How to make next year brilliant
Lots of people make New Year's resolutions, but keeping...
Many of us dream of moving to a tropical paradise such as
Thailand. However, unless you are independently wealthy or do
not need to work for the rest of your life, you can only afford to
stay there for a limited time before you have to return to the real
world and start earning a living again.
But what if you could create a
business in the place of your dreams that could
provide you with a great living? What kind of business, you
might ask? How about a fast food franchise, such as a pizza
restaurant?
If this sounds like a great idea, it is, but someone already
beat you to it, 36 years ago. That's right, William Heinecke
opened the first Pizza Hut in Asia in 1980, in Pattaya, Thailand.
With the high volume of Western tourists that visit Pattaya
every year, a Pizza Hut there could never fail for lack of
business, but would Thais like pizza enough that Heinecke could
open more locations nationwide and reap enormous profits from that
untapped market?
Thailand is the only country in South East Asia that was never
colonized. It was permitted to serve as a buffer between England's
colonies in the West and South, and France's colonies in the North
and West. While Vietnam has enjoyed bread and cheese
introduced by the French for several centuries, foods like bread,
cheese and pizza did not make it across the Mekong River to
Thailand. Most were unknown in Thailand up until the last few
decades with the influx of Western tourists.
Pizza was not expected to do well in Thailand but to Heinecke
took a chance, obtaining the franchise rights for all of Thailand
from U.S. based Yum, to his good fortune. The people of Thailand
loved pizza and Heinecke opened 116 locations in Thailand from 1980
to 2001. In 2001, Heinecke had a disagreement with Yum and
rebranded all of his Pizza Hut locations under his own brand, Pizza
Company. He spent five million USD, which paid off big, giving him
an instant market share of 70% for fast food pizza restaurants in
Thailand. He introduced other fast
food franchise changes to Thailand as well, such as
Mister Donut, Burger King and Swenson, which can be found in every
major city in Thailand today.
Heinecke became a Thai citizen in 1991, and now owns a dozens
of hotels and fast food franchises under his corporation, Minor
International, or MINT. MINT is one of Asia's largest casual
dining and quick-service restaurant companies, operating over 1,800
outlets in 19 countries under The Pizza Company, Thai Express, The
Coffee Club, Ribs and Rumps, Riverside, BreadTalk, Swensen's,
Sizzler, Dairy Queen and Burger King.
While Heinecke may have the pizza market cornered in Thailand,
there is always room for something new and different. If you
have some money to invest and have always dreamed of a life in a
tropical paradise, consider a fast food franchise in a heavily
touristic location. Once you have one or two going well in
these areas, start expanding into local Thai markets. The
cost of living and labor is very affordable in Thailand. Your
dollars can go a long way there, and with good planning and hard
work, you just might end up a Billionaire like William
Heinecke.
Tracy is a native of California and an attorney in the
California office. He has an extensive background and served three
years in the U.S. Army and six years in the California Army
National Guard. After spending a year in Tokyo, he not only learned
to speak Japanese but also developed a fascination with ancient
archaeology and history. He holds a B.A. in Communication from
California State University, and a J.D. from San Francisco law
school. Prior to joining Sheltonpower & Associates, Tracy started
his own private practice in 2000 where he focused on bankruptcy,
immigration and family law. He plans to utilize his experience to
help clients prepare for their future with business law, wills &
trusts, and is now gaining expertise in franchise and trademark law
as part of the Sheltonpower & Associates team.
