Be 5, 10 minutes.
Posted on 06/16/2018 8:48:27 AM PDT by ameribbean expat
Jiamener’s owners incurred a debt of 500,000 yuan (S$104,924) as a result of paying other restaurants to divert excessive customer flow. The promo proved so popular that customers would line up from 8am. The last customer would often not leave until midnight.
“We knew we would be losing money [by launching the discount promotion]. We wanted to accumulate more loyal clients through this strategy,” said one of the owners, according to the report.
The owners also hoped to establish better business relationships with their suppliers. They thought the success of the promo could help them get better deals on supplies and imported products in future transactions.
The succeeding two weeks since the promo began saw more than 500 customers visit the restaurant daily. However, as a result, owners Su Jie and Wang Mengfan and their staff could only get a few hours of rest. Staff had to work more than 10 hours a day, according to the report.
While Su noted the “uncivilized behavior of the diners,” he admitted that part of the problem had been their own poor management.
(Excerpt) Read more at asiaone.com ...
Must have been my nephew’s weightlifting team coming back from a meet again. They were kicked out of an all-you-can-eat pizza buffet once. ;-)
I've been in China. The food is cheap there, but it's not that cheap.
Staff had to work more than 10 hours a day
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Oh the horror! Poor babies ...
If I had a name like the onwer’s (Su Jie), I would have opened a Japanese restaurant instead!
Appeal to people’s greed and gluttony. What could go wrong?
Given a choice of a peanut butter and jelly sandwich and a free trip to the Chinese buffet, I'll take the peanut butter sandwich, thank you.
“Chinese hotpot restaurant goes bankrupt after month-long buffet promo”
Love how the Simpsons had a similar situation.
https://www.youtube.com/watch?v=Nms7mtiSCoE
One of the highlights of my trip to China was the food. Consistently delicious. We didn’t go to any buffets, granted.
Every dotcom in ‘99 was using this same “land grab” strategy — sell below cost, acquire customers as fast as you could, drive your competitors out of business or acquire them. It didn’t work then. It still doesn’t work 19 years later. Surprise, surprise.
You been here 4 hour! You go home now!
Opened the business in Dec 2017...
Bankrupted themselves in June, 2018...
I was in Vegas for a trade show years ago, and there was a $24, all you can eat buffet at the Bellagio. Really good food. Fresh Crab legs. The wife of my business associate was from Vietnam. She said you could never have something like this in Vietnam. Nobody would ever leave.
What you lose in profit, you can make up in Volume.
You eat too much! You too fat!
WHOA! You are so right - it's NOT that cheap ... These idiots don't 'get' human nature... Bernie's gonna have an easy time selling them on the idea of socialism...
lose money on every meal, but make up for it with volume ... yeah, that’s the ticket to success
NOTE TO SELF: READ TO END OF THREAD BEFORE POSTING
If you are losing $5 a customer, only an MBA would think you could make up for by increasing the volume of customers.
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