Mos Burger ready to take Thailand by storm
Japan's Mos Food Services will spend Bt90 million to set up 12 Mos Burger quasi-fast-food, quick-service restaurants in Thailand within the next three years, targeting high-end customers.
Mos Food Thailand managing director Yasunori Yoichi sees a business opportunity despite the economic slow-down and is banking on the Japanese-food craze that has been gaining momentum in Thailand.
Yoichi cited the similarities between Japanese and Thai cuisine, such as certain common ingredients, as the reason for such unprecedented popularity.
With its first branch set to open on the third floor of CentralWorld, the burger chain is looking to open other outlets in premium shopping complexes in Bangkok's city centre and suburbs, office buildings and even as standalone shops. It aims to open two branches in the first year, four in the second and six in the third.
Yoichi predicts annual revenues of not less than Bt20 million this year. Ten per cent of its turnover will be used as next year's marketing budget. In subsequent years, with more branches opened, Mos Food will allocate only 1-2 per cent of turnover for marketing, focusing primarily on print ads, such as brochures and in newspapers.
Mos Food Thailand has registered capital of Bt50 million.
Its mother company, Mos Food Services, reported net sales of 58 billion yen (Bt17.23 billion) last year, a 1.9-per-cent drop from 2005. The company lost ¥7.3-billion in 2005 but rebounded to show a ¥1-billion profit last year.
Mos Food's first expansion abroad was in Taiwan in 1991, where it now has 121 branches. It has 21 outlets in Singapore and two in Hong Kong and is planning an aggressive expansion into Australia and South Korea.