If Morio Sase has his way, hungry teenagers around the world will soon be snacking on something more exotic than McDonald’s hamburgers: takoyaki, or octopus dumplings.
If you always wanted to own your own unique franchise, this might be it.
With more than 350 takeout stores in Japan, Hong Kong and Taiwan already, Sase’s Gindaco chain is one of a barrage of fast-food companies bringing lowbrow Japanese chow to overseas markets. Its first U.S. store is scheduled to open in Los Angeles in 2007, and it hopes to open 20 stores in California by 2010.
But it's not just a business marketer looking to open new markets. This is being driven by very real market pressures.
Government figures show nearly one in five Japanese were aged 65 or older in 2004, and the domestic food restaurant market has declined for seven straight years since 1998, according to the Food Service Industry Research Center.
So where better to set up shop than the good old US of A.
A study by research company MarketResearch.com found that total Asian and Indian food retail sales across all sectors — from ethnic markets to convenience stores — jumped 27.3 percent to $3.3 billion between 2000 and 2004.
We've got the economy and the appetite to support a lot more girth, err, growth.
The U.S. fast food industry as a whole continues to expand, which means plenty of opportunities for newcomers, (Maria) Caranfa (food industry analyst at Chicago-based consumer research company, Mintel Group) said. The National Restaurant Association forecasts that quick-service restaurants in the U.S. will reach $142 billion in sales in 2006, up 5 percent from the previous year.
So, watch your local mall for new and exciting things.
“We’re finding that American teenagers and younger consumers are more adventurous with their food choices than their parents might be,” Caranfa said. “I do think even octopus could catch on.”
Uhhh, sure....
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