Htet, a member of our 2016 30 Under 30 list, started the business with $25,000 of his own money, which he earned importing secondhand Japanese cars into Myanmar. Breaking even since day one, RTH Group aims for 20% net profits. In 2016, private equity partner Anthem Asia joined as a minority investor to fuel local expansion. The dream: to take the concept abroad within three years. While he doesn’t rule out an IPO, he’s happy as an owner: “I love the restaurant business, I am a people person.”
Still, competition is tough. When Rangoon Teahouse opened its doors in 2014, downtown eateries were scarce. Today 15 restaurants and two five-star hotels operate nearby. “Yangon is a very competitive place,” Htet admits, noting that retaining customers and staff is a constant concern. “The market is still not big enough.”
Source: Forbes
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