Chinese fast-food chains taste success at home, abroad
Infusion of traditional flavors, new generation of diners have industry sizzling
Going global
In 2021, Bingz opened its first international restaurant in Toronto, Canada. Today, Bingz operates five stores in Ontario province, with a single outlet's annual revenue exceeding 20 million yuan, outperforming established brands like Burger King, Starbucks, and Subway, Meng said.
The menu favorites in Canada include the Signature Beef Burger, Black Pepper Beef Burger, Butter Chicken Burger, Plum Fizz and Cold Noodles Salad.
New restaurants are set to open in British Columbia later this year, with Bingz aiming for a total of 15 restaurants by the end of 2024, Meng said.
The success in Canada has encouraged Bingz to enter the United States market. A central factory is being built in San Diego to serve North America, with plans to open 10 restaurants in California by the end of 2025.
Bingz currently employs over 300 people in Canada and the US, with the number expected to grow to nearly 1,000 by the end of the year. "The US is seen as Bingz's biggest market outside China, with a target of 3,000 restaurants introduced in multiple five-year phases," Meng said.
The first five-year phase includes opening 300 restaurants with anticipated annual revenues of $4 million to $6 million.
Last year, Bingz also launched in Singapore, and rapidly became popular. Meng doesn't view Singapore as a market but as a regional hub for Southeast Asia, with plans to open more than 50 restaurants in the city.
Singapore's restaurants have also attracted customers from Malaysia and Indonesia, particularly for the chain's Butter Chicken Burger, Sizzling Chili Noodles, and Hong Kong Milk Tea.
Meng intends to extend Bingz's reach into Japan, Australia, and the United Kingdom in the near future, with the aim of entering 20 countries within three years. Packaged food products from Bingz are scheduled to launch in the second quarter of this year, targeting swift entry into the global market through offline channels like Costco and Walmart, as well as online platforms such as Amazon and Shopee.
Established in 2014, Bingz has experienced significant growth over the past decade. Meng's vision for the next five years is to see Bingz's emerge as a globally influential multinational chain and a distinguished ambassador of Chinese culture.
