On March 30, the tavern chain brand Helens submitted a listing application to the main board of the Hong Kong Stock Exchange.

In 2009, Helens took root in a remote alley in Wudaokou, Beijing.

In 2016, the Wuhan Donghu store of Helens was closed due to the inability to renew the lease. A large number of fans spontaneously came to do a special farewell ceremony. Among them, some were college students, some had graduated for many years, and even couples came together... They came from all directions to "memorialize" their youth together. The farewell ceremony was filmed into a documentary by a journalism college student under the name "Farewell to East Lake", which caused a stir.

In 2021, this brand, which carries the youthful memories of countless young people, has spread all over the country and plans to go public with 372 stores.

ONE

Playing with "universal" philosophy

10 yuan small wine, 800 million yuan in annual income

The contents of the prospectus of Helens show that Helens is currently the largest offline chain tavern in China, and its model is stable. From 2018 to 2020, Helens’ revenues were 115 million yuan, 565 million yuan, and 818 million yuan respectively. Among them, the monthly revenue in December 2020 was 140 million yuan.

The income is rising steadily, and the scale is steadily expanding, with an annual income of 800 million. Helens has indeed made the model of the tavern very beautiful. So, what kind of model does Helens present?

1. High cost performance

The price of all bottled beer in Helens is below 10 yuan, which is rarely matched by a pub with such a high cost performance.

Opening the Tmall flagship store of Helen Division, the average price of a single bottle of various craft, fruit and milk beers is even less than 6 yuan, plus the full reduction of the whole audience, which is properly cost-effective. Behind the high cost-effectiveness is the supply structure of Helens, which focuses on its own alcoholic beverages. From 2018 to 2020, the proportion of Helens's own alcohol and beverages was 68%, 64%, and 70%, respectively.

High cost performance, forming the first barrier to competition for Helens. The significance of high sex ratio to Helens is not only to gain an advantage in the competition, but more importantly, it lowers the threshold of the tavern and obtains the opportunity to attract people from potential customers.

Compared to other food and beverage categories that are just in demand, pubs have their own threshold for many people. The high added value of wine and high invisible consumption are the main reasons why many people reject pubs. Then, once Helens takes down the consumption of the tavern, all products are clearly marked with prices, there is no low purchase, no opening fee, no low price increase, so that customers can clearly consume, and Helens lowers the threshold of the tavern invisibly.

Helens has created a scene that is very tempting to college students and is relatively friendly to female groups. Such groups have high consumption desires, but their consumption power is slightly insufficient. Helens opened the door to them. Helen Division also mentioned in the prospectus that there are 3,000 domestic colleges and universities (including junior colleges). The expansion of colleges and universities, postgraduate entrance examinations, and public examination gaps have increased the penetration rate of "college students" in the general discussion + extended average time, and there is enough space. The increase in the group of college students is a major driving force for Helens to maintain rapid growth.

To create an image of a very universal tavern, and to promote the tavern category into people's daily life like just-needed catering categories, this is the ultimate role of Helens's high cost-effectiveness.

2. Anchoring young people in small towns

In traditional perception, pubs are places for urban youth in first- and second-tier cities to feast. High cost performance is the first step for Helens to break this recognition. In the second step, Helens enters second- and third-tier cities and approaches young people in small towns.

Data from the prospectus shows that as of the end of 2020, the number of first-tier, second-tier, third-tier and lower-tier stores of Helens was 56, 200, and 104, respectively. 400 stores will be opened in 2021, and it will reach 2,200 by the end of 2023.

Helens is a brand that has continued to decline from first-tier cities, and it has blossomed everywhere in second- and third-tier cities. Among them, second-tier cities have always accounted for 60% or more of sales. Compared with first-tier cities, second-tier and third-tier cities have less competitive pressure, and the development space is not small; property costs are lower, and per capita consumption is not low. This is probably the main reason why Helens anchors "small town youth".

Even in the first-tier cities, Helens has maintained a consistent "low profile", most of which are located in relatively remote locations in order to use low rents to balance the contradiction between high cost performance and income.

3. Build a social entertainment scene

Helens is known as the "Starbucks at Night". The reason he is so called is because Helens has also created a social scene similar to the "third space".

The company has a clear target audience-young people aged 20-30, with a literary and clean temperament, they come to Helens to enjoy a relaxed, comfortable and free leisure time (space). This is also the background of the birth of the documentary "East Lake Farewell". On the premise of cost-effectiveness, Southeast Asia + domestic minority decoration, wine + music, Helens provides a place for young people to gather in small circles at ease, where young people can freely release their youthful emotions, which allows Helens to have A unique emotional label.

The online Helens also has unique social charm. The Helens Bistro has 558,000 followers on Douyin, and the total number of followers on each official account exceeds 570W. At the end of 2020, #海伦司可乐桶全国联合姿# challenged to max out the vibrato, which was played more than 1 billion times. With both online and offline operations, Helens continues to strengthen its social symbol, which is the intangible competitiveness of Helens after its cost-effective products.

4. Franchise becomes direct operation

Helen Division's prospectus mentioned that the current 372 stores are fully directly operated. In 2018, franchise store revenue accounted for 40,000. By the end of 2020, there are 14 franchise stores left, all of which have now been adjusted to a direct sales model. Fully direct operation determines the high degree of standardization of Helens.

At present, Helens has created a model with less service, less manpower, basically no back kitchen, and extremely low labor costs. The 300-500 square meter Helens store generally has only about 10 employees. During the peak period, the ratio of employees to customers reached 1:20. Behind the high human efficiency is the extremely simplified management system of Helens. The employees of the Helens store only need to do three things: hygiene, safety, and system prompts.

Helens is also a brand that started digital upgrades earlier. Currently, Helens independently developed the Future BI system, which integrates the ERP system and CRM to form Helens' unified data analysis and management platform. The digital system has improved Helen's real-time perception of store operations, such as real-time understanding of the sales, passenger flow, weather, personnel, and electricity consumption of each store. Helens has also built an intensive and visualized intelligent music management system, which can accurately and real-time control the background music of every tavern nationwide with only 5 employees.

High cost performance; clear positioning and development route; clear brand label; simplified operation and maintenance, high digitalization; direct sales drive high standardization... From the current point of view, Helens has shaped a consumer recognition, easy to copy, and the initiative is controlled The model in your own hands.

TWO

The growth of Helens

Let us see the two major misunderstandings of catering operations

From 2009 to 2021, Helens is as low-key and simple as its positioning, but it has accumulated rich experience. The tavern that year has grown into a towering tree. This kind of Helens is worthy of reference by catering people, and at the same time, some of its development logic is also worthy of reflection by catering people.

1. Grounding and trendy consumption are not incompatible

The scene revolution has been very loud in the past two years. When it comes to making money for young people, many catering people are the first to think of fashion trends and tall scenes. In fact, a large number of cases have proved that too fancy or tall scene design, as well as flashy menus, etc. will not only increase operating costs, but will also discourage some consumers.

Helens’ model shows the importance of a “comfortable” scene. The combination of positioning and the scene, so that the target audience can enjoy a comfortable and comfortable experience, is the meaning of the successful scene.

2. Pyrotechnics and standardization are good brothers

When you are still hesitating whether to pay attention to the standardization of the fireworks and gas of the catering, it means that you have not found the correct standardized posture.

Standardization is the general trend of catering development, but there is no "standard" for standardization itself. The members of Helen Division can reserve background music through the official WeChat account. Each of Nayuki’s teas has a different style...Behind the standardization can also be "thousands of shops and thousands of faces", and it can also be full of humanity and fireworks. .

THREE

If it can be successfully listed, Helens will become the first pub in the catering industry!

As a category with strong social attributes, the tavern has been developing rapidly in the past two years. Food and beverage brands such as Starbucks, Hey Tea, Nai Xue's Tea, and Coucuo are all actively trying out the pub business. More and more catering bosses anchor the tavern business, and the competition in the tavern field will increase. Going public may be a major strategic move for Helens to raise barriers to competition in the face of competition.

In any case, the "high cost performance", "low threshold", "high socialization", and "high standardization" of Helen Division have brought new ideas for pub operations and even catering operations.