The U.S.-based Hard Rock plans to open hi-end cafe shops in Vietnam by master-franchising the name to a local partner, vice president of Hard Rock Oliver Mundo said yesterday.
Hard Rock vice president Oliver Mundo and James Cavalaris, director for Asia Pacific franchise development and operations of Hard Rock, met the Vietnam Franchise Club yesterday in HCMC to find a master franchisor for the company’s plan.
“We have decided to open Hard Rock Cafe shops in Vietnam. However, we still look for a right partner to franchise our business,� Mundo said.
“A master franchisor has to pay to Hard Rock from US$200,000 to US$1 million for the initial fee, in addition to 1% of total revenue for promoting the brand, 5% of food revenue and 10% of clothing and gift revenue,� he said.
According to him, some 35% of total revenue of a Hard Rock Cafe shop comes from
clothing and gift business.Hard Rock’s policies permit its partner in Vietnam to open only one Hard Rock Cafe shop in each city.
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