Saturday, January 14, 2012
Maybe a good investment?
I've been to a lot of countries and there is no such thing as a Mexican restaurant in Mexico, no such thing as a Venezuelan restaurant in Venezuela, and I certainly wouldn't expect a restaurant in Korea to brand itself as a Korean restaurant. For marketing reasons, restaurants are always of some cuisine that is exotic from where they currently are. However that's not to say that they do not cater towards local tastes, Tex Mex is certainly different from real Mexican food as is Californian Mex. There'll be a lot of restaurants in Korea, very few if any will call themselves a Korean restaurant but they will still cater to Korean tastes whether they are Italian, mexican, Chinese, or German restaurants. I can't say if a Dutch restaurant can be successful in Seoul, a successful restaurant typically is exotic in terms of marketing and name but not necessarily in food and Korean is a significantly different culture from Dutch. Also what about Dutch cuisine is particularly brand able? You can market Korean BBQ worldwide but what Dutch cuisine creates a brand? Restaurants in general are lucky to just break even and a restaurant has a 25% chance per year of going under. Overall, I would not consider a restaurant a good investment never mind one that does not have a good handle on it's clientele.
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