The Venti waives all royalties amid 'COVID-19' spread... Support measures for franchise owners established

[Asia Economy Reporter Lee Seon-ae] The large-capacity coffee franchise The Venti is providing substantial support at the headquarters level for franchise owners who are struggling due to the domestic demand slump caused by the novel coronavirus infection (COVID-19).

On the 27th, The Venti announced that it will waive the entire royalty fee for February and reduce logistics costs by 10% for over 430 franchise stores nationwide. This is intended to share the difficulties faced by franchise stores due to a decrease in customers amid the ongoing COVID-19 situation and to minimize damages.

The Venti plans to continuously monitor the scale of damage and difficulties of each franchise store and prepare additional support measures within March, providing generous support until the sales of all stores return to normal.

The Venti delivered a letter signed by the CEO to all franchise stores, expressing the support measures and the intention to share the pain of the franchisees. In response, The Venti franchise owners shared the news through their own social networking services (SNS) and expressed their gratitude, showing their determination to overcome the COVID-19 crisis together.

Representatives Kang Sam-nam, Park Su-am, and Choi Jun-kyung said, “We deeply sympathize with the concerns of our franchise owners and, to wisely overcome the current situation, all employees intend to share the pain with the franchise owners,” adding, “Although the current situation is uncontrollable, if The Venti headquarters and franchise stores unite as one, we will be able to overcome this difficult time,” promising active support.

This content was produced with the assistance of AI translation services.