On April 23, Luckin Coffee answers most concerned questions for becoming its retail partners.
Since restarting the recruitment of new retail partners (hereinafter referred to as “partners”)
There have been enthusiastic responses from the market and an endless stream of applicants
As of the end of December 2022, the number of Luckin Coffee joint venture stores exceeded 2,500, covering more than 230 cities
In January this year, we started a new round of recruitment plan and expand the scope to 15 provinces
So how can you become a Luckin Coffee partner?
Own a coffee shop of your own? The answer is as follows:
What are Luckin Coffee’s recruitment requirements for partners?
Applicants need to meet the following requirements:
1. Love coffee, agree with Luckin’s corporate culture, and be willing to grow together with the brand;
2. No criminal or dishonesty record;
3. College degree or above;
4. Sufficient capital reserves and anti-risk capabilities (more than 1.5 million capital certificates are preferred, and deposits, securities, etc. are all in line);
5. Those with certain catering experience are preferred;
6. Possess conditions such as market pioneering spirit and good operating resources.
On this basis, regional branches will conduct interviews and credit review of potential candidates. After passing the interview review, the applicant can become an intended partner qualified for site selection and submission.
Is the recruitment and review mechanism of Luckin Coffee partners transparent and fair? Is there a differentiated review for existing partners and new applicants?
In strict accordance with the company’s relevant recruitment policies, adhering to the attitude of being responsible to partners and the principle of fairness and impartiality, we conduct a comprehensive evaluation of applicants around the dimensions of capital reserves, anti-risk capabilities, and catering operation management capabilities. Whether for existing partners or potential candidates, the company adopts consistent review standards. Recruitment information and application process can be queried on Luckin’s official App. If the applicant encounters unfair review, he can send an email to email@example.com to report and complain.
Will Luckin Coffee give priority to applicants with high-quality site selection and high-quality resources?
Applicants must meet the above basic requirements. At the same time, we also welcome partners who have high-quality points and relevant market resources in the expanding cities, have rich experience in catering management, and have mature development and operation teams to join the joint venture family and provide consumers with “high-quality, high-convenience, and cost-effective” products and services.
What is the profit distribution mechanism between Luckin Coffee and its partners?
In order to help new retail partners reduce business risks, Luckin does not charge any franchise fees, but adopts a step-by-step profit sharing method-after deducting raw material costs from product revenue, 100% will be returned to partners as product gross profit; Only when the gross profit exceeds a certain level, a certain percentage of the profit will be allocated from the excess.
At the same time, the company will also provide partners with a phased and more favorable fee settlement plan on the basis of the original contract depending on the situation, and the details are subject to the signing of the contract.
|Monthly gross profit of merchandise||Gross profit ratio of ready-to-drink product return||Gross profit ratio of purchased pre-packaged goods return|
|0~20,000 yuan part||100%||100%|
|20,000 to 30,000 yuan||90%||100%|
|30,000 to 40,000 yuan||80%||100%|
|40,000 to 80,000 yuan||70%||100%|
|More than 80,000 yuan||60%||100%|
The contract period of Luckin Coffee’s new retail partners is 3 years. What is the renewal policy after expiration?
Luckin Coffee adheres to long-termism and hopes to grow together with partners to achieve long-term mutual benefit and win-win results. About 6 months before the contract expires, the system will automatically remind the partner to initiate the renewal process, and the regional investment manager will also remind and assist the applicant to complete the online renewal process. In line with the company’s development plan, there is no violation of regulations or breaches of contract, the operation level and profitability are up to standard, and the joint store can successfully complete the contract renewal. As of the end of March 2023, 636 Luckin Coffee affiliated stores have completed contract renewals, with a renewal rate of 97%.
In January of this year, Luckin Coffee announced a new round of recruitment list. Except for the cities on the list, will other regions that already have joint stores still recruit? What is the policy to deal with “old cities”?
In all cities that have opened joint stores, applicants can apply for investment retention through the Luckin App and official website. The company will dynamically adjust the pace of recruitment according to the development of the local market and the speed of store opening to ensure the high-quality operation and healthy development of the joint stores. If the area you choose is temporarily saturated, applicants can register first to stay and pay attention to the recruitment dynamics. When opening the recruitment of partners in the expansion city, applicants who have already registered (not yet reviewed) will receive a text message reminder, download the Luckin Partner App according to the content of the text message, and fill in further information to enter the review process.
【2023 New Round】 Recruitment of Luckin Coffee Partners is open!
For “old city” recruitment status
Please pay attention to the update of Luckin’s official app investment promotion H5 page
In the future, Luckin Coffee will open more cities one after another, so stay tuned
Thank you for your love and support