If you eat food solely for nutrition, there’s no need to cook it elaborately; just choose a nutritional supplement. However, food intake not only provides nutrients to our bodies but also offers the pleasure of experiencing various tastes, especially flavors known as aromas through the sense of taste. Incense reflects civilization and culture. Therefore, the food business must be cultural, and for fragrance-related businesses such as coffee, wine, and perfume, both a cultural approach and an understanding of fragrance are crucial for success. Occasionally, there are businessmen who try to sell food by emphasizing nutrition while neglecting the pleasure derived from this rich civilization and culture. I recommend that these businessmen sell nutritional supplements only. It is unfortunate to engage in business without a grasp of civilization and culture. - Joseph’s “just my thoughts”
In 2019, the coffee shop franchise Banapresso had 47 branches in Seoul, 35 of which were concentrated in the Gangnam and Seocho districts. There were even other Banapresso stores within 200 meters of each other. It was denser than Starbucks. 100% of orders were placed through kiosks and mobile apps. The elders thought it would be hard to place an unattended order, but when they tried it, they were impressed with how seamlessly they were connected to the register. An Americano costs KRW 1,500 (about USD 1.27). There was only one employee. Everything was ordered at the touch of a button and the coffee was served within 40 seconds. All the bread was made at a nearby headquarters and distributed in batches. Banapresso was the antithesis of a traditional coffee franchise. Its parent company is an IT company that operates a ride-hailing app. The same business can be completely transformed into a different business model, due to the interpretation and context. - Joseph’s “just my thoughts”