My Franchise

My Franchise operates an online platform, 'MYFCHA', engineered to tackle the information asymmetry prevalent in South Korea's vast franchise market. Founded in 2019 by CEO Jun-yong Kim and Director Soohyuk Kang, the company was born from Kim's firsthand observations of the challenges faced by aspiring entrepreneurs. Kim's diverse background, which includes roles as a salesman at AhnLab, a café owner, and CEO of the successful startup 'Kidsnote' (which he sold to Kakao), provided him with a multifaceted perspective on business operations and the critical need for data-driven decision-making in the franchise industry.

The platform serves two primary client groups: prospective franchisees and franchise headquarters. For prospective entrepreneurs, MYFCHA provides a comprehensive, all-in-one suite of tools to navigate the complexities of starting a business. It aggregates and visualizes crucial data on over 6,000 franchise brands, including initial investment costs, average sales, franchisee counts, and the financial stability of the franchisor. This allows users to compare and analyze brands, reducing reliance on potentially biased information from franchisors and mitigating the risks of a significant financial commitment. Key features include detailed commercial district and location analysis, which assesses demographics, population density, and local competition to help identify optimal business locations.

For franchise headquarters, the company offers a SaaS solution called 'MYFCHA PARTNER'. This service acts as a franchise management and recruitment tool, enabling brands to effectively advertise to suitable franchisee candidates and manage inquiries. The platform's revenue model is primarily centered on the subscription fees paid by these franchise headquarters for access to the advanced commercial analysis tools. By connecting both sides of the franchise ecosystem, My Franchise aims to foster healthier growth and increase the success rate for new businesses in a market where self-employment is common. The company has secured significant backing, including a Series B funding round of 9.5 billion KRW in June 2022 from investors like Naver D2SF, IMM Investment, and Company K Partners.

Keywords: franchise platform, commercial analysis, location analysis, startup information, franchise data, franchisee recruitment, business intelligence, South Korea franchise, SME platform, data-driven startup, franchise management, MYFCHA, MyFranchise.kr, Jun-yong Kim, venture capital, SaaS, business analytics, market intelligence, entrepreneurship tool, franchise comparison