Comedian Kim Won-hyo (45) shared his thoughts on the reasons why celebrities fail in their business ventures.
On Oct. 18, a video was released on the YouTube channel 'Business Building Owner Kang Ho-dong,' featuring Kim Won-hyo appearing and engaging in conversation.
Kim said that he recently started a group-buying market business under the brand OffLINE, saying, "People ask me why I haven't been on TV lately, but you can't just say you want to appear on broadcasts; you have to be invited. You can take out loans to start a business even without money, but that is not the case with broadcasting."
He said he had experienced trial and error through various businesses. Kim said, "I tried running a kimbap shop, a panty business, and even sold Jirisan air," adding, "There were stages before I got to where I am now. A business does not succeed just because you are good at it. You have to learn."
He shared his thoughts on why celebrities fail in business, citing high income as the first reason.
Kim said, "The income celebrities earn from broadcasting activities is highly efficient when measured by hourly or daily rates," noting, "Singers perform a few songs at events and receive tens of millions of won, while hosting an event for one or two hours earns them several hundred thousand won."
He explained that even if a store generates high sales, the actual profit after deducting various costs is often less than expected.
He stated, "Even if business goes well and monthly sales exceed 100 million won, having many employees means expenses increase accordingly. After all deductions, there is not much left," adding, "As a result, celebrities think, 'It would be better to do one event than run a business for an entire month,' and consider going back to their previous work."
Regarding franchise businesses, he pointed out, "The income from a single store may be less than earnings in the entertainment industry, but if profits from multiple stores accumulate, it can eventually grow so large that it becomes difficult for entertainment industry income to keep up," adding, "They fail to reach that stage."
He cited business structure as the second reason. He noted that most celebrities participate by merely lending their name or holding a stake without taking direct responsibility, making it difficult to actively engage in management.
Kim said, "To avoid the risks they would have to bear if a business fails, many people participate by using their image rights or simply holding a share," adding, "Even with just a share, one could do well if they participated actively, but that is not easy. If even 100,000 won or 500,000 won of my own money goes in, I work harder just to avoid wasting it."
in ENTERTAINMENT
