After the rise of the real estate industry, home appliances, kitchen and bathroom, decoration and other industries followed closely behind. According to statistics, the kitchen and bathroom market in the first half of last year reached 72.6 billion, an increase of 25.8% year-on-year. Many of these listed kitchen and bathroom companies have handed over gratifying report cards, but one unlisted company is known as the dark horse of the kitchen and bathroom industry, which is a well-known brand - Fangtai.
Fangtai is favored by Chinese families
Nowadays, many families will take the lead in thinking of Fangtai when choosing kitchen and bathroom brands. Fangtai's main kitchen and bathroom products include range hoods, dishwashers, etc., which are all needed by modern families. Fangtai is not listed, insists on not fighting a price war, and the main reason why it can have a place in the industry is good quality.
According to statistics, in the past two years, many kitchen and bathroom brands have been affected by the epidemic, and their revenue has shown a downward trend, and even some brands have directly announced their closure, but Fangtai has achieved contrarian growth. In 2020, Fangtai's revenue reached 12 billion yuan, an increase of 10% year-on-year. By the first half of 2021, revenue increased by 64% year-on-year.
History of father-son soldier entrepreneurship
The reason why the Fangtai brand is so successful is inseparable from the efforts of a father and son. Founder Mao Lixiang was born in Ningbo, Zhejiang Province, and chose to start a business at the age of 45 and established Cixi Radio Factory, which is mainly responsible for the production of black and white TV parts. However, the later development of this power plant was not ideal, and in desperation, Mao Lixiang chose to change his career to develop a musket and founded a flying company. The company's development is quite optimistic, and it is highly sought after by foreign investors. However, Mao Lixiang was entangled in his heart, and he was worried that the competition in the musket market would become more and more fierce, and the profits would be greatly reduced in the future. With this in mind, Mao Lixiang endured the pain of cutting love and decided to transform again.
Just at this time, Mao Lixiang's son Mao Zhongqun was about to graduate with a master's degree, and after hearing about his father's idea, he decided to contribute to the company. With the support of his son, Mao Lixiang is full of confidence. Father and son soldiers, the two joined hands to start a second business, and soon found a new business opportunity, that is, the kitchen and bathroom industry. At that time, most of the production of the market was a single product, so the father and son decided to conquer the range hood market. In this way, Fangtai Group was established.
In the early days of its establishment, the scale of Fangtai Group was not large, and the father and son also held the mentality of trying. But I did not expect to quickly cause a fierce response from the society, and there were also many competing brands, which have started a price war. However, Mao Lixiang's father and son ignored it and insisted on focusing on technology. Finally, with excellent technology, we have continuously expanded our scale and formed our own technical team, which will spend 5% of its revenue on technological innovation every year.
The father and son know how to keep pace with the times, see the expansion of the kitchen and bathroom market, and continue to understand the family in depth, found that can not be limited to the range hood, so the later launch of dishwashers, built-in microwave ovens and other products. Seeing that the group has developed so far and achieved such achievements, Mao Lixiang's father and son refused to go public, still hoping to stabilize the quality of the brand, so as to retain the hearts of customers.
There are great risks in starting a business, and in order to improve the probability of success, the most critical thing is to have strong funds, networks, and business acumen. The current era is developing so rapidly, only by making products that conform to the development trend of the times can we gain a firm foothold in the market.
Now many young people are not willing to work for others, always thinking of starting their own business as a boss. It is good to be self-motivated, but you also have to take into account your actual situation and see if you have the conditions to start a business. You can't go to the bank to get into the bank loan, but you find that you don't have a technical team and you don't have an advantage in the market, and the result is that you can't even earn back.