P&G Lures Panda Express Restaurant Founder In Dry Cleaning Push

Bloomberg:

Procter & Gamble Co. is no longer content just to sell detergent to wash your clothes — it wants to dry clean them, too.

The world’s largest consumer-products company plans to roll out franchised Tide Dry Cleaners across the U.S. The strategy could be a hit, says one franchising veteran.

Andrew Cherng, founder of Panda Restaurant Group Inc., which operates Panda Express Chinese fast-food outlets in malls around the country, says he plans to open about 150 Tide-branded dry cleaners over the next four years.

“I wasn’t around when McDonald’s was taking franchisees,” Cherng said in a telephone interview. “I’m not going to miss this one.” Read more.