in ,

The Story Of World’s Richest Eatery Entrepreneur : Zhang Yong


The Background

China based, Haidilao Hot Pot restaurant chain , which came with IPO in last September has made its founders  Zhang Yong and his wife Shu Ping as the World’s richest eatery entrepreneur. In just 3 months of 2019 their wealth has grown by $6 billion, which is fastest in Asia . As per Bloomberg Billionaire’s index,  globally they come at second number after Australian mining baron Andrew Forest, whose wealth doubled .

The Style : Make your own food

Hot pot creates a very pleasant and delicious  eating experience, where diners make/arrange their own food.  It involves  a huge bowl of broth/soup placed in the centre of a table that is heated there via induction or flame. And ingredients like raw vegetables to thinly sliced meats are also placed on the table (or on a nearby cart) so that diners can add/ submerge them in the broth/soup  to cook before eating. You can make the dish spicy as per your requirement.  So the experience is like make your own food and enjoy …

And what during Waiting time…

Customers can relax during waiting time as they offer services like free manicures to waiting customers. Sounds really creative !

The pace of growth..

As mentioned by  Zhang Yong in an interview to Forbes , It’s better to scale fast and be everywhere instead of having a single towering presence. And following that Haidilao is opening a new restaurant every 3 days! Has expanded in Asia and London , Australia, Canada and to many more

How it all started..

Zhang is high- school drop out , and as he was not having any capital or technical knowledge , he decided to serve meals. With seed funding from 3 friends , he started the business and ensured that every customer who visits his restaurant  get in return some discount or free snacks .  And was taking customer feedback seriously. They believe in people- first approach and follow detailing , analysis and set procedures to achieve it. The business founding team of 4 , is now two married couples.

What do you think?

12 points
Upvote Downvote
The Starterr

Written by The Starterr

Leave a Reply

Your email address will not be published. Required fields are marked *


Bhartiya Dak ( India Post) ahead of Air India and BSNL in making losses


Food Retail Landscape : From Kirana To Convenience Store