Liu Zhiguang, general manager of Beijing Tianyuanji Food and Beverage Co., is looking to take his chain of hot pot restaurants public, a rare move in China's booming food and beverage industry. Far from a member of the restaurateur elite, Liu could better be described as an investor.
Before his stint at Tianyuanji Food and Beverage Co., Liu was a partner at the Beijing Road Investment Co. He thought highly of Tianyuanji, which literally means countryside chicken, and decided to devote his money and time to the Beijing restaurant chain.
"Investors have an unrestrained and vigorous style," Liu said, sitting in his office. "A layman can put an enterprise in the fast lane. But experienced workers keep it on the road." Liu's reforms at Tianyuanji have been sweeping, but he keeps the core of the business the same.
Liu says he wants to add European flair and class up the "countryside chicken" that made Tianyuanji so famous.
"I think there are two kinds of products: one is classical and the other is updated," Liu said. "Tianyuanji's chickens are raised in the wild. The chicken soup is boiled for seven hours. It's green, organic and environmentally friendly. These are the classical features, and I won't change them.
"But Tianyuanji's atmosphere is European. Our design showcases the landmarks of Seattle, Victoria, Bordeaux and Edinburg. Life in those cities is relaxed and simple. This is what I want for the environment of Tianyuanji a home away from home. Consumers in Tianyuanji can enjoy the feeling of countryside and home cooking."
Liu is building a "Parisian countryside" atmosphere for Tianyuanji. In the waiting areas, coffee is provided for consumers not to refresh you, but because its bitterness and smell can perk you up for a meal.
Liu show off his design for the restaurant on a computer. It included European-styled private rooms in light green. Looking at it, you might think you had stepped into a coffee bar instead of a hot pot restaurant. Instead of the steamy, hot air of most hot pot restaurants, powerful air conditioning keeps customers at Tianyuanji feeling cool.
According to Liu, Tianyuanji service strategy is to treat guests like family, drawing on the Chinese tradition of serving the best food to family.
"The first time I told our shareholders that I will make Tianyuanji like this, they were shocked," Luo said. "One of the shareholders asked, Liu, is this still Tianyuanji?' I said, Yes, that's right.' I'm changing it. I even want to change the logo. I feel the logo is not international enough."
Liu indulges in flights of fancy, but he's also quite serious.
"I know I'm betting. I'm betting because I have a sense of mission. I'm always wondering why it's so hard for a Chinese food business to go public. China has many restaurants and great culinary culture. There should be many Chinese restaurants going public."
"Not a single investor has devoted himself to restaurants. We investors usually just put money in the businesses we think have potential. This time I also put myself into the venture. I never told my employees that we will go public, but we are working towards this goal. I asked my employees to make the products standard, provide the best service, open more and more branches and keep the finances sound. If we reach all these targets, it's natural for us to go public. Of course, whether Tianyuanji can be listed is also a matter of opportunity. But it's not a loss for me if it can't. I rebuilt a Chinese restaurant, and it is a Beijing brand. It's meaningful, isn't it?"
In this era, the winner takes all, and the loser goes out of business. Liu understands this more than anyone. But he has a strong sense of mission. The food safety problems have plagued China of late have pushed Chinese restaurants into the heart of the storm. Consumers are losing faith in what they eat.
Tianyuanji wants to provide a transparent dining experience. It has invited consumers to its suppliers' farms to see chickens in the field. "I think to present the truth is also a good marketing strategy," said Liu. This is the loyalty investors have to standard and quality. Going public is not only a capital operation, but also an improvement on quality and brand.
Whether Tianyuanji can be listed is a matter of opportunity, but quality, service and scale are the preconditions for that opportunity to come. We look forward to Liu's success because this is not only a listing of a Chinese enterprise, but also a display of Chinese brand and quality.
