As if by the saying "just touching the hand yields a jackpot in the hundreds of billions," the survival strategies of those who take bold gambits in the food and beverage (F&B) industry stem not from mere luck, but from meticulous calculation and ceaseless innovation. On the 24th, at the Caviar headquarters in Apgujeong-dong, Seoul, Park Young-sik, CEO of SG Dain Hyeol, analyzed the essence of the F&B industry both roughly and coolly. He honestly revealed that while he defines the F&B industry as a business with extremely low returns relative to effort, he remains attached to the industry because he discovers fun within it. Caviar has evolved from a simple restaurant menu into an intellectual property enterprise encompassing meal kits and distribution products, establishing a unique business model that commercializes the experience of famous restaurants and sells it. Park diagnosed that despite the chronic issues of rising rent and labor costs, the industry suffers from a double whammy as consumer expectations continue to rise. Even with the same menu, results can vary wildly depending on location, time of day, and atmosphere, creating an unstable structure that can be shaken at any moment. Nevertheless, he emphasized that the reason he has held his ground in the industry for over 20 years is the joy derived from trying new methods earlier than others and creating demand that did not exist in the market. Although he carries the "golden spoon" background as the founder of Samwon Garden and the younger brother of golfer Park Ji-eun, he did not rest on his family legacy; instead, like a graduate of NYU's Hotel Management program, he established SG Dain Hyeol, a new venture, in 2007 with a bank loan and built his own brand.
Park continuously showcased various upscaling brands such as Blooming Garden, Booch's Cut, and Two-Horn Ribeye, steadily growing the enterprise. Revenue increased from 46.7 billion won in 2020 to 48.8 billion won in 2025, with a target of 60 billion won for this year. Notably, the Caviar business surged from 14.5 billion won in 2020 to 7.5 billion won last year, growing by approximately 417% in five years. He expressed that he is closer to a 1.5-generation entrepreneur than a 2nd-generation one, displaying an entrepreneurial spirit that experienced failure and success directly on top of the foundation of family business. One of the keys to his success is a cool-headed strategy that does not get swept up in trends. Rather than avoiding the flow of trends that rise and fall on SNS within a few months head-on, he catches points that consumers are not yet familiar with but will soon accept, seizing a timing that is "a bit ahead of the times." If one gets too far ahead, consumers cannot follow; if one gets too late, one falls into a red ocean. The "Two-Horn Ribeye" launched in 2012 is a pioneering example that broke the stereotype of a meat restaurant that pairs with soju or beer by creating a space to enjoy wine together. Even the reversed preference for meat cuts, such as Cheop (cheek) and Ribeye, was considered a strange move at the time but twisted the market formula to open new opportunities.
Sudden success is surprisingly easy, but creating a brand that lasts requires differentiation that is impossible to simply imitate. This is because, after achieving great success like Two-Horn Ribeye, similar outlets flood the market, potentially damaging the brand's value. He strives to include elements that are difficult for others to copy easily, such as distribution structure, service methods, and spatial experience. Furthermore, the strategy of "constantly changing" is key, as one must renew the brand especially when things are going well. If one stays still, the brand ages, so he periodically renews interiors, menus, and service details to keep it looking like a new brand. He defines the F&B industry not as an opening business but as one of maintenance and improvement. Recently, there is a trend of shifting from creating multiple stores with monthly revenue of 150 million won per store to preferring large-scale models with revenues of 300 million to 500 million won per store. This is because, given the high labor cost ratio in the F&B industry, small-scale operations yield little profit. Buffet-style brands and infinite refill models, which consider not only profit margins but also total sales volume and rotation structures, are also results of this contemplation.
Park also cites psychological design that gives customers a sense of victory as an important strategy. Cost-performance ratio does not simply mean a low price but an experience where customers feel "I won" even after spending money. One must increase psychological satisfaction by combining taste with space, service, and menu composition. He constantly calculates which menu combinations feel less wasteful from the customer's perspective and which services are more satisfying. The target demographic is centered on 30s to 50s with spending power and a clear reason to spend money on dining, rather than early 20s. Recently, he is strengthening family restaurant elements that can capture demand for family gatherings, dates, and entertainment simultaneously. In particular, the introduction of services allowing children to dine without burden is a result of reflecting the discomfort he experienced while raising his own children onto the brand. He emphasized that the F&B industry is a field labor business, so the CEO must detect minute changes in the store daily and pay attention to details. Until recently, he checked food photos from all stores daily via KakaoTalk, viewing that since it is a human endeavor, sensitively reading changes in the field determines success or failure. He explained to young people not to view the F&B industry as easy, noting that a complex system where rent, labor costs, and cost management all operate simultaneously. While pointing out that a brand that does well today may struggle to survive in three years, he advised that even if one fails, the learning gained from the process is great. He warned that sufficient contemplation and field experience are essential for learning, and that blaming the world after failure can lead to repeating the same mistakes.