|▲ CEO Kim Dong-nam|
The franchise industry in Korea seems to be overcrowded. Hundreds of brands are newly registered every month and many of them are disappearing without a trace sooner than we know that they ran a business once. Experts voice together that ‘the let’s just open it and see what happens attitude’ is one of the main reasons to fail within such a short period of time. They also point out ‘wrong item, inappropriate price and bad location’ as contribution factors.
Yet some companies prove themselves capable in the field and one of them is WIDER EAT which is showing a strong presence in the field with ‘culture and cost-effectiveness’. Kim Dong-nam, CEO of WIDER EAT, has 10 years of extensive experience in the ad industry and confidently launched the cost-effective ramen brand ‘It-tto Ramen’ in February 2018 with four strengths: authentic Japanese ramen, US$2.94 a bowl of ramen, a variety of supporting menus, and US$34,784 initial capital to join the team. Thanks to this, Kim has opened 40 branches already.
“Taste and services are very important. But it will attract more dinners when added cost-effectiveness, quality and culture. Dinners are always looking for something new and fancy and affordable. Japanese ramen is normally expensive but we offer at affordable prices while the quality is intact” says Kim.
WIDER EAT is an affiliate of WIDER GROUP and has its own ad agent WIDERCOM through which Kim is pushing forward effective marketing strategies. In order to maximize profits of franchisees, the company gives though analysis on market, sales and management. Its all-in-one startup system especially provides a comprehensive opening procedure from consulting and interior to management and after care services so that even a novice can start to run his own business as a partner. The manless ordering system also is contributing to reduce labor cost.
This innovative management system has brought WIDER EAT a number of prizes including the 2017 Korea Satisfaction Brand Index, 2018 Customer Satisfaction Brand Awards and the 2018 Hankookilbo Awards.
“WIDER EAT is run based on 4 policies: particularity, product, price and pleasant. Particularity and pleasant create a ‘culture’ and product and price ‘cost-effectiveness’. We will keep doing our best to grow together with our partners in the year 2019 and over.”
Recently, WIDER EAT received the 2019 Korea Brilliant People & Brand Awards in the category of franchise.
김종관 기자 email@example.com