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Wednesday, January 21, 2004

(Small businesses) Some small business ideas

A business opening article which is half journalism and half promotion in Chosun Ilbo job pages. "Last year was the worst ever in terms of business opening, but this year the situation is expected to improve"; and then comes introductions of a four successful businesskeepers.

Pudaetchigae restaurant; note again that the word chônmunjôm ("special shop") is used for a place specializing in one dish. The colloquial term is usually chip (jip), but the "special shop" is apparently used to give the air of professionalism and expertise. The name of the pudaetchigae chain to which the restaurant belongs is Mo-paksa pudaetchigae (paksa=doctor, scholar). This place makes daily sales of 1.5 mil. W three months after the opening, which is said to be successful; it may or may not have something to do with the fact that the keeper is a former pro basketball player. (Opening expenses: 220 mil W [150 000€], rent deposit and 'premium' (kwôlligûm) included.)

Eel restaurant; a woman closed her loss-making beer restaurant (hop'û) and opened an eel place (komchangô chônmunjôm) (notice again the 'chônmunjôm), which belongs to the Hwangga-ne kkomjanggun chain. She's been successful, the place is "full of people only three months after the opening", while establishments around are struggling. Four main dishes in the menu: eel, beef ribs (sokalbi), chukkumi octopus, and chicken feet. (Takpal should mean the feet of a chicken, not the leg with meat.)

A chicken feet dish looks like this.

Opening expenses were 80 mil. W (53 000€), of which the shop rent deposit was 50 million. Monthy sales is about 27 mil, and the net profit 9 million (6000€)

Note that all the four businesses introduced in the article (or should the word be put in quotation marks) belonged to a chain; my hunch is that more and more small businesses are opened as a part of a chain, but it may not be the single explanation to the prominent position enjoyed by chains in Chosun's (or any other newspaper's) business opening stories.

An adjoining article "What a first-time business keeper should know", written by a business opening consultant.

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