The restaurant chain is owned and operated by the Panda Restaurant Group. [7], The Panda Restaurant Group, parent company of Panda Inn, Panda Express, and Hibachi-San, was founded by Andrew Cherng, Peggy Cherng and Andrew's father, Master Chef Ming Tsai Cherng. [58], "The Tao Of Panda - Panda Express Chinese Restaurant", "Panda Express Will Give Away Red Envelopes for Chinese New Year", "For Panda Express Owners, It's About Family (Published 2018)", "How Panda Express brings Chinese food to the mall", "Cherngs honored for contributions in L.A. area", "Cooking Up a Powerhouse of Chinese Fast Food", "Panda Express owner keeps early years fresh: Fear of no customers keeps Andrew Cherng focused at family-owned fast-food chain", "Orange Chicken, Panda Express' Gift To American Chinese Food, Turns 30", "Panda gains higher visibility for chain amid shift from malls, food courts", "DEATH OF THE FOOD COURT: Iconic mall chains like Cinnabon, Sbarro, and Panda Express are transforming to survive", "Panda Express Brings Fresh-Wokked Dishes to College Campuses; Restaurant Chain Expands in Non-Traditional Venues Including Six New University Locations in 2005 and More on the Way", "Andrew and Peggy Cherng of Panda Restaurant Group Receive City of Angels Award Honoring Contributions to the Los Angeles Area", "Panda Express: Self-Help Courses and Zumba Are Recipe for Success? [40], Although it's unknown when Panda Express had opened its first restaurant in Saudi Arabia, a second Panda Express in Saudi Arabia opened in Riyadh in January 2018. Prior to diving into whether you can invest in Panda Express, its important to understand what Panda Express is and how it became the giant it is today. Andrew and Peggy Cherng serving a guest who came in to support Family Day, a Panda Express initiative launched in partnership with 150 local food banks to fight hunger. The restaurant chain serves Americanized Chinese cuisine. He is also the co-founder of the company. [8] Panda Express restaurants were traditionally located in shopping mall food courts, but the chain now operates units in many other environments and formats, including stand-alone restaurants, as well as universities, casinos, airports, military bases, amusement parks and other venues. The couples son, Ryan, is the President of Panda Restaurant Group. In addition to Panda Express, the Panda Restaurant Group also owns and operates Hibachi-San and Pepper Lunch. Below is a list of additional companies that the Panda Restaurant Group owns: So, you cant buy stock in Panda Express, but youre determined to buy equity in another grocery store company. "We need to be at $2 million per store," he says. If you are able to franchise a Panda Express in the future, you can be assured customers enter hungry and leave very much satisfied. To that end, Andrea helps oversee Pandas Innovation Kitchen in Pasadena, not far from her familys original restaurant, the Panda Inn, founded by her father and her grandfather, Ming-Tsai. [12][13], Andrew went into business with his father in the United States in 1973, opening their first Panda Inn restaurant in Pasadena, California. Lets get into it. While we dont know exactly how profitable a Panda Express, generally speaking Chinese food is a profitable menu item. [36] The first Panda Express restaurant in the Middle East was open in Dubai in November 2014. Panda Express is a privately held company, so its exact net worth is not public information. Vanessa Hua is a freelance journalist in the San Francisco Bay area who blogs about multigenerational households at threeunderone.blogspot.com. Every business including Panda Express has its challenges. They do not allow franchising of their restaurant and they havent revealed any of their franchising fees and requirements. [25] In June 2013, it was announced that the restaurant chain will pay $150,000 to settle another EEOC action on behalf of at least three female teenagers who were allegedly sexually harassed between 2007 and 2009 by one male kitchen supervisor in Kauai, Hawaii. Panda Express and Fresh II are now open to serve you at gates 4/5! PANDA EXPRESS IS STILL FAMILY OWNED AND OPERATED. [15] A second location was opened two years later at the Westside Pavilion in 1985. The servings are generous too. To-go or not to-go? Two, it is hard to step away from the business because you are stepping away from who you are., Many family-owned businesses are creating a multigenerational business, Mr. Lachenauer said. Nicole Cherng is the manager of catering and special events while Andrea Cherng is the chief marketing officer. I even include what I view as advantages and challenges of the concept. We are building a culture on trust, and the aim of trust is love, said Ms. Cherng, 70. Take our 7-minute franchise quiz to find an opportunity that fits your goals and budget. Anyone can read what you share. [10] Andrew Cherng and his father are Chinese born, while Peggy was born in Burma and raised in Hong Kong. Jan 18, 2022. Her love forAmerican food and Japanese culture led her to create Kitsune Restaurant. 15% OFF Panda Express Coupons & Promo Codes April 2023 A leading-edge research firm focused on digital transformation. [28], As of 2017, the Panda Restaurant Group had annual sales of over $3 billion and close to 39,000 employees. Panda Express doesnt add MSG to its food, but learn about what MSG really is and whether it deserves its bad rap. [27] The first location in the state of Alaska was later opened in December 2015. However, both restaurant chains are owned by the same company, Panda Restaurant Group. Andrea Cherng, Panda Group Chief Marketing Office. The motivation for giving is part of their back story. Cant decide if you want to indulge in chow mein or keep it healthy with mixed vegetables? The Fortune 500 is a list of the largest publicly-traded companies in the United States, and Panda Express is a privately-held company. The 12-foot-high multi-million-dollar installation, with those four bright red letters made of aluminum, perches atop a fountain of flowing water. The giving back and paying forward is very important to us.. By participating in food donation programs, asking customers for monetary donations in Panda Express stores, and giving employees the option to donate a portion of their paychecks (90 percent of employees opt in), Panda Cares has raised $48.5 million for childrens hospitals and disaster relief. Instead of trying to beat the competition, become the competition! If youre curious about Panda Express, their operations, and how much they make in a year, below are more details regarding this popular restaurant chain. 2010-2018 Mobile Cuisine, LLC - All rights reserved. Panda Express has not filed for an IPO and likely will never go public on its own. Place your order using the Panda Express app and we'll scoop it hot and fresh in the store. Maybe you need to raise money to open more stores, or sometimes people go public because they want to have a little bit more money. Plus, the Panda Tea Bar is a new feature thats cropping up at some Panda Express locations, allowing customers to order customizable teas and juices, with optional wholesome add-ins like aloe vera and chia seeds. Cebrzynski, Gregg, 'Panda Express Breaks TV Ad Campaign as Test to Raise Brand Awareness,' Nation's Restaurant News, August 9, 1999, p.11. History of Panda Express Panda Express was founded in 1983 by Andrew Cherng and Peggy Cherng. People may know in the back of their mind, but I dont want to indicate it.. [32], Panda Express also operates in Canada, Saudi Arabia, Guatemala, Japan, Mexico, El Salvador, Philippines, South Korea and the United Arab Emirates. We must push and stretch each other., Associates who work in Panda Express restaurants wear uniforms with the Chinese proverb: Make happy those who are near and those who are far will come., When I saw the LOVE sculpture, it made me think life is tough, life is difficult, said Mr. Cherng, 70. Take our 7-minute franchise quiz to find an opportunity that fits your goals and budget. Andrew and Peggy Cherng, Founders and Co-CEO of Panda Restaurant Group, America's largest family-owned restaurant company. The franchise fee starts at $45,000 for a single unit, $99,000 for a standard 3-pack franchise, or $150,000 for a 5-pack platinum franchise. In the beginning, the restaurant chains were mostly found in food courts in malls. The company is currently the largest Asian restaurant company in the United States. Right now, he explains, Panda is averaging about $1.4 million in annual sales at each of its 485 California locations. Thank you @LA_mag for your profile on our family-owned story. What is an alternative Panda Express franchise? Famous for its orange chicken and chow mein, it has over 1800 locations and 27,000 employees around the world. The restaurant also gives away fortune cookies with uplifting notes on inscribed on them. Cherng implemented tracking inventories as well as a computerized system for reordering ingredients which made the business process faster and easier, something that other Chinese-American restaurants werent practicing during those times yet. [53] As of August 2022, were nine restaurants in the country. Should You Open a Wahlburgers Franchise w/ Locations Closing? ROSEMEAD, Calif., Dec. 13, 2022 /PRNewswire/ -- Today, Panda Express , the largest family-owned and operated Asian dining concept in the U.S., launches the first nationwide Lunar New Year. "Our family has always believed that good fortune is meant to be shared, said Peggy Cherng. Learn more. According to their website, theyve sold over 80 million pounds of orange chicken since 2016. Revenue: $1 to $5 billion (USD) Competitors: DD Factor, The Rose Group. Later that year, Panda Express opened its first location in the western Pacific by opening a location in the American territory of Guam. With that background, were able to respect each other and leverage each other, said Peggy Cherng, 67, an electrical engineer who used to code simulators for the U.S. Navy. At Panda Restaurant Group, we are committed to diversity and inclusion. You should be aware of these as a possible franchise owner in the future. The first Panda Express was located in Glendale Galleria in Glendale, Calif. Peggy Cherng has a Ph.D. in Electrical Engineering and an M.S. Husband and wife co-founders Andrew and Peggy Cherng still own and run their privately-held company, The Panda Restaurant Group. If youve ever donated money to Panda Cares (Panda Groups charity for childrens hospitals, schools, and disaster relief) after ordering, you probably heard a bell go off near the register. Find out what the first locations of famous fast food restaurants looked like. Now the sweet and tangy orange chicken is a staple in American Chinese food. The company also owns and operates other restaurant chains such as Hibachi-San and Pepper Lunch. It is about overcoming the difficulty. Cash Flow Statement #Cravings pic.twitter.com/ZN2CGF7zeJ. [11] Both Andrew and Peggy Cherng are alumni of Baker University in Baldwin City, Kansas (where they first met). 2023 Panda Restaurant Group. The Rosemead-based firm, which owns Panda Express, operates 1,800 eateries and employs 26,000 people. The company has since grown to over 2,000 locations across the United States and Canada. Before joining Panda Express, she developed software for 3M and McDonnel Douglas aerospace manufacturing, plus did coding for the U.S. Navy. Manage Settings You have consistency. Peggys background in engineering and software design gave Panda Express a technological advantage. The following guide answers the question: Can you Buy Panda Express Stock? The consent submitted will only be used for data processing originating from this website. Is the Christian Pizza Ranch Franchise Really Worth Investing In? The privately held company reached $2.2 billion in revenue last year, nearly doubling in. The college sweethearts got married in 1975and 43 years later, theyre still together! Chef Andy Kao claims to have developed the original Chinese-American orange chicken recipe at a Panda Express in Hawaii in 1987. Panda is putting the spirit of its extended family in action. An example of data being processed may be a unique identifier stored in a cookie. What the Total Cost (w/ Fees) to Open a Boiling Crab? Most Chinese restaurants can markup their dishes 3 4 times food cost. Panda Express traces its history to 1973 when Andrew Cherng and his father opened Panda Inn in Pasadena, California. It is also not possible to purchase stock in its parent company, Panda Restaurant Group, as the company has remained private as well. The fast-casual category has grown seven to eight percent each year, even though the restaurant to industry overall has been stagnant, according to the NPD Group, which tracks industry trends. We and our partners use cookies to Store and/or access information on a device. In recent years, a number of lawsuits have been filed. In 1973, with the help of his father, Ming-Tsai Cherng, a chef, he opened his first restaurant, The Panda Inn in Pasadena, Calif. For me, my biggest business challenge was going from zero to one store and surviving that, Mr. Cherng said. Panda Restaurant Group, Inc., parent company of Panda Inn, Panda Express and Hibachi-San, was founded by Andrew and Peggy Tsiang Cherng [4] and Andrew's father, Master Chef Ming-Tsai Cherng, the family originating in the Yangzhou region of China's Jiangsu province. History of Panda restaurant Group are building a culture on trust, Panda... Your profile on our family-owned story when Andrew Cherng and his father Panda... 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