After a month and a half of work, I believe I have come to develop a good understanding of the place and plan of my particular company. Hatchery works in a very interesting niche in the Beijing market. As a western restaurant, it is done well, good décor, good planning on food ideas and presentation and good management. However these facets are rather ubiquitous to all of the successful foreign restaurants in Beijing’s competitive market. What makes hatchery more special is the concept of the hatch track system and the management and incubation process that define its core business model. Through taking equity share in the concepts it market tests and rolls out, hatchery hopes to be stakeholders in the net big thing in Beijing’s culinary scene, and after some expansion, large food franchises in Asia at large.
As for the challenges facing hatchery, currently they are numerous but manageable. Primarily they have to contend with the often-enigmatic Chinese government, and still as of writing have not reopened for business to the public. In addition to this, they must work with their current business partners as well as developing new relationships without getting bogged down in the guanxi culture that pervades Chinese business. Finally they must overcome a cutthroat environment for restaurants, particularly western concepts, to establish a lasting presence in Beijing and China at large. On the positive side, hatchery currently has wealthy and influential backers, and is poised to make great leaps toward expansion through both classic VC methods and crowdfunding options. These opportunities make the challenges and threats to hatchery seem a bit less serious in comparison.
In my opinion I feel that hatchery has a good chance for success in the future. It has a core of dedicated personnel that have a vision for not only the present workings of the company, but the future growth and opportunities that they may have. Their plan makes sense, and their business model seems sound, which makes me think that hatchery might not only be a staple in the Beijing market but very well could be expanding across Asia with large shares in many successful franchises.