WINNER

Katsu & curry house survived 7 yr · WINNER

Matsumoto Aoi, 48 · 7 yr

“Hit NT$28.4M in revenue and cried in the storage room”

A second location. And I know luck was part of it.

You opened a second location. Cash NT$1,651,092, debt NT$277,288, 0 employees, 666 customers. The neighborhood has a name for it: "that place." Even with two sets of bills, you are less anxious than at the start. But you know it was not only skill.

How it went

1. 2026 · preparing to openMatsumoto Aoi, 42. You have decided to try starting a company in Hsinchu and other regions. No idea, no product yet. Savings NT$695,073, employed (NT$28,783 a month).
2. 7/2026: what now?Start a business: «Street-food & lunchbox shop» — You are going with «Street-food & lunchbox shop». Next: a location and people.
3. First, the right to stayGet an investor visa — It took three months, and two extra trips for one missing form. The day the residence card arrived, you finally felt like a business owner here.
4. Where to start, and with whatGround floor with foot traffic — It is a good spot. People walking by see the sign. The money going out every month got heavier.
5. Who opens the doors with you?Hire one experienced person properly — In the interview they knew this trade better than you. A little uncomfortable, a lot reassuring.
6. 2026 · year 1 beginsUS Rates Rose Again
7. 7/4 · HeatwaveA heat warning. The air conditioning ran all day. The electricity bill is on your mind.
8. An insurance agent dropped byTake the full package — Signed, hoping you never need it.
9. 8/5 · Equipment stoppedA key machine broke. Three days for the part to arrive; you did it by hand until then.
10. 9/22 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
11. 9/26 · Loan payment dayLoan payment day. NT$7,141 in principal and interest left the account. The balance is NT$623,271.
12. The “NT$320,000 a month or your money back” coursePay for it — The course was free YouTube videos stitched together. When you asked for the refund the reply was “assignments incomplete,” then nothing. You filed a report. The officer said it was closed: “no contact.”
13. 10/6 · More regularsA regular brought a coworker. “I’ve told everyone about this place.”
14. 11/5 · Building repairsWater leaked from upstairs. You and the landlord argued over who pays for the stain on the ceiling.
15. 11/18 · Supplier price increaseThe delivery driver said a freight charge starts next week. In effect, a 9% rise.
16. 12/5 · A small price riseEvery day there are more customers than you can take. You raised prices 5% and they kept coming.
17. 12/8 · The exchange rate pushed up import billsThe TWD/USD rate rose to 33.28. Imported flour and cooking oil follow it up.
18. Your staff member didn’t show upGet same-day cover — A stranger turned up. They didn’t know the ropes and made mistakes, but you stayed open.
19. 1/8 · Oil reached the cost baseBrent rose to $122 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
20. 2/13 · Street festivalA festival opened nearby. Foot traffic doubled.
21. 2/25 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
22. 3/21 · Hygiene inspection noticeA hygiene inspection notice arrived from the health department. You started with the fridge temperature log.
23. A review farm makes an offerDecline — You deleted the message. That week one customer left a good review on their own. One.
24. 4/9 · An employee quitAn employee said this month would be their last. The big store down the road pays more an hour.
25. A gap opened in the rotaMake an urgent replacement hire — A new colleague joined. Work is shared, but payroll and onboarding are now recurring responsibilities.
26. 5/26 · HeatwaveA heat warning. The air conditioning ran all day. The electricity bill is on your mind.
27. 6/3 · Heavy rainHeavy rain cut the foot traffic to nothing. Two reservations cancelled.
28. Night market stall or delivery platform?Open a stall at the night market — At ten at night the queue went once around the alley. Your legs ached, but the cash drawer was heavy for the first time in a while.
29. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the TWD/USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
30. Year 1 closeRevenue NT$3,464,377, operating profit NT$979,084. Cash NT$643,138.
31. 2027 · year 2 beginsChinese Demand Cooled
32. 8/16 · The bank asked for documentsThe bank asked for revenue evidence and the business plan again. One line said they would review whether the existing limit can be maintained.
33. 9/18 · A small price riseEvery day there are more customers than you can take. You raised prices 5% and they kept coming.
34. Demand is outrunning the teamDefer for free — You spent nothing and will reconsider at another opportunity.
35. 10/15 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
36. 11/12 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
37. 11/15 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
38. 12/29 · Loan payment dayLoan payment day. NT$7,105 in principal and interest left the account. The balance is NT$542,174.
39. How to handle the bad reviewsSend a certified letter — The accounts that received the certified letter went quiet. It felt less like winning than like spending money and time on a fight.
40. 1/14 · Funding costs rose againThe US 10-year yield rose to 5.65%. The bank is taking another look at your loan terms.
41. 2/6 · A family emergencyThe school called about your child. You left the work in other hands and rushed over.
42. 2/8 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
43. 3/15 · Hygiene inspection noticeWord went round that a shop on your street was fined at inspection. You redid the kitchen cleaning rota.
44. Raise the service standardDefer for free — You spent nothing and will reconsider at another opportunity.
45. 4/20 · Down sickDay three of a cold that will not lift. No time to see a doctor.
46. 5/18 · Supplier price increaseThe supplier said prices go up 8% from the next order. You need to find another supplier.
47. 5/22 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
48. 6/27 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
49. This time you sell the courseWalk away — The agency probably sent the same pitch to another owner the next day. You opened the books again.
50. Chinese Demand CooledA prolonged slump in Chinese domestic demand and real estate lowered Asia's export outlook. Clients who bought raw materials cut orders, and domestic consumption turned cautious as well.
51. Year 2 closeRevenue NT$3,807,215, operating profit NT$1,095,662. Cash NT$1,259,645.
52. 2028 · year 3 beginsThe Tech Investment Cycle Came Back
53. 7/15 · A competitor made a moveA nearby competitor started heavy social ads. Search for your shop and their ad comes up first.
54. 7/21 · The exchange rate pushed up import billsThe TWD/USD rate rose to 32.98. Imported flour and cooking oil follow it up.
55. 8/14 · More regularsThe same customer came three times this week. “I don’t go anywhere else,” they said.
56. 8/20 · Heavy rainHeavy rain cut the foot traffic to nothing. Two reservations cancelled.
57. 9/6 · The bank asked for documentsThe loan extension paperwork arrived: financial statements and copies of the business tax returns, please.
58. 9/16 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
59. Demand is outrunning the teamDefer for free — You spent nothing and will reconsider at another opportunity.
60. 10/9 · Records requested by the tax officeNational Taxation Bureau requested records for LINE Pay and JKOPAY sales and cash sales. You opened the books again.
61. 11/4 · Card terminal outageThe card terminal died at the busiest hour. You served only customers paying cash.
62. 12/4 · Supplier price increaseThe delivery driver said a freight charge starts next week. In effect, a 6% rise.
63. 12/13 · Building repairsThe landlord said the pipes need repair and asked you to cut opening hours for two days.
64. Do you raise prices?Hold prices — The price tags stayed. The account got thinner, but the regulars stayed. You decided to believe that was right.
65. 1/19 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
66. 2/18 · A small price riseEvery day there are more customers than you can take. You raised prices 5% and they kept coming.
67. 3/11 · Funding costs rose againThe US 10-year yield rose to 5.69%. The bank is taking another look at your loan terms.
68. 3/21 · A competitor made a moveA nearby competitor started heavy social ads. Search for your shop and their ad comes up first.
69. The competitor cut pricesCompete on quality — Customers came for the price and stayed for the quality. It took three months for that difference to reach revenue.
70. 4/10 · Loan payment dayLoan payment day. NT$7,084 in principal and interest left the account. The balance is NT$451,251.
71. 4/21 · An employee quitAn employee said this month would be their last. The big store down the road pays more an hour.
72. Someone else has quitMake an urgent replacement hire — There were a few mistakes in the first week. From the second week you had time to rest.
73. 5/10 · The exchange rate pushed up import billsThe TWD/USD rate rose to 32.98. Imported flour and cooking oil follow it up.
74. 5/14 · More regularsA regular brought a coworker. “I’ve told everyone about this place.”
75. 6/6 · Supplier price increaseA new price list came from the supplier: your most-used items are up 7%. You redid your prices.
76. 6/16 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
77. Do you open a second location?Open a second location — You hung the second sign. The first month was exciting. The second month brought two sets of bills.
78. The Tech Investment Cycle Came BackSpending on AI infrastructure and software increased, and chip and IT export figures improved. Even with recession talk everywhere, only technology budgets were moving in another direction.
79. Year 3 closeRevenue NT$3,813,355, operating profit NT$1,041,250. Cash NT$1,765,131.
80. 2029 · year 4 beginsA Competitor Opened Right Outside
81. 7/25 · Oil reached the cost baseBrent rose to $134 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
82. The lease is upSign on those terms — You signed. The regulars, none the wiser, came in as usual.
83. 8/3 · Equipment stoppedA key machine broke. Three days for the part to arrive; you did it by hand until then.
84. 8/6 · A small price riseEvery day there are more customers than you can take. You raised prices 5% and they kept coming.
85. 9/29 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
86. Your staff member didn’t show upGet same-day cover — A stranger turned up. They didn’t know the ropes and made mistakes, but you stayed open.
87. 10/19 · Down sickDay three of a cold that will not lift. No time to see a doctor.
88. 11/13 · Hygiene inspection noticeGetting ready for an inspection, you re-labelled every date sticker. It took two hours after closing.
89. 11/23 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
90. 12/15 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
91. 12/21 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
92. Demand is outrunning the teamHire one employee — The recruiting fee was spent, but no suitable candidate was found.
93. 1/30 · A competitor made a moveA shop in your line opened across the street. A big grand-opening discount banner went up.
94. 2/18 · A small price riseEvery day there are more customers than you can take. You raised prices 5% and they kept coming.
95. 3/18 · Loan payment dayLoan payment day. NT$11,269 in principal and interest left the account. The balance is NT$678,322.
96. 3/19 · The bank asked for documentsThe bank asked for revenue evidence and the business plan again. One line said they would review whether the existing limit can be maintained.
97. “There was something in my food. Pay up.”Pay and make it go away — Having taken the envelope, the customer left five stars. Somehow that felt worse.
98. 4/3 · Records requested by the tax officeNational Taxation Bureau requested records for LINE Pay and JKOPAY sales and cash sales. You opened the books again.
99. 5/13 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
100. 6/9 · Hygiene inspection noticeGetting ready for an inspection, you re-labelled every date sticker. It took two hours after closing.
101. Health inspection findingsFix the paperwork only — The re-inspector reached for a thermometer first.
102. A Competitor Opened Right OutsideSame trade, similar goods, prices 10% lower. From the first week, your regulars walk toward it. Competition is not an abstract word; it is the sign visible outside your window.
103. Year 4 closeRevenue NT$4,413,598, operating profit NT$995,197. Cash NT$1,884,248.
104. 2030 · year 5 beginsA typhoon closed the shop
105. 7/9 · Street festivalA festival opened nearby. Foot traffic doubled.
106. 8/10 · Card terminal outageThe card terminal died at the busiest hour. You served only customers paying cash.
107. 9/27 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
108. Do we issue uniform invoices?Issue uniform invoices and file at 5% — The first return was long. But company clients became regulars, and mail from the tax office got a little less frightening.
109. 10/4 · Heavy rainHeavy rain cut the foot traffic to nothing. Two reservations cancelled.
110. 11/26 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
111. 12/22 · A family emergencySomething came up in the family. You dropped what you were doing and went over.
112. Demand is outrunning the teamDefer for free — You spent nothing and will reconsider at another opportunity.
113. 1/8 · The bank asked for documentsThe loan extension paperwork arrived: financial statements and copies of the business tax returns, please.
114. 1/27 · More regularsA regular brought a coworker. “I’ve told everyone about this place.”
115. 2/3 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
116. 3/29 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
117. Do you start delivery?Build your own ordering channel — Customers ordered directly by phone and chat. There were fewer orders, but no commission.
118. 4/6 · Street festivalA festival opened nearby. Foot traffic doubled.
119. 5/5 · Hygiene inspection noticeWord went round that a shop on your street was fined at inspection. You redid the kitchen cleaning rota.
120. 5/22 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
121. 6/4 · A competitor made a moveThe shop directly opposite started 10% off. A few regulars went there.
122. Keep going like this?Change concept: Katsu & curry house — New name, new lineup. A few regulars said they liked it better before; new faces started walking in.
123. A typhoon closed the shopThe weather agency issued a typhoon warning and the city shut down. You could not open for two days. Sales stopped while rent went out on schedule. Cleanup and disposal cost NT$12,652.
124. Year 5 closeRevenue NT$4,660,735, operating profit NT$1,210,700. Cash NT$2,421,418.
125. 2031 · year 6 beginsGlobal Energy Prices Surged · The Currency Calmed Down
126. 7/15 · Supplier price increaseA new price list came from the supplier: your most-used items are up 6%. You redid your prices.
127. 8/25 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
128. 8/28 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
129. 9/22 · More regularsYou now know more than ten customers by name, and you catch yourself asking, “The usual?”
130. The shop looks tiredA full refit — On reopening day a passer-by asked whether you were new. An old regular sat in a new chair and smiled.
131. 10/9 · Street festivalA festival opened nearby. Foot traffic doubled.
132. 10/28 · Building repairsWork started on the building’s facade. Scaffolding went up in front and hid your sign.
133. 11/26 · Card terminal outageThe card terminal died at the busiest hour. You served only customers paying cash.
134. 12/29 · Rate hike newsThe news said the policy rate went up. You reread the terms on the existing loan.
135. Demand is outrunning the teamImprove the workflow — The training worked. The team improved without adding headcount.
136. 1/16 · Oil reached the cost baseBrent rose to $132 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
137. 2/26 · A competitor made a moveA nearby competitor started heavy social ads. Search for your shop and their ad comes up first.
138. 3/4 · An employee quitAn employee said this month would be their last. The big store down the road pays more an hour.
139. 3/10 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
140. One pair of hands short at the rushDefer for free — For now the people left will cover it. The day got longer by one person.
141. 4/9 · Hygiene inspection noticeA hygiene inspection notice arrived from the health department. You started with the fridge temperature log.
142. 4/11 · Loan payment dayLoan payment day. NT$11,255 in principal and interest left the account. The balance is NT$432,183.
143. 5/22 · Down sickDay three of a cold that will not lift. No time to see a doctor.
144. 6/21 · The bank asked for documentsThe bank asked for revenue evidence and the business plan again. One line said they would review whether the existing limit can be maintained.
145. 6/24 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
146. Hiring againDefer for free — You spent nothing and will reconsider at another opportunity.
147. Global Energy Prices SurgedTension in the Middle East pushed international crude prices up. Ships loaded with oil could not pass, and freight and packaging costs rose with them. A war in the news became a number on next month's cost sheet.
148. The Currency Calmed DownThe dollar's strength eased and the TWD/USD rate came down. Imported material costs fell a little, and anyone paying overseas suppliers could breathe again.
149. Year 6 closeRevenue NT$4,404,184, operating profit NT$1,047,228. Cash NT$2,396,929.
150. 2032 · year 7 beginsHygiene Inspection
151. 7/21 · Supplier price increaseA new price list came from the supplier: your most-used items are up 7%. You redid your prices.
152. The lease is upSign on those terms — You signed. The regulars, none the wiser, came in as usual.
153. 8/9 · A competitor made a moveA shop in your line opened across the street. A big grand-opening discount banner went up.
154. 9/7 · Rate hike newsThe news said the policy rate went up. You reread the terms on the existing loan.
155. 9/26 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
156. The first cushionPut it back into equipment — The day the new equipment arrived, someone took a photo. The work felt lighter from the first week.
157. 10/17 · Oil reached the cost baseBrent rose to $127 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
158. 10/20 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
159. 11/3 · Street festivalA festival opened nearby. Foot traffic doubled.
160. 12/6 · Card terminal outageThe card terminal died at the busiest hour. You served only customers paying cash.
161. 12/23 · Loan payment dayLoan payment day. NT$11,277 in principal and interest left the account. The balance is NT$350,303.
162. Demand is outrunning the teamHire one employee — There were a few mistakes in the first week. From the second week you had time to rest.
163. 1/14 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
164. 2/6 · Equipment stoppedThe fridge stopped during the afternoon rush. You threw out part of the stock and called a repair technician.
165. 3/14 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
166. 3/29 · A family emergencySomething came up in the family. You dropped what you were doing and went over.
167. Health inspection findingsFix the paperwork only — The re-inspector reached for a thermometer first.
168. 4/22 · Oil reached the cost baseBrent rose to $127 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
169. 5/15 · Street festivalA festival opened nearby. Foot traffic doubled.
170. 6/3 · An employee quitAn employee said this month would be their last. The big store down the road pays more an hour.
171. 6/21 · Supplier price increaseThe delivery driver said a freight charge starts next week. In effect, a 5% rise.
172. Ryo says they are leavingAsk for one more chance — You tried, but Ryo left.
173. Your body wants to stop firstClose for two weeks — You turned off your phone for two weeks. The work was as you left it, and your body was a little lighter.
174. Hygiene InspectionThe health department came for a hygiene inspection. The refrigerator temperature log was missing. The fine is small, but the result posted on the notice board matters to customers.
175. Year 7 closeRevenue NT$3,832,656, operating profit NT$892,310. Cash NT$2,471,134.

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