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JB Group Signals Hope for Small Business Owners with Franchise Association MOU
23-08-16 1,056
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JB Group (CEO Kim Do-hyun) and the Korea Franchise Industry Association (Chairman Jeong Hyeon-sik) announced on February 9th that they have signed a Memorandum of Understanding (MOU) to support small business owners facing challenges due to sluggish consumer spending.
The signing ceremony, held at the SBA International Distribution Center in Seoul, was attended by more than 10 officials, including Kim Do-hyun, CEO of JB Group, and Kang Seok-woo, Executive Vice President of the Association, along with other key executives from both organizations.
Supporting Small Businesses Amid Consumer Slowdown
Through this partnership, JB Group and the Franchise Association will collaborate to improve the business environment for small business owners affected by economic challenges.
Kim Do-hyun, CEO of JB Group, emphasized the importance of providing practical solutions:
“Many small business owners struggle to attract customers due to limited visibility. We aim to help them boost sales by as much as 20% to 30% using our Location-Based Services (LBS), which reduce the distance between businesses and potential customers. Additionally, our innovative integrated mileage system will create a new market where younger MZ-generation consumers can enjoy smarter and more rewarding shopping experiences.”
Kang Seok-woo, Executive Vice President of the Association, acknowledged the ongoing difficulties faced by small businesses:
“Despite the end of the COVID-19 pandemic, high inflation and weak consumer demand continue to weigh on small business owners. By effectively linking JB Group’s easy-to-use integrated mileage system with our franchise members, we aim to support their sales recovery.”
Expanding the Ecosystem Through Strategic Collaboration
Both organizations will explore collaborative opportunities through various channels, including the Association’s K-Franchise Comprehensive Support System and the IFS Franchise Seoul startup expo. Their shared goal is to expand the positive feedback loop of the integrated system while driving further improvements and industry-wide adoption.
JB Group will actively promote its integrated mileage system to franchise member stores, ensuring that rewards earned by consumers can be redeemed seamlessly at participating locations. The company plans to offer exclusive benefits to participating franchisees, including specialized programs and equipment, while fostering a system that maximizes consumer incentives through mileage rewards.
A Postpaid Advertising Model Tailored for Small Businesses
JB Group’s business model integrates a performance-based, postpaid advertising system with its mileage platform, ensuring that businesses only pay advertising fees after revenue is generated. This ICT-based platform aims to optimize marketing spending by directly linking advertising effectiveness to actual sales. With its unique approach, JB Group is committed to helping small business owners improve profitability and establish a sustainable growth trajectory.
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