How is Shark Minh Beta's chain of cinemas doing business?

(Dan Tri Newspaper) - Beta Media is the business of 9X entrepreneur Bui Quang Minh - often known as Shark Minh Beta since participating in the Shark Tank Vietnam program.

Shark Minh Beta's cinema chain has just introduced the first cinema franchise model in Vietnam, amidst a booming entertainment industry.

The first franchise model in the theatrical film industry.

Speaking about this first franchise model, Mr. Duong Hoang Phuong - Director of Franchise at Beta Group - said that the Beta franchise model has been in operation since 2019. Beta commits to a payback period of 3 to 5 years, while simultaneously supporting partners with media, materials, film catalog, business consulting, and operational management.

According to him, the biggest challenge lies in the investors' trust in the Beta teams currently operating. This is not just a specific issue, but a common problem for franchise models, where investors and franchise partners do not fully trust each other.

"Saying 100% might be an exaggeration, but the higher the trust rate, the lower the risk. My partners and I have done a lot of research and concluded that transparency and clarity are essential. Transparency here isn't just about the numbers in financial reports and then investors closing deals and receiving their money. Transparency here means demonstrating to partners that the indicators are real, that the reports are audited, and that they are submitted to government agencies," said Mr. Duong Hoang Phuong.

On the partner side, Mr. Le Tran Minh Huy - Director of Uyen Hung Media (the investor of Beta Tan Uyen) - shared that initially, when Beta presented their financial reports and revenue commitments, he was hesitant about whether they could actually be realized. Now, after the partnership, he has proven their capabilities and is present here to share his experience.

The cinema chain he signed a franchise agreement with has been operating for over 3 years now, has recouped over 80% of its investment, and is preparing to sign an agreement for another new cinema complex in Thu Dau Mot.

"The franchise model also has certain initial conflicts in controlling and operating the brand. We are not familiar with that field, so we franchise and Beta handles everything from branding, market research, decoration, staff training, etc., the investor only provides the money. However, during operation, certain conflicts will arise. Resolving these conflicts so that both sides can sit down and work together will be fine," Mr. Le Tran Minh Huy explained.

Mr. Truong Xuan Bach - Director of Project Development at Beta Group, shared his insights on franchising in the entertainment and cinema sector (Photo: Beta Group).

The Vietnamese film industry is accelerating.

According to Box Office Vietnam statistics, in 2024, total box office revenue in Vietnam reached a record high of VND 4,418 billion, surpassing even the pre-pandemic level of 2019 (over VND 4,100 billion). A survey by a group of Harvard Business School researchers predicts that total revenue in the Vietnamese cinema market will grow by 10% over the next eight years.

Vietnam is seeing an increasing number of blockbuster films grossing hundreds of billions or even trillions of dong… Directors are also gradually conveying many messages and cultural values ​​through their films, which are being well-received by audiences. “These are signals that the Vietnamese film market is accelerating,” shared a representative from Beta Group at a recent event in Ho Chi Minh City.

In the context of an accelerating industry, Beta chose franchising as a way to expand and compete with foreign players like Lotte Cinema and CGV.

Beta is the business of Bui Quang Minh, a 9X generation entrepreneur (often known as Shark Minh Beta since participating in the Shark Tank Vietnam program). Founded in 2014, Beta Media is a company within the Beta Group ecosystem, specializing in developing and operating a chain of cinemas targeting the mid-range segment in Vietnam.

Currently, Beta Media operates 21 Beta Cinemas complexes nationwide. Alongside the new Aeon Beta Cinema brand, Beta Cinemas continues to be a focus of Beta Media's development, serving its core customer base.

"Joining forces" with the giant Aeon

Last year, Beta Media and Aeon Entertainment also attracted attention when they established a joint venture, planning to invest up to 5 trillion VND in 50 cinema complexes by 2035. The joint venture announced plans to accelerate the development and operation of 50 high-end cinema complexes under the Aeon Beta Cinema brand.

During the announcement ceremony, Mr. Bui Quang Minh (Shark Minh) - Chairman of Beta Group - shared that currently, a modern, high-end cinema complex requires an investment of approximately 100 billion VND for construction. Therefore, investing in 50 cinema complexes would require around 5,000 billion VND or slightly more. However, the joint venture not only invests in cinemas but also in production and distribution, so the investment is not limited to the figure mentioned above.

Mr. Minh stated that if you look at the number of movie theaters per million people in Vietnam, it's only about 11 screens per million people, while in the United States it's much higher, ten times more. Therefore, the market potential is enormous. An interesting fact about the Vietnamese market is that a large portion of the audience is young people. Therefore, his company benefits from that.

"Established in 2014, Beta Group has grown very rapidly. After Covid-19, we tripled our revenue and are now serving around 6 million moviegoers annually. I'm also proud to say that we are probably the fastest-growing film company in the world ," said Shark Minh.

He added that Vietnam is one of the fastest-growing markets in the world, and international brands have recognized this.

Shark Minh has also produced several films, including "Tomorrow Mai Gets Married" (2017), "Finding a Wife for Grandma" (2018), "Husband Swap Plan" (2018), and "The Magical Beauty" (2019). In addition, he has ambitions to become a director.

Source: https://dantri.com.vn/kinh-doanh/chuoi-rap-chieu-phim-cua-shark-minh-beta-dang-kinh-doanh-ra-sao-20251018103625586.htm