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| Wang´s fried dumplings |
They are unhealthy, cheap and dirty but an unavoidable delicates, when I´m in Shanghai:
Yang´s dumplings. Author Mario Cavolo, one of our speakers I met the other day, dedicated a paragraph of his upcoming book on the hidden trillions in fortunes of China´s middle class to Yang.
Mario Cavolo:
...One such shoddy restaurant shack along Wujiang lu was the original location of “Yang’s Dumplings”, in Chinese known “Xiao Yang Shen Jian”, which are pork- filled dumplings fried crispy on one side only in a big, round, flat cast iron pan. Mr. Yang’s shack seemed to have a perpetual line of customers seven days a week and my friend Jeff recalls the day he decided to sit across from Yang’s shoddy shack to actually count how many orders went out in an hour’s time. His count was around 300. Back to Sherlocks’ use of deductive reasoning and calculation, I safely conclude that Mr. Yang’s dumplings sells at least 1000 orders per day seven days per week at 4rmb – USD $75 per order. That revenue totals 120,000rmb or USD $20,000. The space was no larger than 15 square feet, so the rent could not possibly be more than $750-$1500/month and the cost to pay six full time employees at $300/month each equals $1800. Finally, we assume a standard 30% food cost; add up all those easily recognize expenses to less than
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$10,000/month, leaving at least $10,000/month in profit, year after year.
Not, I gather, what most of us were thinking when first pondering a tiny, old, hole in the wall dumpling joint of which similar hundreds of thousands of dumpling and noodle shops are scattered all over the country.
Yang´s Dumplings have meanwhile proliferated all over Shanghai. I have seen outlets at Nanjing Xilu, and Zhongshan Park and a few other places. It only reenforces Cavolo´s argument, as their earning power has increased.
Mario Cavolo is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference, do get in touch of fill our speakers´ request form.
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