The Korea Franchise Association USA (KFAUSA) is holding the ‘6th K-Franchise U.S. Investment Presentation’ from 2 p.m. to 6 p.m. on August 22 at CGV, The Source in Buena Park.
The number of Korean franchises successfully entering the U.S. market has increased significantly, with these franchises accelerating their expansion, buoyed by the popularity of Korean food that started with K-pop.
“Participating companies have been carefully selected by the Korea Franchise Association and the Korea SMEs and Startups Agency,” said Myungshin Son, CFO of KFAUSA.
The nine franchise brands include Tous Les Jours, Vons Chicken, Chodang Tofu, Honeymee, Jaws Topokki, Pixiu Malahongtang, Inssaeng Maekju, Salady, and Heuk Hwa Dang. Of these, seven are Korean brands, while Honeymee and Chodang Tofu are local brands in the U.S.
Inssaeng Maekju is preparing to open its first store in The Source in Buena Park this year, and Salady is preparing to expand to the U.S. market. The other five are already actively franchising across the country.
Tous Les Jours is showing the most aggressive store expansion, with more than 100 locations in 26 states already. It plans to grow to more than 1,000 stores in North America by 2030.
Vons Chicken, which operates 45 restaurants nationwide, has set a goal of growing to 200 restaurants within five years. “The participating companies are verified brands that have registered as U.S. franchisers,” Son said, “and have many successful operational examples.”
According to the association, 40% of the event’s registrants are currently working in the restaurant industry. Many of them are looking to grow their business from a local restaurant to a franchise, the association said.
“Sul & Beans and Somi Somi are also representative local franchise brands,” said Son, adding, “We’ve gathered all the information you need to grow your business into a franchise.”
This year’s event will be characterized by two features. The event has increased the number of options based on equity capital and industry interests. Investment levels range from $100,000 to over $1 million.
A full range of partners for the food service sector will be at the event, including Neozips, Allmerits Financial, Trust1 Sales, Bank of Hope, and BankCard Services. The partners will provide franchisees with information on how to analyze commercial real estate, recruit and market franchisees, purchase restaurant equipment, SBA loans, and point-of-sale systems.
Exhibitor introductions will take place from 2 to 4 p.m., followed by individual consultations with vendors and partners from 4 to 6 p.m. at their booths.
“Franchising will play a pivotal role in the Korean-American economy,” said Eric Eo, Director of External Affairs of KFAUSA, adding, “While the average private business survives only about 50 percent of the time after five years, more than 85 percent of franchises do.”
To register for the event, attendees can visit neozips.com or scan a QR code.
For more information, call (949)557-7744.
BY EUNYOUNG LEE, HOONSIK WOO [lee.eunyoung6@koreadaily.com]
