“Soup for Soul”

1. “Soup for Soul” Providing different kinds of fresh and healthy soup with healthy food

2. Group 25 • Group members: • Anna Ng, Wai Na (2001036109) • Cheung Chun Kit (2001441201) • Ng Tsz Lok Gary (2001048047) • Cheng Wai Yeung Richard (2001047172)

3. 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

4. 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

5. Introduction • Starting a business—”Soup for Soul” • Supplying of a variety of healthy soup and other healthy food in a convenient way

6. 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

7. 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”

8. News

9. News

10. 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

11. 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”

12. Research methodology Primary data • Searching in the internet Secondary data • Questionnaires • By conducting telephone interviews and survey in the internet • Sample target: Our target customers—working population, aged range from 18-65 • Sample size: 100

13. Research result • 78% like drinking soup • 22 % do not like drinking soup

14. 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%)

15. 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%)

16. 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%)

17. 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%)

18. 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

19. Factors to be considered to buy take away soup • Price—Reasonable, no huge difference between the price of ingredient and cost • Kinds of soup –A variety kinds to be chosen • Taste—Delicious • Convenient level—High and immediately available • Functions of soup—stay beautiful and young, improve mental state, beneficial to health, improve sexual ability etc. • Nutrition level—High • Ingredient—Healthy, no MSG

20. 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

21. Restaurants specialize in selling soup in Hong Kong 1. Ah Yee Leng Tong阿二靚湯 • Location: Quarry Bay, Mong Kok, Causeway Bay, Shau Kei Wan 2. Tai Woo Soup Restaurant太湖靚湯小館 • Location: Shau Kei Wan 3. Ah Tai Rest阿大靚湯飯店 • Location: Tsim Sha Tsui 4. Han Nya Tou Robatayaki般若湯 • Location: Quarry Bay

22. 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

23. Soup delivery services Day Day Soup 日日老火靚湯 Ah Suet Lan Tong 阿 雪 靚 湯 Smart Soup Workshop 靚湯工房 Soupdaily 靚湯日報

24. 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

25. 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 soup”—A restaurant in CBD providing different kinds of long-hourly cooked and healthy soup

26. 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

27. Characteristics and Uniqueness • We emphasis on our product—different 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

28. 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

29. 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

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

31. 5Ps Strategy 5Ps : • Product, Price, Place, Promotion, Position

32. Position • Primarily: Middle class, bourgeois (soups of $10 - 30) • Also: Up market (for lavish soups ~$50)

33. Place: Address • 32, Wellington Street, Central, Hong Kong

35. Place • Reason of the choice • Branch of the Queen’s 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

36. 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!!!

37. Place: Location

38. Place: Internal Design

39. Place: Our store

40. 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

41. Product: Menu list

42. Product: Menu list

43. 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

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

45. Logo and Package • Use the name of our shop to create the Chinese word ‘soup 湯’

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

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

48. Application for licenses • “Business Registration” from Inland Revenue Department • “Food Factory License” from Food and Environmental Hygiene Department • “Environmental Permit” from Environmental Protection Department

49. 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

50. Staff structure