Nine restaurants opened in ten years and an expansion plan that in 2024 will lead to the opening of new Little Thai locations throughout Spain. That’s the path to success for a company born in Valencia that serves Thai-fusion cuisine in its own establishments and also through home delivery. CEO Christian Herrera explains the keys to their business and why they’ve started working with Kaizen Consulting to obtain financing: “In our case, the speed of response was key; due to their promptness and professionalism, I recommend any company with liquidity needs to turn to them.”
– This year you opened the first Little Thai outside of Valencia in Castellón. How has your growth been?
– It’s the ninth Little Thai restaurant. We started in Valencia and have been gradually expanding the brand. In ten years of operation, we’ve opened six restaurants in Valencia, one in Castellón, another in Torrent, and the latest, at the end of 2023, in L’Eliana. We’ve been growing as demand increased and in a sustained manner.
– What is the key to your success in such a competitive market?
– Having a good product, of the highest quality, at affordable prices. Our restaurants are accessible to everyone, especially young people. We aim to provide good service while maintaining an excellent balance between quality and price. We offer healthy Thai-fusion cuisine, with top-notch ingredients, and provide the option to dine in our restaurants or order takeout.
– Did the home delivery service help you overcome the pandemic?
– Yes, undoubtedly. It was a very tough, very complicated time. Thanks to our experience and capacity in home delivery service, we were able to overcome it and continue working. Since then, we have continued to grow, and currently, 70% of our revenue comes from home delivery service.
– Why did you turn to the services of Kaizen Consulting?
– We assumed the launch of the new restaurant in Castellón a few months ago entirely with our own resources. There came a point where this was depleting our capital somewhat, and we decided that we wanted to have financing to work comfortably in our day-to-day operations. We wanted a quick solution, so we decided to seek external help from Kaizen Consulting. In our case, the speed of response was key, and we managed to secure the credit we needed in a very short time. They provided us with the solution we were looking for; due to their promptness and professionalism, I recommend any company with liquidity needs to turn to them. To obtain financing, we have found that it is better to turn to specialists like Kaizen Consulting, who take care of finding solutions for you, handle the procedures, and accompany you throughout the process. We are very satisfied with their team’s work.
– Did they also propose any new financial formula?
– Yes, in addition to the bank loan we formalized, they proposed a formula we had never used before, which also provided us with liquidity using our own resources. We entered into a rentback operation using the kitchen we acquired and installed in our latest restaurant. We had never used it before, and it is a possibility that I was unaware of: using your own assets to obtain financing and continue using them under a renting regime.
– What is the future plan?
-Our goal for this year and 2025 is to expand beyond the Valencian Community and reach other parts of Spain. We are considering openings in other regions soon, and the medium-term project involves franchising Little Thai. We need to work on this plan, but we believe we have a solid and tested model that can work well as a franchise. Our future idea is to expand nationally.
