My Age of Investment

After being silent for more than ten seconds, Xia Jingxing decided to change his mind, and asked with a smile, "Then Mr. He, Mr. Liao, can you tell me what your ideal business model is?"

He Yonghui immediately answered: "My ideal state is to walk on two legs, direct sales and franchise.

Enterprises are just like people, how can they walk fast when they walk on one leg? How to walk steadily? "

This analogy was a bit out of line, Xia Jingxing really couldn't fault it, he smiled and nodded, motioning for He Yonghui to continue.

"I know that direct-sale stores have higher revenue, which will help promote the company's listing. Even if it goes public, the market value will be higher, right Mr. Xia?"

Xia Jingxing nodded slightly.

He Yonghui showed the aura of a strong woman and began to point out Jiangshan.

"But the direct-sale store, its management model is very heavy, what is it called...heavy asset operation, right?"

Xia Jingxing didn't expect this elder sister to know so much, so he continued, "If you really want to make a gold-lettered signboard, you can only choose this path."

He Yonghui waved his hand, "President Xia, don't worry, listen to me first.

If the directly-operated stores want to grow bigger, they will put forward higher requirements for funds and management.

As for the franchise stores, they currently account for a large part of the revenue of Little Swan Hot Pot.

If this business is cut off, it is equivalent to cutting off an arm, and Little Swan's revenue will definitely drop sharply.

We basically don't think about going public within two or three years. "

Xia Jingxing frowned, "Why are you in such a hurry to go public? Little Swan has been established for 24 years, and if you wait a few more years, you can definitely wait!"

He Yonghui and her husband looked at each other and both smiled, the former said with a smile: "Mr. Xia, let's open the skylight and speak honestly, we want to send Little Swan to the capital market as soon as possible.

At present, a large number of catering chain enterprises such as Little Sheep, South Beauty, and Xiang'eqing are gearing up and are all preparing to go public.

At this time, we naturally cannot be slower than others.

Because one step is slow, one step is slow. "

Xia Jingxing's brows were so wrinkled that he almost lost his shape.

The other party's thinking is far from what he thinks.

Of course, no one is wrong, it's just that the ideas are too different.

"Sister He, I actually want to say that listing is far from the end of a company's struggle, but only the starting point."

Xia Jingxing was patient, and slowly persuaded: "Whether it's good to be a human being or a business, we can't compare blindly, we have to consider our own situation.

In my opinion, Little Swan can temporarily hibernate and spend three to five years to complete a round of radical changes.

After finding out a set of efficient, high-energy, and unique operation and management model, we will accelerate the expansion and hit the capital market with a larger and healthier operation.

In the capital market, there are no fools. They can tell whether a company has its own unique competitive advantages.

This is also an important dividing line that determines the market value of a company.

Let me give you a simple example. There are currently two roads ahead of Little Swan.

One is to go public within one or two years, with a market value of 10 billion on the first day of listing, and a market value of 5 billion after half a year;

The other is to wait ten years to go public, with a market value of 100 billion on the first day of listing, and a market value of 200 billion after half a year.

I think you should weigh whether short-term interests or long-term interests are important. "

What Xia Jingxing said was very sincere and serious, but the couple couldn't get it at all.

He Yonghui shook his head and laughed, "Mr. Xia, you really dare to think about it. Hot pot restaurants, who dare to think about the market value of 200 billion, the market value of the big state-owned banks is no more than that."

Xia Jingxing said indifferently: "In more than ten years, the market value of several banks will definitely not exceed the current market value, and the current market value may only be a fraction."

He Yonghui didn't argue with Xia Jingxing, but smiled and said, "Mr. Xia, we are getting older, so we didn't think about such a long-term plan.

People in their fifties are old enough to know their destiny, and they should accept their destiny in life.

We have been in business for more than 20 years and have made a lot of money. Our last dream is to put the company on the market. Once we ring the bell, our life will be completely fulfilled. "

He Yonghui looked at her husband, who smiled and nodded at her. This is their common dream.

Xia Jingxing picked up the teacup on the table, took a sip of tea, and looked at the couple.

Having chatted with the two of them today, he gained a deeper understanding of the group of entrepreneurs.

There is Duffield, who is still ambitious in his old age as a martyr;

There is Yin Mingshan, an old man with a long-term ambition;

There are also Ma Yun and Zhou Hongyi who are full of vigor and ambition.

The choice of the couple in front of them cannot be said to be wrong, it can only be said to be a life choice.

Xia Jingxing put down his teacup lightly and remained silent.

He Yonghui and her husband also felt it somewhat. This Mr. Xia seems to want to make long-term investment, which is inconsistent with their husband and wife's eagerness to send the company to the market.

Thinking of this, He Yonghui decided to reveal it thoroughly.

"Mr. Xia, what Sequoia China told us is that it will take two to three years to open 150 new directly-operated stores and 200 franchise stores in the Mainland, Hong Kong, Macao, Taiwan and overseas, bringing the total number of chain stores to 600. Sales revenue achieved 4 billion.

We also recognize this model. Among the 600 stores, one-third are directly-operated stores and two-thirds are franchise stores. The revenue structure is more reasonable and the risk resistance is stronger.

Of course, it also saves time. "

After briefly introducing Sequoia's plan to help Little Swan, He Yonghui stopped talking and sat there quietly, waiting for Xia Jingxing's reply.

Xia Jingxing was sure that according to Sequoia's way of thinking, Little Swan couldn't be done.

Too eager for quick success!

Hot pot is an industry with a low threshold. If you don’t lay a solid foundation and dig out a deep moat, you will rush to the market.

In an industry with hundreds of billions of opportunities, just investing in a penny stock is far from reaching the expected return of Xia Jingxing's plan.

What's more, Little Swan failed to go public in the end. It is said that the executives of Sequoia Airborne have high-mindedness and low-handedness, and they are not familiar with the hot pot industry. It was almost broken, and in the end it was almost sold to Hony Capital, a subsidiary of Lenovo.

Lenovo's business is so extensive, with several investment platforms under its umbrella, the layout is comparable to Vision Capital.

"Let's talk about this first today!"

Xia Jingxing got up, shook hands with He Yonghui and his wife with a smile, and left with Fu Jixun.

As soon as he walked into the hotel suite, Fu Jixun said, "Right, what did I say? If you talk about long-termism with this kind of entrepreneur, you are playing hooligans."

Xia Jingxing leaned on the sofa and closed his eyes to rest his mind. He let out a long breath. Today's negotiation made him very annoyed.

The thinking of He Yonghui and his wife is normal and understandable, but according to the thinking of the other party, it must not be possible.

Opening his eyes, Xia Jingxing looked at Fu Jixun who was sitting across from him with piercing eyes, "Think of another way! If it really doesn't work, the only option is to change the bid."

Fu Jixun said sternly: "It's hard to find a suitable target, first of all you have to have a certain foundation, we join in, not to help them go from zero to one, but from one to one hundred.

Secondly, entrepreneurs are very important. They must not be old-fashioned, they must be full of vigor.

Finally, boss, does the hot pot restaurant empowerment you mentioned really work? "

Fu Jixun made Xia Jingxing laugh at the last sentence, and even questioned himself as the boss.

However, the investment industry is no different than others, Xia Jingxing also allows and even supports his subordinates to put forward some different ideas.

"Leaving aside the last one, investment cannot be completely risk-free. Let's talk about the first two first!"

Xia Jingxing looked at Fu Jixun and asked, "Will you contact Haidilao again?"

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