Pledging Coexistence with Family to Improve Q4 Performance
Emphasizing Cooperation Amid Ongoing Economic Crisis
At the 2022 second half-year regular general meeting of the Genesis BBQ Group's Companion Committee held on the 4th at Chicken University in Icheon-si, Gyeonggi-do, Vice Chairman Yoon Kyung-joo (center) and heads of related departments are taking a commemorative photo. Photo by BBQ
[Asia Economy Reporter Moon Hyewon] Yoon Hong-geun, Chairman of the Genesis BBQ Board of Directors, stated, “Based on the 6 Major Win-Win Policy Measures, we will continue to strive to establish a culture of mutual growth with our family members and strengthen support at the headquarters level so that family owners can stably generate higher sales.”
According to Genesis BBQ on the 6th, Chairman Yoon made these remarks in his greeting at the 5th Regular General Meeting of the Companion Committee held on the 4th at the Chicken University in Icheon, Gyeonggi Province, aiming to improve performance in the fourth quarter of this year.
The general meeting was attended by 30 people including Yeom Hyun-seok family (franchise owners), representatives of the 'Dong' side, and Jeong Seung-wook, representatives of the 'Haeng' side, along with heads of related departments.
The second Companion Committee meeting held this year began by introducing efforts to globally expand BBQ’s brand image, such as ranking 2nd among the fastest-growing brands in the U.S. announced by Nation’s Restaurant News and receiving a commendation from the New Jersey State Assembly for contributions to economic development.
Regarding the 6 Major Win-Win Policy Measures announced on the 28th of last month, explanations were given to the family about the revised franchise contract contents, as well as analysis of marketing results using the company’s app and E-coupons conducted up to the third quarter, and plans for marketing activities in the fourth quarter. They also requested active participation in social contribution activities such as 'I Love Africa' and 'Chicken Relay' that have been ongoing.
In response, family members explained various difficulties they have recently faced while operating stores, such as brokerage fees and delivery fees, and requested continuous attention and support from headquarters.
The BBQ headquarters replied, “Since the COVID-19 pandemic, the cost of raw and subsidiary materials such as olive oil, sauce, and powder has continuously risen due to price surges and recently increased exchange rates. However, based on the management philosophy that ‘the headquarters survives only if the family survives,’ the headquarters will continue to bear the responsibility to guarantee family profitability.”
Meanwhile, since 1997, BBQ has operated a management committee to strengthen communication between headquarters and franchise stores, the first in the domestic franchise industry, and since 2017, it has developed this into the Companion Committee, with the family (franchise stores) as the 'Dong' side and the headquarters as the 'Haeng' side.
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