The premium meat restaurant Geumsung Hoegwan sees an explosive sales increase even in times of recession

Despite high prices and shrunken wallet in this time of recession, one restaurant franchise is seeing an explosive increase in sales. It is the premium meat restaurant Geumsung Hoegwan. This is even more meaningful considering the fact that 41% of self-owned businesses, especially in food, are thinking of closing down within 3 years according to a survey due to poor sales but soaring debts. Yet the number of newly registered franchise is increasing which means that the competition to survive is more intense than ever. 

 

The premium meat restaurant loved by all ages

Geumsung Hoegwan won Best Meat Restaurant at the 2023 Brand Power Index. Opening the flagship September 2021 in Hapjeong-dong, Seoul, the number jumped to 6 within a year with top performers exceeding 100 million won monthly sales. Some of the reasons are the European style interior, tables for both private and group diners, variety in menu, and above all excellent taste. 

 

Juicy, tender and generous amount!

You are highly recommended to try the rib dishes. The quality of the meat are all first grade wether beef or pork. You will be surprised by the heavenly taste of the meat that is juicy, tender and also the generous amount. Because they are fire-grilled, the taste is original and savory. The snow flower meat dish especially is a must-try as this pork part is scarce and looks like snow flakes. The seol-hwa-galbi also is worth trying as it is made of 1% neck and 6/7/8 ribs. If you want to visit there for lunch, you are recommended to try a rib meal, a mixed rice or a beef soup rice which will cost you less than 10,000 won. 

 

▲ Geumsung Hoegwan / CEOs Donghee Lee and Heonmook Jeong

0% closing rate, 100,000 won sales a month

You can find 14 Geumsung Hoegwan nationwide and the company plans to increase the number to 22 by April this year. To your surprise, the one near Seoul City Hall has record 150,000 sales a month while 8 restaurants earn more than 100,000 sales a month. To grow the business together with franchisees, head office offers 0% fee for interior and minimum cost for meat and source materials. Thanks to this win-win management, not a single restaurant has closed down so far. 

“The most important thing in this business is a stable income in all branches. And it is our job to maximize the sales and grow the business together with partners.” says CEOs Donghee Lee and Heonmook Jeong.