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Half Year 2023 Servcorp Ltd Earnings Call Transcript
I'll go back in 2 -- just for the 2 little bits and say, we're going to open 15 new centers, which will add about 20% to Servcorp's size. And that's a summary of the last 5 minutes.
But if I look at Servcorp and I look at what it's costing us to build a center with proper infrastructure because everybody thinks there's no barrier to entry. Well, the barrier to entry is now the cost to build this, if you're going to do it correctly so that you can compete in the marketplace, in my view, is between $4 million and $5 million a center, and that's before you fill them.
So we've got 120, and we're going to build another 15. So let's say we've got 140 to 150 centers, 140 will do. That's about my next target. 140 centers is -- at $5 million a center is $700 million. That's before you start to fill them.
And as everybody that's going into this business is finding, it costs a lot to fill them. So I think that to effectively compete with Servcorp, to set up a basic system and to operate in some of the
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