• Your team member names
o Ken Jeong, Sam Song
• What the business will be doing/selling (be as specific as possible).
o There is a big korean wave among the nations in Asia and especially in Japan. Due to this korean wave, we were thinking of promoting the advertisement of Korea by opening a Korean restaurant. We will be opening a traditional Korean restaurant that promotes the well being of the customers and also letting the people know about the true traditional korean restaurant. Our targeting customers will be the middle-upper socioeconomic class.
• Where will the new business be located (anywhere but the US)?
o As the korean wave is especially hot in Japan, we were thinking of opening the business in Tokyo, Japan. To be exact, we were thinking of opening it in Shinjuku, Tokyo, which is the center of Tokyo.
• Are there existing businesses like yours already? How will you set yourself apart?
o There are Korean restaurants, but the restaurants that serve real traditional Korean food are rare. The existing restaurants usually adapt the taste to the Japanese people, which loses the traditionality of true korean food. It is our hope to open a traditional korean restaurant that does not adapt to the tastes of the japanese people.
• What do you think is the biggest challenge you will face in getting this business started?
o The biggest challenge is to get a place at Shinjuku, Tokyo. The rents will be extremely expensive and we will need to find investors who are willing to spend their money to our business. Another challenge will be to differentiate our business to other Korean restaurants. The last possible challenge will be that a big group of middle-lower class will be eliminated. This reduces the chance of making profit.
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