TLDR;
This video provides a detailed look into the speaker's experience of opening and running an unmanned ice cream and snack shop. It covers initial investment costs, loan acquisition, supplier relationships, inventory management, security measures, and profitability. The speaker shares insights into the challenges and benefits of this business model, particularly in a neighborhood setting, and compares it to other business ventures.
- Initial investment was around 45 million won, including deposit, interior, and initial stock.
- A 30 million won loan was secured five months after opening, highlighting the challenges of accessing funds for new businesses.
- Hybrid inventory approach: wholesaler for standard items and direct sourcing for popular or missing products.
- Security measures include multiple CCTVs and a home cam system with phone alerts.
- Theft is less of a concern compared to the savings on labor costs from running an unmanned store.
Intro [0:00]
The speaker introduces the topic by mentioning their family's fondness for snacks and chicken nuggets, which inspired the idea for the unmanned shop. They initially believed the shop would perform better, but sales haven't met expectations. The speaker also mentions their experience giving side business lectures, focusing on cash flow and proven business models.
Unmanned Ice Cream Shop: The Idea [0:46]
The speaker recounts a past proposal to lecture on opening unmanned ice cream shops, contingent on achieving a certain profit level. The lecture never happened because the promised profit margins weren't realized. The speaker aims for a net profit of about 1 million won per month with such a shop, but current profits fluctuate seasonally, averaging around 100,000 won per month.
Initial Investment Breakdown [2:04]
The speaker details the initial costs, noting savings by taking over existing fixtures like the air conditioner and flooring. The major expenses, totaling about 10 million won, included display cases, a kiosk, a kiosk table, exterior signage, and lighting. Interior design costs were significant due to the need to open quickly to capitalize on the summer season.
Startup Costs and Loan Acquisition [3:25]
The speaker estimates average interior costs for a similar-sized space at around 40 million won. Their startup costs included a commercial space deposit (20 million won), interior work (10 million won), and initial stock (10 million won), totaling 40 million won. Additional expenses like floor key money and management fees brought the total to 45 million won. The speaker pursued a low-interest loan from the Korea Credit Guarantee Fund, initially expecting a quick turnaround with a 30 million won loan. However, new regulations required three months of sales before loan approval, delaying the loan receipt to five months after opening.
Supplier Relationships and Inventory [5:27]
The speaker explains that ice cream freezers are typically provided free of charge by the ice cream supplier. For snacks, they initially planned to buy and stock themselves but contracted a snack wholesaler to handle stocking to reduce management burden. This arrangement involves the speaker sending photos of missing items for the wholesaler to restock, though the speaker still supplements with popular items like Dubai chocolate and limited-edition snacks.
Sourcing and Pricing Strategies [7:28]
The speaker discusses sourcing strategies, including using wholesale malls and even Coupang for certain items. Coupang is used to source items like chicken legs and other products at prices lower than convenience stores, allowing for a 30% profit margin. The speaker also mentions buying Nongshim products online due to the wholesaler's high prices.
Security Measures and Management [8:48]
The speaker describes the security measures in place, including multiple CCTV cameras and a home cam system that sends alerts to their phone when a person is detected. They review footage when alerts are triggered, focusing on instances where payment didn't occur. The speaker also addresses issues like customers attempting to force cards into the payment slot and the occasional theft of a clip used to remove stuck cards.
Theft and Customer Interactions [10:09]
The speaker notes that theft hasn't been a significant issue. They receive frequent calls from customers needing assistance, such as those without cards or those who accidentally charge the previous customer's card. The speaker believes the neighborhood setting contributes to lower theft rates, as residents are more cautious due to the presence of CCTV.
Profitability and Labor Costs [11:16]
The speaker argues that the potential losses from theft are less significant than the savings on labor costs from running an unmanned store. They estimate that the value of goods that could be stolen in a day is far less than the cost of hiring a part-time employee. The speaker also points out the presence of a nearby supermarket, highlighting the overall moral standards of the community and the deterrent effect of the visible CCTV system.