This article only represents the author's own views.
If China’s pricey Michelin-starred restaurants have suffered during the current economic downturn, then the opposite is true for discount snacks, especially in the nation’s smaller cities. Such cities were traditionally overlooked by big multinational convenience store chains like Lawson and 7-Eleven and, even got short shrift from home-grown giants such as Easy Joy, Tianfu and uSmile.
Busy Ming Group Co. Ltd. has buzzed into that gap quite comfortably, and is now testing capital markets with a plan to become the first in its class to list in Hong Kong. Its formula of operating franchised stores offering super cheap snacks has been a runaway success, following its formation in 2023 through a merger between the Busy for You and Super Ming chains. Both chains were quickly expanding at that time, attracting franchise partners with their low startup costs, including low-rent locations and strong support from the parent companies.