“My neighborhood taiyaki bakery has disappeared”-Maeil Business Administration

# Kim Mo (24), a winter snack enthusiast, waits only every Wednesday these days. This is because it is the day when a street vendor of Taiyaki comes near the house. Mr. Kim said, “When I was young, there seemed to be a stall at each traffic light, but these days it’s hard to see it so I have to find it.”

A street vendor disappeared in winter. The representative industry is Taiyaki. In search of a place where taiyaki bread stalls are located, the new term’Bungeobong (Taiyaki + Station)’ is created. This is because the number of stalls has decreased due to strengthened crackdown on unauthorized stores, and the price of major raw materials has risen, making it difficult to meet the profitability.

◆ Why did Taiyaki stalls disappear?

According to the Agricultural and Fishery Food Distribution Corporation (aT), the price of a domestic red bean wholesale (40 kg), a key ingredient for taiyaki bread as of the 8th, was 444,750 won, up 43.4% from a year ago (31 million won). The price of imported red beans also jumped 30% to 231600 won. This is because the amount of soybean math dropped sharply during the exceptionally long rainy season last year.

As raw material prices increased, street vendors’ profits deteriorated. A new coronavirus infection (Corona 19) also contributed to the lack of awareness of street food. A street vendor of Taiyaki said, “When the profits are good, I work 8 hours a day and earn 100,000 won, but these days I barely take 60,000 won.”

A service to find street vendors also appeared. Carrot Market last month created a’winter snack map’ that allows users to directly input and search the sales locations of roasted chestnuts, roasted sweet potatoes, and taiyaki bread. This service focuses on the rapid increase in the number of neighbors asking and answering winter food outlets on the’town life’ bulletin board. In addition, apps that tell you the location of street vendors, such as `3,000 won in your chest` are also gaining popularity in the store.

There have also been home-baking families who make their own taiyaki bread. According to WeMef, in November of last year, sales of’Taiyaki Pan’, which can be baked in the shape of taiyaki, increased by 105% compared to the same month last year. The sales volume of taiyaki bread mix and red bean paste for dough also increased by 88% and 820%, respectively.

◆ Coronavirus inquiries 3 times

It was difficult to find a street vendor, but inquiries about startups increased rapidly. Self-employed people who have closed their business due to Corona 19 or whose sales have fallen are going to sell Taiyaki. In the case of a taiyaki bread vendor, the threshold is low as they rent out household items free of charge for only 300,000 won in the initial startup cost based on Seoul. In fact, in the online community of self-employed people, there are many articles such as “I close the gym and sell taiyaki bread by social distancing,” and “It’s a pub on the 1st floor, but after 9pm I sell takoyaki in front of the store.”

However, it rarely leads to an actual start-up. An official of a Taiyaki stall franchise said, “In this winter, startup inquiries have increased more than three times compared to last year.” In most cases, only 2-3 out of 10 inquiries lead to startups, and the rest are only complaining and then quit. It’s bitter because it seems that self-employed people are having a hard time.”

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