[Why wadiz? #3] Why wadiz Is a Game-Changer for Fine Dining

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• The fine dining industry is currently receiving more attention than ever before.
• Funding allows you to estimate and prepare the number of dishes to be served.
• Wadiz has many supporters who are looking for special experiences like fine dining.

Source: Still from Netflix’s “The Black and White Chef”

With the success of the Netflix series *The Black and White Chef*, the fine dining industry is attracting more attention than ever before. It’s a golden age where reservations for two or three months fill up in just a few minutes. But those in the industry will surely agree: fine dining is often called “the art of gastronomy.” This means it’s a business model that struggles to turn a profit without corporate sponsorship. Enormous fixed expenses—such as ingredient costs, labor costs, and rent—that cannot be compromised pose a major hurdle to restaurant operations.

How do customers view fine dining?They tend to think of it as a place they can’t visit anytime—such as “a place to go on special occasions” or“a restaurant for high-income earners.” That’swhy it’s crucial for restaurants to attract new customers.

Is there really no solution for making fine dining profitable?

What about the situation overseas, where the fine dining industry is more vibrant than in Korea? It’s said that “funding” is emerging as a new alternative for monetization abroad.Just as a few restaurants in Koreahave begun to see positive results through funding. 

So in today’s post, we’ll explorefine dining funding—a potential new path for the fine dining business. If you’re a restaurant owner or chef in the fine dining industry, please pay close attention. Through successful cases both at home and abroad, we’ll examine the unique synergy between fine dining and funding and explain why you should consider launching a funding campaign.

Reason 01: Why Funding Is a Breakthrough for Fine Dining 
You can focus on your cuisine and service while securing a new customer base.

Source: Chojul Yaki Motomoto Makuake Funding

For example, on the Japanese crowdfunding platform “Makuake,” membership funding for premium and private restaurants is already popular. These campaignsoften include exclusive services, such as revealing the restaurant’s address only to participatingmembers. The maker of “Chojyoku Yaki Motomoto,” a restaurant in Sangenjaya, Japan, that serves a yakiniku course, first announced its 2022 opening through funding to recruit early members. Following a steady stream of inquiries, they launched another membership funding campaign just one year later. As a result, they attracted over 1,000 new customers and raised nearly 200 million won.

These membership passes, which require visitors to dine at the restaurant within a specified period, function much like admission tickets. The funding allows the chef and restaurant to determine the number of tickets and the schedule in advance.In fine dining, where the freshnessof ingredientsis crucial,being able to estimate and prepare for the number of dishes to be served is a significant advantage. This can be a win-win situation for both chefs who want to provide the ultimate dining experience and customers who want to enjoy that kind of culinary culture.

Reason 02: Why Funding Is a Breakthrough for Fine Dining.
“Differentiation Through Membership Funding”: Even fine dining can build a base of regular customers.

Several restaurants that launched funding campaigns to attract new customers discovered another unexpected opportunity: encouraging repeat visits from their first-time customers . Customers who first visited the restaurant through the funding campaign reportedly returned because they wanted to introduce it to friends or because they wanted a reliable restaurant to celebrate a special occasion.

Detail page for the membership card of Japanese cuisine restaurant <WASHOKU Higashi> / Source: wadiz

This is the case of the “Higashi” maker, who raised approximately 24 million won through wadiz funding last November. From the very beginning of their Story, they positioned the restaurant not as a fine-dining spot that’s hard to book for special occasions, but as a cozy “hideout” where customers could comfortably spend time with their loved ones. Since they positioned it as a restaurant people could visit frequently, they introduced a membership card that could be reloaded with funds as part of the Rewards program.

This membership card is loaded with the amount the customer contributed to the funding campaign and can be used for payments just like a regular card. They also ran various promotions, such as adding a bonus amount to the initial top-up or offering a one-time service benefit.

Details page for the membership card at <BURPAES>, a restaurant specializing in course meals / Source: wadiz

Another example is Bapies Maker, which aims to be a sophisticated contemporary bar. They ran a funding campaign offering special courses and beverage pairings available exclusively when paying with the membership card. They curated the cuisine and service to ensure that members could enjoy a uniquely special experience at their upscale private bar in Seongsu-dong.

Higashi, an actual review from a supporter who participated in Bar P.S.’s fine dining funding campaign / Source: wadiz

Customers who hold a membership card can later recharge it to enjoy another special course and return to experience it with someone else. This explains why reviews from supporters who visited the restaurant through the funding campaign frequently mention plans to return, with comments like, “I want to go whenever I have a special occasion with friends,” or “I plan to visit again with my parents .” In this way, fine dining funding can bridge the psychological gap between customers and fine dining, serving as a way to bring customers into our customer base.

Reason 03: Why Funding Is a Breakthrough for Fine Dining.
wadiz supporters are willing to invest their time and money in unique experiences.

Here’s another reason why the membership funding campaigns for “Higashi” and “Bapi” received such a positive response: the customer base on wadiz actively seeks out special experiences like fine dining. Wadiz is a platform where new products and services are welcomed. Supporters who visit wadiz are familiar with new services and are eager to experience them firsthand. 

Unique photography campaigns—such as those featuring French masterpieces or underwater photography—are currently receiving over 100 million won in funding / Source: wadiz

For example, there’s a photography funding campaign that achieved great success in a similar vein to the fine dining campaign. The project structured photography services around unique concepts—such as underwater photography and Hanbok photo shoots—and then raised funds by attracting supporters. Despite featuring concepts rarely seen in everyday life and high-priced Rewards ranging from 30,000 to 500,000 won, it achieved remarkable results.Thanks to the success of thesephotography funding campaigns ,distinctive concepts are appearing on wadiz more and more every day. 

Makers say that because they secured customers in advance through the funding campaign, they were able to devote more effort to bringing their concepts to life. This led to high satisfaction among supporters who experienced the photo shoots. As such, wadiz supporters are willing to invest their time and money in special experiences, and makers can use funding to elevate the quality of their services. 

In the same vein, while fine dining is often called “the art of gastronomy,” with public interest at an all-time high, demand for this experience is likely at its peak right now. Why not use wadiz funding to kickstart a virtuous cycle for your fine dining business—by welcoming wadiz supporters seeking something special as new customers to your restaurant, and having those customers bring in even more customers? 

<WHY wadiz?> Series

• [Why wadiz? #1] Why the “Aesabi” craze started on wadiz
• [Why wadiz? #2] Why Direct-Import Products on wadiz Generate Sales in the Hundreds of Millions
• [Why wadiz? #3] Why wadiz is a breakthrough for fine dining

Makers, check out the services you need!

• Learn [How to Start] a wadiz project
• Check out the [Maker Events] currently open for applications
• Watch [wadiz funding lectures] by Funding Experts
• Launch a Project with a [wadiz Official Expert Partner]

Curious about the fine dining funding process?

Send an email to the address below, and a funding expert will respond directly.
idea@wadiz.kr

Written by Han Ji-hye,Edited by Jeon Su-yeon