1516T2g1 South Korea/Project Teams/Team 10/Companies
| Team 1 | Team 2 |
| About Us | Our Companies |
It is all about the learning process. Others can teach you, but only you can educate yourself.
Social Enterprises are organisations that maximize improvements in human and environmental well-being through commercial strategies
Corporate Social Responsibility (CSR): Commit to social objectives to make their business more valuable, “Doing charity while doing trade”
Social Enterprise: Commit to social objectives is central to their mission/vision, and may/may not offer benefits to investors, “Doing charity by doing trade”
What is Weenu?
“Online and offline artist network platform to directly interact, market and sell their talents”
Korean global studio and social networking services (SNS) platform for artists and craftsmen. It's new business model is to form an online and offline artist network platform for Art major students and other artists. This helps to empowers artists to directly interact, market, and sell their talents.
History of Weenu
Up till now still expanding their business, but can’t really find what they are doing, so this could be something that we want to ask when we visit them.
Founding of Weenu
Business Model
The business model of Weenu is that artists will first post artworks via Weenu application. Afterwhich,the artist will receive a copyright notice of his work. The artist's works will be placed for an artwork auction, lease, sales communication and marketing between the potential buyers via the application. Potential buyers can enjoy the different artworks, enquire on the works and buys it if he is interested.
And what are the profit models from this? Weenu also provides art advisor with a consulting fee for enterprise buying artwork, art collaboration, and events with the artists. A small 5% of the sales transaction on the application will be absorbed. They also have cloud funding same as crowd funding, just that’s what they call it. They can help artists raise funds for a particular piece of work, and they earn 5% of funds raised. Weenu also helps each artist to create a art portfolio with template, image searching items, contents archive (B2B) so to help artists get a job.
Competition
Weenu will offer better marketing opportunity for artists by a free artwork registration policy with minimized transaction fee (5% which is only one tenth of other existing services) and better shopping experience for customers by establishing direct contact between artist and customer.
Weenu’s web/mobile based platform is a brand new marketplace both benefits artist and customer
To differentiate Weenu from existing platforms, Weenu issues a QR code and copyright notice for every posted artwork/merchandise.
SWOT Analysis
Strength
Weenu is the first social enterprise in the Arts industry, which is very different from the common industry as eCommerce. All the artists' works tell stories. No listing fees and price plans implemented, which means everyone can sell their works via the application.
Weakness
And of course, with a small team, Weenu does not have its global presence yet compared to its competitors.
Opportunities
Compared to competitors, they do not seem to have the global presence. They do have an online platform, which presumably can scale easily. There are many people in many other different countries that appreciate art, and it seems to us that Weenu may not need the people in such countries to actually do art. As long as the appreciation is there, then the expansion is possible. They can also collaborate with other social enterprises that have physical shops where the artworks can be put up for display and sold. They can even be the leaders in the art industry to create such awareness. What they are doing is real, and there is always a story behind every artwork, so this is something that is really special about Weenu and everyone should know about.
Threats
Their competitors have been in the market for awhile now, and they could easily lower their prices in order to compete with Weenu.
Moving Forward
Right now, we are unsure why Weenu is not establishing a global presence other than the countries listed in the figure above. This is something that we should find out during the visit.
