[Report] First Startup Expo After Mask Mandate Lifted a 'Buksatong'

54th Franchise Startup Expo Visited

From 20s to Middle-aged... Startup Enthusiasm 'Heated Up'
30,000 Pre-registrants... Twice as Many as Last Year

"I've been here for an hour, but I've only been able to have consultations at two places. I didn't expect there to be this many people."

The '54th IFS Franchise Startup Expo,' held on the 3rd floor of the COEX building in Gangnam-gu, Seoul on the 30th, was packed with aspiring entrepreneurs and company representatives from the very first day. Long lines formed in front of company booths as people waited for startup consultations, and participating company representatives were busy handing out pamphlets and kits to passing visitors, trying to attract as many prospective entrepreneurs as possible.

People gathered at the 54th IFS Franchise Startup Expo are visiting company booths and receiving startup consultations.
[Photo by Seohee Lee]

The 54th IFS Franchise Startup Expo, with a total of 600 participating companies, was held this year at the largest scale ever. This was due to the full-scale onset of the 'endemic' phase, including the lifting of indoor mask mandates, and the expectation that the economy would recover.

Kim Jong-baek, head of policy and public relations at the Korea Franchise Industry Association, said, "The categories of participating companies have diversified and segmented, including food service, services, wholesale and retail, and distribution facilities. This year, a special retail pavilion exclusively for partners was established for the first time. During the pre-registration period, a wide range of people, from young people in their 20s to middle-aged and older adults, regardless of age or gender, expressed interest in visiting."

On that day, Park Suk-jung (33), who wore a name tag reading 'prospective entrepreneur' and was standing in line in front of a rice bowl specialty restaurant, also came to COEX with dreams of starting a business. Park said, "I want to open a Korean food specialty restaurant, so I came all the way from Gwanggyo, Suwon. I arrived right at the opening time of 10 a.m., but I was surprised to see people lined up at the entrance. This is my second time participating after last year, and there are definitely more booths and more people."

Lee Jae-hoon (43), who runs a coffee shop in Bucheon, Gyeonggi-do, was also walking around the expo holding five or six company pamphlets. Lee said, "I came here because I want to run a side business in the form of a 'shop in shop' inside the cafe I currently operate. I'm mainly looking at liquor companies, and there are definitely many more options than five years ago."

People gathered at the 54th IFS Franchise Startup Expo are lining up to taste food samples.
[Photo by Seohee Lee]

Long lines especially formed in front of companies offering 'exceptional benefits' during the expo. For example, coffee specialty shops were providing various benefits to expo customers, such as supporting coffee machines just for franchise consultations. Some companies offered support worth about 15 million KRW, including franchise fees, training fees, and royalties. Additionally, booths offering direct tasting opportunities for chicken, skewers, and other foods were even more crowded with visitors eager to sample the food. A representative from I'm 1 Liter Coffee, who attended the expo, said, "During the expo, we are running an event that provides additional support for training fees when signing a preliminary contract. From 10:30 to 11 a.m., about 10 people received consultations in just 30 minutes. Most were curious about the benefits."

Kim said, "The number of pre-registrants for this year's expo was about 30,000, nearly double that of last year. Seeing the first day of the expo, the actual enthusiasm seems much hotter. The lifting of indoor mask mandates and the approaching end of COVID-19, along with expectations for economic recovery, seem to be reflected in this."