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Soup for Soul

• Providing different kinds of fresh and healthy
  soup with healthy food

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Group 25

• Group members
• Anna Ng, Wai Na (2001036109)
• Cheung Chun Kit (2001441201)
• Ng Tsz Lok Gary (2001048047)
• Cheng Wai Yeung Richard (2001047172)

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Presentation Run Down

• Introduction
• Reasons for starting Soup for Soul
• Rationale
• Marketing research and result
• Existing market structure and analysis
• Key success area
• Characteristic and uniqueness
• Target customers
• Set up procedure

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Presentation Run Down

• 5Ps Strategy Product, Price, Place,
  Promotion, Position
• Staffing
• Budgeting
• Daily operation
• SWOT Analysis
• Anticipated problem and possible
  solution
• Prospect
• Personal feeling and learning
• Q A session

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Introduction

• Starting a businessSoup for Soul
• Supplying of a variety of healthy soup and other
  healthy food in a convenient way

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Reasons for starting Soup for Soul

• We like drinking soup and cooking high quality
  and long hourly cooked soup and share with others
• Soup can be highly healthy, natural, with great
  variety
• Soup can make one to be relaxed
• Drinking soup is a traditional Chinese Culture
  and a cue to healthy body and mind

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Reasons for starting Soup for Soul

• Hong Kong people like drinking soup and they are
  becoming health conscious
• The working pace is fast, together with other
  reasons, which makes the habit of drinking soup
  is relatively less popular
• There is space for setting up Soup for Soul

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News
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News
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Rationale

• 1. To provide a quick and convenient way for
  people to enjoy different kinds of healthy soup
  with high nitration
• 2. To promote the habit of drinking soup
  regularly so as to have a healthy body and mind

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Marketing Research

• Aim of marketing research
• Customers value and preference analysis
• Giving relevant information on setting 5 Ps
• Existing market structure vs. the feasibility of
  Soup for Soul

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Research methodology

• Primary data
• Searching in the internet
• Secondary data
• Questionnaires
• By conducting telephone interviews and survey in
  the internet
• Sample target Our target customersworking
  population, aged range from 18-65
• Sample size 100

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Research result

• 78 like drinking soup
• 22 do not like drinking soup

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Factors that like and drink soup

• Staying healthy (84)
• Beneficial to health (87)
• Tasty (40)
• Personal preference (17)
• As a habit when having meal (25)
• Others (16)

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Factors that do not like and drink soup

• Unhealthy (55)
• Avoid being fat (56)
• Inconvenient to cook soup (66)
• Not tasty (43)
• Personal preference (29)
• Others (15)

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Favorite kinds of soup

• Vegetable soup (20)
• Seafood soup (12)
• Meat soup (8)
• Soup for vegetarian (15)
• Functional soup (with Chinese medical
  ingredient)/soup that has specific beneficial
  effects on bodies (45)

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Ideal soup

• Tasty (80)
• Stay healthy and fit (76)
• Beneficial to health (74)
• Stay young and beautiful (80)
• Improve sexual ability (32)
• No MSG (92)
• Others (12)

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Buying pattern

• 39 would like to buy soup if their ideal soup
  is available in the market
• 61 still consider other factors and do not sure
  whether they would buy soup if their ideal soup
  is available in the market

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Factors to be considered to buy take away soup

• PriceReasonable, no huge difference between the
  price of ingredient and cost
• Kinds of soup A variety kinds to be chosen
• TasteDelicious
• Convenient levelHigh and immediately available
• Functions of soupstay beautiful and young,
  improve mental state, beneficial to health,
  improve sexual ability etc.
• Nutrition levelHigh
• IngredientHealthy, no MSG

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The existing market structure

• There 7 restaurants specialize in selling soup in
  Hong Kong
• There are 4 existing soup delivery services in
  Hong Kong since April 2004
• There are no restaurant specialize in selling
  take away soup
• Some restaurants provide soup apart from other
  food
• Source www.yp.com.hk

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Restaurants specialize in selling soup in Hong
Kong

• 1. Ah Yee Leng Tong????
• Location Quarry Bay, Mong Kok, Causeway Bay,
  Shau Kei Wan
• 2. Tai Woo Soup Restaurant??????
• Location Shau Kei Wan
• 3. Ah Tai Rest??????
• Location Tsim Sha Tsui
• 4. Han Nya Tou Robatayaki???
• Location Quarry Bay

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Restaurants specialize in selling soup in Hong
Kong

• Soup specialized restaurants are less in Hong
  Kong
• Demand is much larger than supply
• Limited choices on the types of soup among the
  customers
• Sources
• Result of our marketing research www.yp.com.hk

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Soup delivery services

• Day Day Soup ??????
• Ah Suet Lan Tong ? ? ? ?
• Smart Soup Workshop ????
• Soupdaily ????

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Soup delivery services

• Order is needed to be made before a day, no
  immediate order can be made.
• Need to pre-pay for the package of the soup and
  the delivery services
• collection of the bowl of soup next day
• Limited area for the delivery services
• Source http//www.daydaysoup.com
• http//www.suetsoup.com
• http//www.smartsoup.com
• http//www.soupdaily.com

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The feasibility of soul and soup

• There is business opportunities
• Few restaurants specialize in providing soup in
  Hong Kong
• No restaurants specialize in providing a variety
  kinds of soup in Hong Kong
• High quality of soup is not easily and
  immediately available, especially in CBD
• There is huge space for starting soul and
  soupA restaurant in CBD providing different
  kinds of long-hourly cooked and healthy soup

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Key success area

• Reasonable price Price set according to the
  price ingredient and types of soup
• Choices 10 different types of soup can be chosen
  by customers
• Taste Delicious with different tastes
• Convenient level Relatively high, the take away
  soup is immediately available
• Functions of soup different soup has different
  beneficial functions to health stay beautiful
  and young, improve mental state, beneficial to
  health, improve sexual ability etc.
• Nutrition level High, natural and fresh
  ingredient is used for cooking, no MSG added

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Characteristics and Uniqueness

• We emphasis on our productdifferent kinds of
  high quality, health and functional soup
• A shop which specializes in selling take away
  soup in CBD
• Caring both health and soul of our customers and
  potential customers
• All soup being cooked for long hours, using
  various kinds of natural ingredient with no MSG
  added

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Characteristics and Uniqueness

• Conducting marketing research seasonally and make
  modification of the recipe and menu list
  accordingly
• Seasonally change of menu list and recipe
• Providing a variety kinds of soup, with different
  themes and functions seasonally
• Getting abreast of the taste of our customers and
  potential customers
• Employing experienced consultants and cooks to
  involve in our company
• Special and convenient packages for take away soup

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Target customers

• White collar office workers
• Busy, think cooking soup is tedious and
  inconvenient.
• Could afford soup besides regular meal for lunch
• A taste of soups with style
• Want to stay healthy, pay attention to quality

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Target customers

• Other auxiliary customers
• Tourists
• Shoppers
• Willing to spend money for taste and style

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5Ps Strategy

• 5Ps
• Product, Price, Place, Promotion, Position

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Position

• Primarily Middle class, bourgeois
• (soups of 10 - 30)
• Also Up market
• (for lavish soups 50)

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Place Address

• 32, Wellington Street, Central, Hong Kong

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Place

• Reason of the choice
• Branch of the Queens Road Central
• Near the MTR station exits
• Flow of people is large
• Lots of commercial centers
• there are many white-collars in this area, which
  are our main target of customers
• the shops nearby also provided different kind of
  customers

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Place

• Only one sit-in soup restaurant in this district
• Not too much competition
• Other kind of restaurant nearby
• The working population can enjoy a bowl of soup
  from our shop after their lunch
• Fitness Center nearby
• Our soup is a must!!!

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Place Location
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Place Internal Design
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Place Our store
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Product

• Mainly focus on soup that beneficial to health
  and fitness
• Provide international style and taste to attract
  variety of customers
• Regular modification of the menu list will be
  made according to the marketing research

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Product Menu list
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Product Menu list
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Product and Price

• Types of soup and price
• Daily Family Slow-cooked Soup 10
• Soup for vegetarian 15
• Nourishing Soup 20
• Soup with International style and Taste 25
• Functional and fitness soup 30
• Luxury Soup 50

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Product

• After purchasing the soup, our customer can enjoy
  following by pay 2 more
• Noodle
• Corn
• Cracker
• Vegetable
• Yam bundles

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Logo and Package

• Use the name of our shop to create the Chinese
  word soup ?

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Promotion

• Distributing Leaflet on the street
• Human Advertising Plate
• Promotion Week
• Foretaste

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Setup procedures

• Rent a shop
• Decoration
• Application for licenses
• Water, electricity and gas
• Buy cooking utensils
• Contact suppliers
• Hire personnel
• Advertising

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Application for licenses

• Business Registration from Inland Revenue
  Department
• Food Factory License from Food and
  Environmental Hygiene Department
• Environmental Permit from Environmental
  Protection Department

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Staffing

• 6 full times
• 4 full time day shift
• 2 full time night shift (1 chef, 1 worker)
• 4 part times
• 1 consultant oversees recipes

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Staff structure
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Budgeting

• Startup expenses

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Monthly projected balance
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Daily operations
Time Remarks Labour
0900 1000 Prepare for opening Full time (Ft) 4, part time (pt) 0
1000 1100 Open at 1000 Ft 4, pt 0
1100 1400 Lunch hour Ft 4, pt 4
1400 1500 Prepare for tea time Ft 4, pt 4
1500 1700 Tea Ft 4, pt 4
1700 2000 Off- office hour Ft 4, pt 0
2000 2100 Cleaning and closing Ft 4, pt 0
2100 0900 Overnight duty Ft 2,pt0
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SWOT Analysis

• Strengths
• Selling take away soups innovative
• Customers can enjoy tasty, healthy and long
  hourly cooked soup in a relatively convenient way
• Seasonal change of menu list can keep abreast of
  the current taste of customers and further
  capture a larger share in the market

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SWOT Analysis

• Weakness
• Selling take away soup and healthy food onlymay
  be difficult to build up customer loyalty
• Fluctuate flow of people in CBD--relatively less
  customers besides lunch time, tea time
• Hot soup maybe less popular in summer

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SWOT Analysis

• Opportunities
• People are becoming health conscious
• The working pace is fast in Central ? convenience
  is the key
• Innovative soup and cold soup can be a new trend
  in HK

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SWOT Analysis

• Threats
• New entrance
• Competitions with the existing food services

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Anticipated problems solutions

• Hygiene Issue ? tidy packing, clean everyday
• Image ? promotions, corporate identity
• Customer loyalty ?discounts
• Current trend and taste of our customers ?
  continues marketing researches

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Prospect

• Image building ? popularity
• Branches
• Chaining stores in CBDs

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Personal feeling and learning

• Anna Ng, Wai Na
• A simple business is a complicated business
• Many practical consideration and problems
• Starting a business need to plan from different
  perspectives
• Analysis the environmental factors and having a
  appropriate business ideology are vital
• Learning from planning and discussing

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Personal feeling and learning

• Cheung Chun Kit
• Difficult, but interesting
• During the discussion, there will be some
  quarrels. We learn to solve the problem through
  rational discussion.
• The process of building up a business is much
  more complicated than imagination.

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Personal feeling and learning

• Ng Tsz Lok Gary
• Starting a business is challenging, but
  interesting
• Its a valuable experience to combine different
  opinions together
• Personally, I prefer simple and I believe in
  simple business

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Personal feeling and learning

• Richard Cheng
• Starting business always depends on budget
• We could think big but reality dictates after all
• Business styles of partners are crucial

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Q A session

• Thank you