Minority Business – Minority Owned Business

In a highly saturated fast-food industry, the Asian owned Panda fast food enterprise is conquering the taste buds of Americans with gourmet Chinese cuisine. Andrew Cherng (626-799-9898) started the enterprise with his father in 1973. With a SBA loan they set up their first restaurant, Panda Inn, in Pasadena California. Ten years later, an opportunity to move their high-end restaurant into a fast-food setting became available, and Panda Express was born. Andrew’s wife joined the company, after a successful career with Hughe’s Aircraft and the two of them took the business to the top. Today, PANDA RESTAURANT GROUP, has four restaurant chains, the original Panda Inn: its clone fast food Panda Express, the newly added Japanese restaurant chain Hibachi-San, and the convenient order-to-pick-up Panda-Panda. The company grosses over $400 million in sales, has over 6,000 employees and has close to 500 locations. Their goal is to own 10,000 locations in their lifetime.

Duration : 0:5:25

(more…)

Technorati Tags: andrew cherng, express, fast food, panda, panda express, peggy cherng