Wanna Open a Haidilao Franchise?

All the food you can eat and be entertained at Haidilao!

Is Metro Vancouver open to having more hotpot restaurants, specifically from the hotpot chain Haidilao?

Haidilao International Holding Ltd has two locations in Metro Vancouver, one in Vancouver in the Kitsilano neighbourhood, and in Richmond. But if you're an entrepreneur, perhaps you'd be interested in opening an Haidilao franchise?

Since the Beijing-based company opened in 1994, the hotpot restaurant chain has over 1,400 locations around the world. Last month its revenues were expected to reach US$5.75 billion and US$611 million in net profits in 2023.

The noodle dance is a Haidilao highlight

It announced earlier this week it is open to franchising.

While it could be tempting to open a franchise of Haidilao, with its staff attentive to customers' needs, even willing to dance for them, perform face-changing "magic" and fling noodle dough around for added value, do we need another Haidilao?

William Tse, association director of the BC Asian Restaurant Cafe Owners Association believes the hotpot market in Metro Vancouver is saturated, as many hotpot restaurants aren't doing well. As a result, he believes there is limited room for growth.

"There are already many hotpot restaurants competing with each other in Richmond, Burnaby and Vancouver. If you open locations in cities where there is a smaller Chinese Canadian population, there may not be enough demand," Tse said.

"And the higher rents have increased the costs of running a restaurant. Investors will need to take that into consideration as well."

Who knows? Maybe we need Haidilao domination in Metro Vancouver! It would definitely raise the quality level of hotpot restaurants!