| View previous topic :: View next topic |
| Author |
Message |
Yaya
Joined: 25 Feb 2003
Location: Seoul
|
 Posted: Tue Jun 18, 2013 5:15 pm Post subject: |
 |
|
| I don't care how much money I'd make, it's not worth it to worry daily if that day at the convenience store in a ghetto neighborhood will be your last, a situation many Koreans in the U.S. face every day. |
|
| Back to top |
|
 |
atwood
Joined: 26 Dec 2009
|
| Posted: Tue Jun 18, 2013 8:58 pm Post subject: |
|
|
When I'm in the U.S., just about the only convenience stores I see are attached to gas stations. The profit on gas is quite low for the operators and they make their real money on whatever they sell in the store, kind of like movie theaters and concessions.
The only stand alone convenience stores I saw were in reality little more than beer stores. |
|
| Back to top |
|
|
alongway
Joined: 02 Jan 2012
|
| Posted: Wed Jun 19, 2013 12:00 am Post subject: |
|
|
| cabeza wrote: |
To be honest, I don't think anyone would ever assume an owner of a convinience store is raking in the cash.
Especailly with the ridiculous over-saturation of them here. In a 2 minute walk from my apartment there are 4 chain convinience stores and then another 4-5 mom and pop mini marts. How any of them make any kind of decent money I have no idea.
|
Population density.
In a 2 minute walk you, You could probably cover 500 m in any direction or about 0.25 square kilometers. In some places that could house upwards of 5-7,000 people based on density in Seoul. |
|
| Back to top |
|
|
dairyairy
Joined: 17 May 2012
Location: South Korea
|
| Posted: Sun Jun 23, 2013 12:33 pm Post subject: |
|
|
FWIW, this is probably just a drop in the bucket and is being done to keep others from jumping ship.
http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2973515&cloc=joongangdaily|home|newslist2
| Quote: |
Seven Eleven lets 500 franchisees out of contracts
June 24,2013 Seven Eleven announced yesterday that it will gradually close 500 or so stores that are suffering from losses without demanding its contracted store owners pay for the premature ending of the contracts to run the stores.
The recent suicide of a CU convenience store owner after a conflict over payments demanded by CU for breaking the contract before it expired sparked a nationwide outcry against unfair treatment of small entrepreneurs like convenience store franchisees.
The government has also cracked down on harsh treatment of small businesses.
Seven Eleven has more than 7,200 convenience stores across the country.
|
|
|
| Back to top |
|
|
atwood
Joined: 26 Dec 2009
|
| Posted: Sun Jun 23, 2013 3:01 pm Post subject: |
|
|
| dairyairy wrote: |
FWIW, this is probably just a drop in the bucket and is being done to keep others from jumping ship.
http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2973515&cloc=joongangdaily|home|newslist2
| Quote: |
Seven Eleven lets 500 franchisees out of contracts
June 24,2013 Seven Eleven announced yesterday that it will gradually close 500 or so stores that are suffering from losses without demanding its contracted store owners pay for the premature ending of the contracts to run the stores.
The recent suicide of a CU convenience store owner after a conflict over payments demanded by CU for breaking the contract before it expired sparked a nationwide outcry against unfair treatment of small entrepreneurs like convenience store franchisees.
The government has also cracked down on harsh treatment of small businesses.
Seven Eleven has more than 7,200 convenience stores across the country.
|
|
I think it's being done due to government pressure. The new president does seem to be working to help small and medium-sized businesses, just as she promised. |
|
| Back to top |
|
|
hiamnotcool
Joined: 06 Feb 2012
|
| Posted: Sun Jun 23, 2013 3:14 pm Post subject: |
|
|
| alongway wrote: |
| cabeza wrote: |
To be honest, I don't think anyone would ever assume an owner of a convinience store is raking in the cash.
Especailly with the ridiculous over-saturation of them here. In a 2 minute walk from my apartment there are 4 chain convinience stores and then another 4-5 mom and pop mini marts. How any of them make any kind of decent money I have no idea.
|
Population density.
In a 2 minute walk you, You could probably cover 500 m in any direction or about 0.25 square kilometers. In some places that could house upwards of 5-7,000 people based on density in Seoul. |
The population density is one factor. Then there is also the way they are all trying to put each other out of business. I feel bad for these guys because a lot of them probably didn't realize what they were getting into, but when you put your 7/11 across the street from a CU your main objective is going to be putting that CU out of business and making some other poor guys life a living hell. I saw a smaller working class area have all of it's old fashioned mom and pop stores slowly get put out of business by a rapid influx of 7/11s. The 7/11 owners didn't seem to mind watching all the local business owners suffering due to their moving in. Business is brutal. |
|
| Back to top |
|
|
atwood
Joined: 26 Dec 2009
|
| Posted: Sun Jun 23, 2013 5:22 pm Post subject: |
|
|
| hiamnotcool wrote: |
| alongway wrote: |
| cabeza wrote: |
To be honest, I don't think anyone would ever assume an owner of a convinience store is raking in the cash.
Especailly with the ridiculous over-saturation of them here. In a 2 minute walk from my apartment there are 4 chain convinience stores and then another 4-5 mom and pop mini marts. How any of them make any kind of decent money I have no idea.
|
Population density.
In a 2 minute walk you, You could probably cover 500 m in any direction or about 0.25 square kilometers. In some places that could house upwards of 5-7,000 people based on density in Seoul. |
The population density is one factor. Then there is also the way they are all trying to put each other out of business. I feel bad for these guys because a lot of them probably didn't realize what they were getting into, but when you put your 7/11 across the street from a CU your main objective is going to be putting that CU out of business and making some other poor guys life a living hell. I saw a smaller working class area have all of it's old fashioned mom and pop stores slowly get put out of business by a rapid influx of 7/11s. The 7/11 owners didn't seem to mind watching all the local business owners suffering due to their moving in. Business is brutal. |
There is a type of logic to that. Two gas stations across from each other at an intersection will both do better business than if there were only one gas station there. People know it's easy to get gas at that intersection.
But in Korea it just seems there's a feeling that if one restaurant, bakery, whatever is making money at a certain location, then I can open up another one and make money too. |
|
| Back to top |
|
|
Yaya
Joined: 25 Feb 2003
Location: Seoul
|
| Posted: Sun Jun 23, 2013 5:41 pm Post subject: |
|
|
| Koreans also set up similar businesses abroad, too, and more often than not, all of them end up failing. I learned that early in my life in America. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
