[On Site] "Let's be CEO, not Manager"... Franchise Startup Expo Bustling with Activity

Visited the '66th Franchise Startup Expo'
Held for three days from the 4th to 6th at COEX, Gangnam-gu, Seoul

Prospective entrepreneurs are visiting the unmanned convenience store booth at the '66th Franchise Startup Expo 2022' held on the afternoon of the 4th at COEX in Gangnam-gu, Seoul. Photo by Moon Hyewon, Asia Economy

[Asia Economy Reporter Moon Hyewon] “Please try our food tasting and receive a commercial district analysis. How long will you remain a perpetual manager? It’s time to be called the boss.”

On the 4th, at COEX in Gangnam-gu, Seoul, the ‘66th Franchise Startup Expo’ attracted visitors with the playful banter of franchise headquarters sales representatives and the aroma of deliciously fried chicken blending together.

After three years of COVID-19 quarantine guidelines preventing food and beverage tastings inside the venue, tastings were possible again, filling the exhibition hall with the scents of various franchise brands including chicken, waffles, pizza, jokbal (pig’s trotters), cold noodles, and coffee.

Organized by World Exhibition, this expo runs for three days from the 4th to the 6th. Over 140 brands from diverse industries participated, including food service (cafes, chicken, pizza, Korean, Chinese, Japanese cuisine, fast food, beer, snack bars, etc.), non-food service (study rooms, karaoke rooms, PC rooms, laundromats, etc.), retail, and services (education, beauty, leisure). These companies provide prospective entrepreneurs visiting the expo with information on startup costs, commercial district analysis, and business know-how. The organizers expect between 15,000 and 30,000 visitors to attend this expo.

The visitors were mainly retirees, young entrepreneurs, and businesspeople seeking new ventures.

Prospective entrepreneurs are participating in a lottery event at the '66th Franchise Startup Expo 2022' held on the afternoon of the 4th at COEX in Gangnam-gu, Seoul. Photo by Moon Hyewon, Asia Economy

At the event, a former health trainer in his 30s, Mr. A, told the reporter, “Due to COVID-19, running a gym became very difficult, so I started considering other businesses. Since I know that diet is as important as exercise for customers to manage their health, weight, and body shape well, I am exploring a business that prepares and delivers a healthy monthly meal plan.” He added, “I came to the expo with my business partners to gather information on initial startup costs, marketing know-how, and commercial district analysis.”

Mr. B, a worker in his 40s, said, “I took a day off from work to get more detailed information about unmanned convenience stores, unmanned cafes, and coin laundromats, which are known to generate side income while working.” He continued, “With prices rising these days, it’s hard to live on just a salary. Many colleagues around me have started doing delivery or convenience store part-time jobs after work. I felt I couldn’t just stay idle, so I’m looking into various options.”

A sales representative from a franchise headquarters who provided startup consultations to prospective entrepreneurs at the booth said, “Since the COVID-19 quarantine guidelines have been eased, inquiries about startups have steadily increased.” He added, “Recently, startup trends are increasingly focused on unmanned systems and contactless transactions that minimize manpower.”