I thought Panda Express was a money laundering shell Corp, never known anyone that ate there. You guys are brave and really hungry
It’s a private company. I don’t particularly care for the food, but am very familiar with Panda Express and know the Cherng (owners) family. The PE concept has made the Cherng’s billionaires. They are very smart business people!
In addition to healthy unit level economics and systemwide numbers, real estate holdings make up a huge chunk of their wealth. Back in the 80’s/90’s they made owning real estate part of their expansion strategy. Many of their units are operating in and/or on property owned by the Cherngs.
Lastly, they are great operators...run a very tight ship. While I don’t like the food, I can absolutely appreciate how well their restaurant units are run. My guess is that WAWI and anyone else who’s worked for an expanding restaurant know all too well how difficult expanding can be...let alone, expanding up to 2,000 restaurants.