Chicken franchise BBQ operator Genesis BBQ Group (hereafter BBQ) said on the 23rd that it signed a master franchise (MF) agreement with a local corporation in Thailand. MF is a model in which, instead of the headquarters entering overseas markets directly, it signs contracts with local corporations to receive brand royalties and fees while selling technical support and brand licenses. It appears to be moving in earnest to expand its business in Southeast Asia.
Genesis BBQ (Thailand) Co., Ltd., which signed the MF this time, is a company established by a corporation that grew with a focus on food and beverage (F&B) and social overhead capital (SOC) businesses based in Shanghai, China. In Thailand, it has also operated dining-out businesses such as casual dining restaurants (CDR) that reinterpret traditional Thai cuisine in a modern way. Based on this, it is said to have a strong understanding of local commercial districts and consumer trends and stable business operation capabilities.
Thailand is considered one of the major markets in Southeast Asia. With a population of about 71 million and demand for tourism and dining out, global dining brands have strong growth potential. In particular, there is a high preference for K-food menus, and with tourism demand added, a wide range of consumer groups coexist.
BBQ plans to unveil flagship stores in the CDR format centered on key commercial districts in major cities such as Bangkok, the capital of Thailand, and Chiang Mai, Phuket, and Pattaya, as well as complex shopping malls such as Siam Paragon and CentralWorld, and to expand its franchise business.
A BBQ official said, "Thailand is one of the core markets in Southeast Asia," and added, "After establishing a foothold in the Thai market, we plan to expand into Southeast Asian countries adjacent to Thailand, including Myanmar, Laos, and Cambodia."