and Gong Ting, head of Haina Asia Venture Capital, signed a contract with Chongqing Rural Base, with a capital injection of US$ 2 million (about RMB 15 million). They want to make the rural base the first brand of Chinese fast food in China, and plan to package and list it overseas. The two venture capitalists do not participate in the daily operation of rural infrastructure, and their main job is to make the management of rural infrastructure more international, standardized, refined and large-scale, with the aim of becoming "McDonald's of China". The miracle of the village base is not only that. Rural base is also the fastest-food brand with the highest market share in Chongqing, creating a record of the highest customer turnover rate in a single store and receiving more than 2,8 customers during peak hours. "Where KFC and McDonald's drive, we can drive there." Only the rural base has such confidence. During peak hours, the flow of people far exceeds that of the two foreign brands. At the moment when the concept of franchise chain in Chongqing is booming and hot pot is being spread all over the country, the rural base has never joined in to collect money, never borrowed money from banks, never advertised or publicized, and has become famous. After 11 years of obscurity, it has opened 46 restaurants and successfully entered Beijing, Shanghai, Chengdu and other cities. Wal-Mart, Beijing Hualian, Jialefu, Chongqing and New Century have been invited to join in the cooperation, and Pepsi and Coca-Cola are competing for its supply. Why is the rural base so attractive?

two changes of face from "chicken" to "base"

The rural-based fast food chain company was established in 1996, and was born in Chongqing, a mountain city full of delicious food. Li Hong, the founder of Village Base (now the general manager of Village Base), is an authentic Chongqing girl. After graduating from the technical school of business college, she faced various difficulties in choosing a job. First, she worked as an educational assistant in a transportation company, TV University, and later worked in a beef noodle restaurant in California. Li Hong likes cooking since he was a child. Seeing the popularity of western-style fast food such as KFC, he also keenly felt that with the increasingly tense pace of life, the fast food industry will have a promising trend, and the chain operation is in full swing in the country, so he sprouted the idea of starting a business as a fast food chain. After some understanding and study, on November 23, 1996, Li Hong introduced the management mode and technology of CSC(country style chicken) international company in the United States, and the first country chicken (later renamed country base) fast food restaurant opened in Chongqing Qunying Square. Li Hongnian was only 24 years old at that time. "At first, it was purely crossing the river by feeling the stones." Li Hong recalled that he was not without emotion. At first, the management idea of Xiangcunji (Chicken) was to imitate the way of KFC, and adopt the way of small-scale single store operation, focusing on the children's market, and the products were mainly western-style fast food, supplemented by soup, noodles and noodles, with the price ranging from 5 to 13 yuan. At that time, the per capita consumption of KFC and McDonald's was 22 yuan, while the per capita consumption of general snack bars was only 5~8 yuan, which became a blank area of price competition. Li Hong aimed at this gap, entered the joint of the two, designed a brand-new CI system, and advocated the "healthy and happy" business philosophy to meet the market demand. There is always a long distance between ideal and reality. At the beginning of the business, because the brand has no brand influence, although the streets are crowded, few people walk into the newly decorated restaurant. After a month, the business income of thousands of dollars is not even enough for rent, and the business is terrible. Looking at more than a dozen employees in the store, listening to Mai's "Whose Tears are Flying" in the store, Li Hong's heart is like knocking over a five-flavor bottle, and the bittersweet and salty tastes are mixed. However, Li Hong, who was stubborn by nature, stuck to his teeth. The most important thing for a restaurant brand is to rely on the diners' consumption experience and word-of-mouth communication, which is the only choice to survive and gain the right to speak. Under the pressure of cruel market competition, Li Hong pays close attention to the taste of products. After a difficult period of exploration, the rural base (chicken) has gradually improved. In addition, the rural base (chicken) is sanitary and fast, the product tastes small, the restaurant is good, and the store image is small. The rural base

restaurant is avant-garde, which meets the needs of wage earners and ordinary people, and the restaurant has developed slowly. However, opening a snack bar is far from Li Hong's dream. Li Hong clearly knows that small workshop-style processing and production cannot incubate chain enterprises. Therefore, after having some experience in catering, Li Hong made up his mind to take the road of large-scale industrial production, centralized distribution and becoming bigger and stronger. The road of imitation can only follow the ass of others. How to make its own characteristics and how to break through the bottleneck has become a difficult problem for Li Hong to think hard. "Food is the most important thing for the people." Li Hong found that although foreign fast food such as KFC is crowded, it is obviously not as crowded as some street shops during the peak lunch hour. It can be seen that the inherent dietary taste of China people cannot be changed; Moreover, judging from the composition of the dining staff, children are the majority in KFC, and KFC is also filled with a happy atmosphere because of children, but street shops have no such characteristics. In the observation and comparison, Li Hong gradually got a sense of modern fast food, understood the cultural connotation of foreign fast food, and found the shortcomings of foreign fast food. Li Hong came to a conclusion that the appeal of foreign fast food lies in its fashionable brand influence and happy and hygienic dining environment, but in terms of satisfying the taste of China population, foreign fast food is obviously not as attractive as Chinese food. Finding the right direction, Li Hong, unwilling to be lonely, began to rectify and gradually introduced kung pao chicken, pickled chicken and other Chinese food categories. Since 1998, the rural base has changed its face for the first time, that is, it has transformed into Chinese fast food. Up to now, the dishes in rural areas are mainly Chinese fast food. Based on Sichuan cuisine, Guangdong, Sichuan, Jiangsu, Zhejiang and other dishes have been introduced and digested, forming their own unique collection of dishes combining Chinese and Western. It is a detour from worshipping foreign countries to returning to China, but it is not without value. "To develop a chain, there is no chain without professional management. The first thing we look at is the advanced management experience of foreign fast food. After all, after a long period of development, foreign fast food has unparalleled advantages in process management and standardization. After digestion and absorption, we have to turn the meat we eat into our own muscles, so that we can stand on the shoulders of giants. " Li Hong recalled this. The road to success is not smooth sailing. In 25, bird flu was rampant and KFC was also affected. On the one hand, in order to avoid risks, but also considering the needs of brand development, Li Hong decided to change the label of country chicken and change the word "chicken" to "base": CSC is still used as the English abbreviation, but the meaning has changed from Country Style Chicken to Country Style Cooking, which means country original flavor cooking. This is the second time that the village base has changed its face. In fact, this is a move to borrow KFC's "base", and it is this bid change that reveals the lofty ambition of the rural base to compete with foreign brands. At the same time, in order to facilitate the expansion to the whole country, Li Hong also registered trademarks for services, restaurants and commodities, including clothing, shoes, hats, pickles and condiments. At the same time, the management policy of CSC has been adjusted, and a new management strategy has been constructed, with the intention of making CSC a modern fast food chain brand with wide variety, good quality and excellent service. At this point, the positioning of the rural base is basically clear, and it has also gained a firm foothold in the competitive market. Interpretation: From groping in the dark, to introducing other people's management, and then to independent innovation, the rural base, like many China enterprises, is walking on this track. This is a hard road to rebirth after nirvana, and it is also an inevitable process for enterprises to find their own market positioning. However, what is different is that many enterprises are forced by the pressure of market competition, but the rural base is a selection process of actively looking for chain development experience. It is never satisfied with small-scale single-store operation, actively introducing and learning from foreign fast food chain experience, and then digesting and transforming Chinese fast food. This persistence is amazing. In fact, it is often the strategic speculators who get lost in the competition. The most important thing to measure an entrepreneur is persistence, especially the persistent and optimistic spirit in adversity. Only an entrepreneur with this personality can make a team get out of the predicament and create brilliance continuously. Li Hong, a weak woman, happens to be a person with such a character.

Expanded management lock

Chongqing cuisine gathers, and the hot pot nourished by the aura of the two rivers once performed the restaurant chain in China to the peak; However, in the field of traditional Chinese food, there are few famous brands, and rural base is an exception. Compared with hot pot, Li Hong's Chinese fast food chain industry has three major ills: First, it is difficult to standardize. Without standardization, it is impossible to industrialize, and scale expansion will become a tree without roots. Second, "connecting" is easier than "locking". Because it can't be standardized, it is inevitable that there are many loopholes in internal management control. Catering is a freely competitive industry, and industries are cloned from each other. The leakage of secret recipes of core dishes will naturally lead to a great reduction in cohesion. The third is the market environment. Catering consumers often like the new and hate the old. The catering situation of "the city head changes with the banner of the king" puts forward harsh requirements for the research and development ability of enterprises' dishes, and also puts forward a test for the standardized chain model. In fact, Chinese food brands that are easier to standardize than rural-based meals are everywhere on the road to chain, with Malan Lamian Noodles and Northeast jiaozi as the most obvious examples. Products that are easy to standardize are easy to be cloned, and once they bloom everywhere, they often indicate the decline of a brand. The chain of Chinese food has become an embarrassing cycle. How to define the core competence of Chinese fast food chain? How to ensure that it can be connected and locked is not only a difficult problem to test the development of rural foundation, but also one of the problems that venture capital must ask.

standardization can only be achieved in the extreme

When Shen Nanpeng of Sequoia Capital asked about the rural base, Li Hong had already had a well-thought-out plan. She took out several thick operation manuals made by the village base itself, which not only standardized the operation procedures of the products, but also stipulated how to handle each raw material, what shape it was cut into, and how big it was, and even standardized every regional action of cleaning, with all the ways, methods and standard procedures available. All these are the experience and summary of the rural base on the standardization path. "In fact, we have only done two things. One is to continuously refine the process measurement until it can be standardized; The other is to train employees in standard implementation. " Li Hong expressed the road to standardization of rural bases in this way. There is a product development department in the rural base, which is not only responsible for the research and development of new products, but also for setting standards. In order to ensure the delicious rice, the R&D department selected high-quality rice from different regions for experiments, including how many times to wash, how long to soak and how much pressure.