2014 took off with an impressive start for BLU Realty Group’s Andy Kim and his team. Kim and his team have been chosen to be the exclusive broker for Caffe Bene, a popular South Korean coffee and pastry chain.
Caffe Bene, often considered the Starbucks of South Korea, has more than a thousand locations in Asia. Desiring to expand into the United States, the chain has chosen New York City as its focus to break into the American market. Retail rents in some communities are at all time highs and competition is expanding. Regardless of the fact, Caffe Bene has signed deals with more than 80 individual franchisees for locations throughout the five boroughs, according to Min Hong, the United States franchise development manager. Hong believes that focusing on Manhattan as their first step in their strategy to succeed in the American market will bring brand awareness. Hong also believes that the Manhattan market is the most competitive in the United States. Acquiring their first American locations in Manhattan will prove that if they can make it in the Manhattan market they can succeed anywhere in the United States.
Last month Caffe Bene singled out BlU Realty Group broker Andy Kim and his team for the exclusive mission of finding the right locations for the franchises. BLU Realty Group prides itself on it’s expertise in luxury residential and commercial real estate. Some of the neighborhoods being considered for the franchises include Soho, Little Italy, the Financial District, and outer boroughs such as Brooklyn’s Chinatown. New Yorkers love their coffee and an annual report conducted by the Center for an Urban Future found that food chain store locations are on an increase. There are more and more food dollars to be captured in the Manhattan market.
Presently Caffe Bene has three locations open that include Time Square, Chelsea and Flushing. Though future locations will be owned and operated by franchisees, the corporate office owns these three existing stores.
BLU Realty Group looks forward to serving Caffe Bene.
More about Andy Kim: http://blurealtygroup.com/agents/the-kim-team