May 07, 2021 12:47
Convenience stores, fried-chicken chains and cheap American-style pizza restaurants were among the most successful franchises in Korea in 2019, but many languish as the gap between the top and bottom widened significantly.
The top-ranked franchises were GS25 (convenience store), Kyochon (fried chicken), Domino's Pizza, A Twosome Place (coffee shop), KFC (fast food) and Paris Baguette (bakery). The findings are based on data of 7,092 franchises provided by the Korea Fair Trade Commission.
Among convenience stores, GS25 boasted per-store sales of W665 million a year, followed by rivals Ministop (W590 million), CU (590 million), 7-Eleven (482 million), and E-Mart 24 (407 million) (US$1=W1,123).
But the number of outlets did not ensure greater success. BBQ was the top-ranked fried-chicken franchise in terms of store numbers, followed by BHC and Kyochon. But Kyochon had much better per-store sales at 653 million, up 44 percent compared to four years ago, than BBQ (W578 million) and 60 Gye Chicken (527 million). BHC's per-store earnings stood at just W435 million.