Matthieu David interviews Gennadii Bochkar and Chen Feng (Fiona) partners and Co-founders at BIBIMI Group with 10 venues in Shanghai. Situated between the fast-casual and casual dining experiences, the BIBIMI group manages 10 venues successfully and planning to open new spots and even night clubs. But how do they manage such a managerial workload, what principles do they rely upon when building a new venue and how important is social media for their business? Find out the answers to these questions and more on this new China Paradigm interview.
0:00 Guest introduction
4:48 Current size of BIBIMI group and revenue
7:19 Brief group history
15:06 What was the vision of scaling from Bites&Brew to the BIBIMI group?
16:54 Fast casual and casual dining - why is the BIBIMI group in between?
20:31 The Beginning - was money raised to start or to grow the business?
22:02 What were the investments required to scale the business?
27:54 The principles involved in building a new concept for a restaurant
31:46 Leveraging social media for building new restaurant concepts
38:17 How does BIBIMI group's competition look like?
41:02 Did the coronavirus outbreak affect the BIBIMI group's business in a positive way?
43:47 What economy of scale strategies can BIBIMI group employ in the future?
46:18 It's all about having a great backend strategy
47:52 What software does the BIBIMI group rely upon in their day to day business?
50:48 What are Fiona's responsibilities within the group?
53:43 Is the interior design service internalized or externalized?
57:37 Paying back investors - a BIBIMI group timeline
1:01:00 How does Fiona handle Gennadii not being involved in the business full time?
1:03:10 What books have inspired Fiona in her entrepreneurial journey?
1:06:12 What books have inspired Gennadii in his entrepreneurial journey?
Creating 5 iconic restaurants in 3 different Asian cities: https://www.youtube.com/watch?v=owlrUttlkf0
Meet the founder of the iconic 17 year old restaurant in Shanghai’s ex French concession: https://www.youtube.com/watch?v=kjL6OHsNpQo
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China Paradigms is the China Business Podcast for entrepreneurs and China watchers. Learn from business professionals in China on our China Paradigms.