Wowprime

In 1993, Wowprime, a leading Taiwanese restaurant group, was found by Steve Day when he decided to move out of the family business in 1993. Steve Day, a founder of Wowprime, rebelled from his family business to follow his business dream. He opened his first restaurant, Wang Steak, in in central Taiwan due to the low rents. In Day’s business point of view, customers come first, employees second, and third is shareholders. After trying to be in several lines of businesses, Day decided to open Wang Steak, the high-end steak house in Central Taiwan. Due to its the success with Wang Steak, Day opened couples of branches of Wang Steak and decided to open two more steakhouses to target the bigger segments of customers. Day continued his strategic brand development with the further expansion, from a single brand strategy to the multiple brand strategy. To be able to enjoy economies of scale, Day realized that he had to create the different value propositions that offered different groups of customers with the different cuisine types. Till the end of 2011, the Wowprime group has offered 170 restaurants under 10 different brands for customers in the different age groups, income, professional categories, and purpose of dining. Furthermore, with its success in Taiwan, Day decided to go internationally and tried to gain the main target customer group of the new coffee chain.
Taiwan’s restaurant industry
Taiwan, an island located in East Asia, has a small market size which limits the ability for a single product or service to achieve economies of scale. However, it is prosperous for retail businesses, especially restaurants because of its population density. The restaurant industry is divided into three broad categories: 1. Low-end restaurants which operate on street-side and uses inexpensive ingredients. 2. Mid-level restaurants which provide personalized service and offer value for customers. 3. Hi-end restaurants which offer luxurious environments and exceptional