Chapter 662: The Hidden Giant: The Rapidly Expanding Fairytale Town
In Zhucheng, the Qingyao Paradise project started construction quickly.
The day after the land was acquired, the entire project began. Although the entire park was still under design, the basic construction had already begun.
The first thing to do is build roads. Roads are essential for greater convenience, so building roads, bridges, and utilities like water, electricity, and gas are essential. Furthermore, high-quality construction is essential. With such a large park and the expected influx of visitors, a lot of things are needed.
To make it more convenient for everyone to visit, Zhucheng City has directly requested permission to build a new toll booth on the highway and then constructed a free expressway directly to Qingyao Paradise. In the future, people who drive here can just exit the toll booth and take the expressway to Qingyao Paradise in just over ten minutes.
At the same time, Zhucheng has also built a road from the main urban area to the theme park. In short, in the future, transportation to the theme park will be very convenient.
A massive construction team was on the move, and large-scale machinery was constantly arriving. The construction site was bustling with activity, with the foundation work taking precedence. Qingyao Group had already begun designing and constructing the various amusement facilities. The original purpose of establishing the Fairy Tale Town brand was to lay the foundation for this.
But now, the Storybrooke brand is developing very well, not only with very good sales, but also with a very fast expansion speed.
A new meeting is being held in the conference room of Storybrooke.
The new content of the meeting is about the third round of large-scale construction of stores.
Storybook Town has already completed two rounds of large-scale expansion, and the results have long exceeded expectations. Especially after the Qingyao New Year Goods Festival, the Storybook Town brand's reputation has further expanded, with a significant increase in traffic to each store.
This has accelerated the expansion of Storybook Town, which now has thousands of stores across the country and employs over 10,000 people.
"Our next goal is to complete our final plan before the end of this year. That is, every county-level administrative district has at least one of our Fairy Tale Town stores. By the end of the year, the total number of our Fairy Tale Town stores nationwide will reach 3,000..."
Sun Hao spoke seriously. As the head of Storybook Town, Sun Hao had been incredibly busy recently. Before the Lunar New Year Festival, Storybook Town had begun expanding. Store traffic and sales were very good. After the festival, sales were even more exaggerated.
At the same time, Qingyao Selection, the official store of Storybook Town, the official flagship store of Storybook Town, and offline stores are fully connected. The product prices are the same, and you can pick up the Storybook Town items you bought online directly in the physical store.
If you don't have time, offline stores can deliver directly to your door. This strategy makes shopping more convenient. StoryBible, on the other hand, focuses on affordable boutiques, offering high-quality products at affordable prices. Simply put, it's about small profits but quick turnover.
Once Upon a Time's advertising and marketing investments are relatively modest, a significant expense for a clothing brand. However, due to its inherent brand image, Once Upon a Time's advertising and marketing expenditures have been significantly reduced. This reduction in expenditures has allowed the brand to pass on more profits to consumers.
Besides the products of the Once Upon a Time brand, the real profit maker is the amusement park in the Once Upon a Time. The stores in the Once Upon a Time are large, the service is good, and the attractions are suitable for children.
So now many parents like to take their children to the fairy tale town. For example, when they go shopping, they can just spend a few dozen dollars to leave their children in the fairy tale town. They can go shopping with peace of mind. The children are very safe under the care of the staff, and it is very convenient for the children to find them.
Furthermore, they can connect their phones to the cameras in Storybrooke stores and monitor their children's progress. This has led to a growing number of parents placing their children in foster care. Children also enjoy playing here, with fun activities and a large group of friends nearby. There's food for hungry children and drinks for thirsty children.
Children can also wear smart bracelets while playing, allowing them to video chat with their parents at any time. Some parents, busy with work, simply leave their children in Storybook Town for the day. After all, a single ticket to Storybook Town is enough for a full day of fun.
As for the items that children consume, they are all clearly marked with prices, and staff will contact and communicate with the children's parents before the children make any purchases.
Under this model, the customer flow in Fairy Tale Town is frighteningly large, and the profit of each store is also frighteningly high. Now the average net profit of each store is as high as 200,000 per month.
This figure is the net profit, excluding rent, utilities, employee salaries, and even equipment depreciation.
Such profits are quite considerable. A store can guarantee an average annual net profit of two million.
What's more, the wages in Storybook Town are relatively high, and it can guarantee a profit of two million per year. I wonder how many people are jealous of this business.
If the store expansion to 3,000 goes according to plan, and if the single-store profit can be maintained at this level, it will be incredible. By then, the annual net profit will be 6 billion.
For a mass clothing brand, it is incredible to have a profit of 6 billion a year.
"Once the store expansion is complete, our Storybook Town will plan to go public domestically..."
Sun Hao said with a smile, and this sentence made everyone's eyes light up.
Going public, domestically. For many companies, going public seems to be the ultimate goal. And for these executives, the same is true, because they have equity incentives, and after going public, they will get more.
For Once Upon a Time, a IPO would allow it to expand its business and generate more capital. This money would allow Once Upon a Time to accelerate its store expansion and expand its overseas market. After all, Once Upon a Time's advantage lies in its extensive IP licensing.
Although the subsidiaries are now relatively independent, the price that StoryBible gets for its own IP license is relatively affordable, and it is given priority supply.
For example, Transformers toys, Once Upon a Time also has this type of toys now, and they are officially licensed toys, but the cost of these toys is relatively low and the price is relatively cheap.
The more expensive Transformers toys are made of metal, while the Transformers toys from Once Upon a Time are made of engineering plastic. Different costs lead to different prices.
"Everyone, work hard. Perhaps our Fairytale Town will become the first listed subsidiary of our Qingyao Group."
Sun Hao's eyes were filled with anticipation. The company's subsidiaries were operating independently, preserving their future IPOs. Fairytale Town would serve as the first pilot program, allowing the brand to be listed domestically to see how much capital could be generated. The government had high expectations for Qingyao Group, and more subsidiaries would be listed domestically in the future, serving as a reservoir for further capital.
Continue read on readnovelmtl.com