It is not a very new thing that opening franchise fast food restaurant like ‘Burger King’, ‘KFC’, ‘Pizza hut’. From 2000’s family restaurants like ‘outback steak house’, ‘bennigans’ are rush in to Korea. ‘outback steak house’ as an example, they recently open 100th restaurant in Korea. They made remarkable performance with localization and fitting marketing strategy and image making.
‘Starbucks’ introduce their business model even before coffee specialty store became familiar. So now they have more than 200 stores. Above two companies I introduced are benchmarking by themselves to use it as a successful case when they are penetrate to another country.
Now there’s another trend on the franchise market. Until now, most of overseas franchise stores were concentrated in Food and Beverage industry. But now the others who were not invited are hustle through the retail sales market in Korea.
G.S Watson’s is introduced in 2006. It a joint stock company with GS retail and A.S Watson’s invest 50:50. A.S Watson’s, subsidiary company of Hutchison Whampoa Hong Kong, has more than 5000 stores in 910 cities covering 19 countries in the world. G.S Watson’s is health and beauty specialty store and they have 11 stores in Korea.
Also in organic grain market in Korea, Huckleberry Farms and Cho-hung made master franchise contract. So, Cho-hung corp. introduced ‘Huckleberry farms’ as a direct management store. And for small franchise membership store they introduce ‘Hill Green’ as their own franchise brand.
These new trends in franchise market represent change of customers’ spending pattern. We can say the ‘Starbucks’ introduce and lead the coffee specialty business in Korea. But most of cases like ‘Huckleberry farm’, the well-being trend deliver the organic grain franchise business and health franchise companies introduces. However, we need to see that some trends are moves quickly so if someone wants to introduce some business, they should consider what the trend is and how long it will be sustain.
1 comment:
we provide finance with 3% interest rate.business finance, Home finance, Mortgage,personal finance, Car finance,real estate finance, E-mail: capitalfunding454@gmail.com
Post a Comment