Just Kitchen Holdings Is First Cloud Kitchen Company To Go Public
Just Kitchen Holdings ((TSXV: JK), is another firm that is in the cloud kitchens industry. The cloud kitchen industry is field that is quite literally an emerging sector that is led by other firms such as Cloud Kitchens, Travis Kalanicks’s new firm.
Firms spring up and offer ghost kitchens to a variety of restaurant brands allowing them to have space and infrastructure to set up restaurants at lower costs. Companies like Just Kitchen Holdings Corp. operate the the entire infrastructure and enable upstarts to create food and have it delivered to local patrons within a specific radius.
Just Kitchen operates in Taiwan, and seeks to expand its offerings across the country. The firm was founded in 2019 and recently went public in April 2021. According to other outlets, at least 50% of its current shares are owned by founders, company management, employees, and institutional investors.
Just Kitchen Acquires Virtual Branding Rights to Formosa Chang
The firm is staying is busy as it seeks to ensure value and keep a competitive edge in a tough and challenging market. The recent acquisition of the brand is a value add to the firm as it shows that it can partner with restaurants that have been in business for over 40 years. Indeed, working with household names like Formosa Chang shows that the firm is adding to its credibility and appeal across Taiwan. Just Kitchen and Formosa Chang will partner up and have delivery only rights for one year as both firms work to understand the effectiveness of the relationship.
“We are extremely privileged to be able to showcase Formosa Chang’s storied brand, which has never been licensed on this basis before, and offer its classic food items on a virtual basis to our growing base of delivery-only customers. The combination of JustKitchen’s unique hub-and-spoke operating model and technology-enabled ghost kitchens, with Formosa Chang’s position as perhaps the top casual food brand in Taiwan, provides a great opportunity for us to scale up our businesses together,” noted Jason Chen to Sentry Hill.
Meanwhile, Just Kitchen aims to grow to more spokes over the new few years. It is setting its sights on North America, HK, and the Philippines.
The Just Kitchen Business Model
Firms like Just Kitchen have a hub and spoke model where general meals are created at larger hubs and final meal prep takes place at smaller spoke kitchens. Finally, these firms will combine their kitchen infrastructure with their mobile applications, marketing, and delivery to offer a full service value chain.
The firm also operates JustMarket, an e-commerce delivery platform to add more value to those who order from Just Kitchen’s various food offerings.
