U.S. Earl Enterprises planning on re-entering Thai market
Thailand is a mouth-watering Asian market too tasty to pass up for Earl Enterprise Corporation, franchiser of Planet Hollywood and other restaurants, as the managing director said last week the company is seeking a new master franchisee to re-enter the Thai market after leaving 15 years ago.
“In Southeast Asia, Thailand is a strategic country where we are looking to expand,” said Alex Garland, the company’s Managing Director for Europe, the Middle East, and India. “There used to be a Planet Hollywood in downtown Bangkok, and it received a warm welcome from the market, but it closed about 15 years ago after the contract ended. This is the right time for us to re-enter the Thai market.”
Earl Enterprise Corporation has quick-serve restaurant brands in its portfolio and one hotel. Garland said that the company would like to begin by franchising three of its restaurant chains in Thailand: Earl of Sandwich, Buca di Beppo, and Planet Hollywood. The plan is to open 20 Earls of Sandwich and 3 to 5 Buca di Beppo restaurants within five years.
Thailand’s food industry is worth $26.4 billion, according to Earl Enterprises’ research. Of the total, $12.1 billion is earned by street food, with full restaurants comprising $9.8 billion, and the remainder coming from coffee shops, bakeries, and quick-service restaurants, Garland said.
“I see huge potential for Thailand’s quick-service restaurants because of rapid urbanization,” Garland said. “Though we are a small brand, we are quite successful in the U.S., Europe, and the Middle East because we are different from others.”
Thailand will be the second or third country Earl Enterprises expands into if it can find the right partners, he said.
Photo courtesy of https://www.amazon.com/Bangkok-Thailand-Planet-Hollywood-Classic/dp/B00WP55YN6