You can say that Tasty Thai is a very first franchise Thai fast food concept with self counter-service restaurants. The kick part is that the idea started by a Swedish living in Thailand. After many years of preparation the first Tasty Thai restaurant is now opened and running so well in Stockholm with 500-600 customers per day.
Thai food ranks as one of the most popular cuisines in the world today, but as yet there is no global brand. It is the aim of Tasty Thai to become the global brand for Thai food through franchise restaurants worldwide that offer consumers the quality, authentic Thai food they want in a modern Thai setting.
Healthy, authentic and convenient
The majority of fast food restaurants in the world offer food that is not healthy. In contrast, Thai food, with its emphasis on fresh, quality ingredients, is well recognized as one of the healthiest of the world’s great cuisines.
The problem is that many existing Thai restaurants around the globe lack consistency and authenticity. Despite this, the Asian food sector is the fastest growing sector in the restaurant industry, while healthy food has now become a key global trend.
Tasty Thai offers the solution with a menu that has been developed to meet the needs of today’s health conscious consumer without compromising authenticity, quality or taste. The end product is a wide variety of fresh, nutritious and delicious meals delivered with the speed, convenience and affordable price that modern customers demand.
Over the last few years, Tasty Thai has invested heavily in research and development of the Tasty Thai concept.
A critical part of the concept is the menu. This is balanced to meet the criteria of authenticity, health and convenience logistics. In combination with all the nutritional analysis and detailed manuals for preparation, this is truly a unique and valuable asset of Tasty Thai.
Also vital to the success of Tasty Thai is training, and huge effort had gone into the creation of a world-class modular training programme, which includes a train-the-trainer approach. All documentation that can be expected has been developed, and even university certification after completion of a training course can be provided. Furthermore, supporting manuals, such as cooking handbook, manager handbook and operations handbook among others, are now either ready or in the final stages of development.
Among other now established areas of preparation are IT systems, website design, a multi-lingual Point Of Sales system (POS), product sourcing, legal and international compliance documentation, market research and analysis.
A Global Brand
Tasty Thai’s goal is to be recognized worldwide as a sought-after brand.
“Already we have received through our website and other contacts a steady stream of interest in Tasty Thai,” says Gunnar.
“To date we have sold a Master Franchise to Hawaii, signed a MoU for a Master Franchise in London, negotiated a contract for Bahrain, and agreed in principle a Shanghai contract. We have also committed substantial resources to developing the North American Market.”
“In Bahrain we were actually asked by the navy base to open our franchise there,” adds Gunnar.
“They were unhappy with unhealthy fast food provided in the base. I think Tasty Thai will give them the missing flavor they were looking for.”
Marketing and sales
While more and more consumers are relaying on the food service industry to serve healthy meals that taste good, they are also showing a distinct preference for ethnic cuisines, especially Asian. Research in America indicates that nearly 40 percent of the population is interested in having access to Asian quick service restaurants. And within the Asian food segment of the restaurant industry, Thai cuisine is one of fastest growing.
“The major current trend in all targeted markets is towards more health consciousness, and we believe it will be a long-term trend.” says Gunnar.
The healthy aspect of Tasty Thai’s food is a key competitive advantage and will be emphasized in all marketing activities. Moreover, the “Fat Tax” and other regulative measures to combat obesity currently receive significant attention in the media. Consequently food authenticity and healthy aspects of the Tasty Thai menu will be the most important promotional messages.
Of all markets, the greatest sales and growth potential lies with the new generations. Generation Y (aged 18-24) and Generation X (aged 25-35) are setting the trend for following generations; they like to eat on the run, pay for more for convenience and show a taste for authentic ethnic foods. It is estimated that about one-third of those aged between 15 and 24 eat their evening meal at a restaurant three or more times a week – that’s almost double any other population segment.
“Franchising is one of the great business models of our time,” says Gunnar.
“It’s efficient. It’s versatile. It’s profitable. And it just works. We realized early on that franchising was the best way to go global with the Tasty Thai concept. It allows us to develop our concept and our brand all over the world quickly and efficiently. It is also perfect for our franchise partners, the owners and operators of Tasty Thai restaurants, who receive the benefit of years of research and development, as well as ongoing support.”
“How it works is that we sell Master Regional Franchises (MRF), and the MRF establishes a pilot restaurant and then in turn sells single restaurant franchises (SRF),” Gunnar continues.
“Restaurant sales include not only general menu items, but also merchandised products. Profit margins are healthy, while business growth and development is self supporting.”
“Franchising works for us because it will make Tasty Thai a reality in multiple locations around the world. Healthy, authentic Thai food and franchising, indeed it’s a perfect recipe that blends eastern products and design with western systems and management.”