Forbes: CKGSB Alum is Entrepreneur to Watch
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
Forbes: CKGSB Alum is Entrepreneur to Watch
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
Forbes: CKGSB Alum is Entrepreneur to Watch
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
Forbes: CKGSB Alum is Entrepreneur to Watch
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
When Zhu Guofan, tired and emotionally drained, gave up his 50% stake in over a thousand foot-massage parlors in 2004--leaving his company with just three shops--it could have signaled the end of Liangzi, the chain he founded in 1997.
...
"It was an important move for Liangzi to give up the franchises," says Wang Yijiang, associate dean at Cheung Kong Graduate School of Business, which has just completed a case study on the company. "The worries that plagued the industry as a whole all existed in the franchises. Zhu had basically lost control of the business and this was a move to clean it up."
While he completed an executive M.B.A. at prestigious Peking University in 2002 and spent time at Cheung Kong in 2009, most of Zhu's business practices were picked up on the job, starting at a young age. He was operating a small food stand by age 13, quickly moving on to hole-in-the-wall restaurants in Xinxiang. With ten of them to run, his story goes, he was exhausted every day from the early starts and late closings and needed the afternoon to relax. One day he stumbled across a beauty parlor that offered a foot-bathing service.
Read more
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