36氪 was informed that the Baozi track chain brand “Baocuiye Baozi” has recently completed an angel round of financing of nearly 10 million yuan, and this round was invested by Force Ventures.
Founded in 2020, Baocuiye Baozi is a fast food chain brand featuring Sichuan-Chongqing-style spicy xiaolongbao and the main night snack scene. Before the angel round of financing, Baocuiye Baozi also accepted the seed round investment incubation of Zhaimen Guangguangying in the first half of this year.
Baowen Ye Baozi started at the Jiuyanqiao Bar Street in Chengdu. As a local “nightlife landmark”, Jiuyanqiao often gathers a large number of young diners who have finished dancing. However, Jiang Hua, the founder of Baowen Night Baozi, found that the nearby night snack business is crowded. Barbecue, hoof flowers, skewers and other traditional categories, and the price per customer is higher. In contrast, the consumer demand for steamed buns is strong and high-frequency. Although the steamed buns sold in convenience stores are of average taste, young people still buy them frequently.
Jiang Hua, who had opened a steamed bun shop in 2016, decided to test the feasibility of bun supper near Jiuyanqiao Bar Street. During the National Day in 2020, Jiang Hua and two other partners jointly invested less than 10,000 yuan, set up an open-air supper stall and began to try it out. After running the model for more than 10 days, they found that the effect was good, and they opened it at the end of December. A stall with an area of about 8 square meters. According to Jiang Hua, the store sells nearly 2,000 xiaolongbao in a single day, with a single-day turnover of nearly 20,000 yuan.
The map of Baocuiye Baozi store, provided by the interviewee
Started in Chengdu, the core item of Baowen Ye Baozi is Sichuan-style spicy xiaolongbao. Different from common minced meat fillings, Baowen Ye Baozi cuts the pork into diced meat fillings, stirs them evenly with other accessories, stir-fries the oil in the central kitchen and freezes them quickly, and then freezes them at a temperature of minus 18 degrees throughout the whole process. The fillings are delivered to the store in the form of, and spring onions are added at the store for hand-made steaming to ensure the taste and standardize the operation.
Jiang Hua told 36 krypton that the total weight of the xiaolongbao containing the buns in the night is controlled at 31-33g, and the weight of the filling is greater than that of the dough, that is, about 16g of filling and 15g of dough, giving consumers a bite full of fillings. Feel.
In addition to the spicy xiaolongbao, the main products of Baowenye Baozi include mushroom sauce pork, Sichuan-style spicy hot pot, and spicy crayfish xiaolongbao. According to Jiang Hua, on the basis of the four classic Xiao Long Bao, Bao Wei Ye Baozi will also launch a creative bun according to the local market demand, such as Thai Tom Yum Goong, Egg Yolk Quicksand, Jade Vegetarian Assorted, Orleans Cheese Chicken Xiao Long Bao, etc.
Concept map of Baocuiye Baozi product, provided by the interviewee
In addition to Xiao Long Bao, Bao Wei Ye Baozi also sells soy milk, porridge, coffee and other specialty drinks. In addition, Baowei Night Baozi has recently tried to open a night stall and bistro business. On the basis of Baozi, it has added traditional classic night snacks such as lotus leaf steamed kiln chicken, Sichuan-style lo-mei, and Sichuan-style fried skewers.
Steamed buns are one of the traditional Chinese fast food. According to different product forms and flavor preferences, the overall brand structure is relatively loose. According to the statistics of Zhaimen Meal, there are about 188,000 buns and steamed buns in the country, of which the top brands in the number of stores are Babi steamed buns, Laotaimen soup buns, and Sanjin soup buns. The three brands have a total of more than 7,100 stores. The proportion is less than 4%.
In terms of expansion, after gaining a firm foothold in the Chengdu market, Bao Cuu Ye Baozi entered the Shanghai market. According to Jiang Hua, the 12-square-meter store opened on South Shaanxi Road in Shanghai has the highest single-day sales of more than 30,000 yuan and a gross profit margin of 65%. Since then, Baocuiye Baozi has continued to enter more than 100 cities across the country such as Shenzhen and Beijing in the form of brand cooperation, and has opened more than 300 stores.
Jiang Hua told 36氪 that at first she didn’t want to open a store in the country so soon, but the store quickly accumulated brand voice through new media platforms such as Douyin, Xiaohongshu, and Station B, and with the support of the standardization of the product itself, Therefore, pilot projects of brand cooperation have been conducted in some cities across the country. After more than a year of testing and development, more than 300 stores have been opened. At present, the stores are mainly concentrated in East China, South China and Southwest China.
According to the different locations of office buildings, neighborhoods and communities, there are certain differences in the store types of Baocuiye Baozi stores. According to Jiang Hua, the main store of Baocuiye Baozi has an area of about 20 square meters and a daily revenue of about 4,000-5,000 yuan.
Lu Yuxiang, the founding partner of Yuanli Ventures, the investor of this round, said: “Bao Cu Ye Bao Zi has accurately entered the market of late-night buns with Sichuan flavor. It was born during the epidemic and showed excellent vitality, whether it is in Beijing, Shanghai or Chengdu. , or sinking into the market, the number of stores has expanded rapidly, breaking the time and geographical restrictions to a certain extent.”
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