00:00As you can say, there's a lot of interest about the whole concept of social enterprise is still very new in Malaysia.
00:11So we were looking at certain pinpoints as I was explaining to everyone.
00:15So to operate an outlet like this, normally, previously, you require about half a million.
00:22Because you have to pay the franchise fee and then you have to pay for the renovation and capex and then you have to run it yourself.
00:32So the hurdle to starting a business is actually very high in Malaysia.
00:37So we are trying to come up with a social enterprise model where different partners come together and share the risk and also the earning potential.
00:49And that will be able to bring down the cost.
00:53So the capital cost to start something like this is about $150,000, complete from the renovation and so on.
01:03And the reason we can do that is first because it's on musyarakah arrangement where partners come together and agree who does what,
01:13who has the right for what, without incurring the fixed cost of paying for the ideas, for the franchise and so on.
01:24So the other pain point is that it's difficult for, especially for young people, to learn or run business themselves.
01:35So most 27, 25-year-old, the only option available to them is to be in employment.
01:44And employment pun, median salary for fresh graduate is about 2005, in fact lower, is about 2003.
01:52Whereas what the country needs is more and more young people to learn business from scratch.
01:58And the best way to learn business is suran return.
02:02Grocery is the best way because it builds the discipline, kan.
02:05So by doing social enterprise, this group, in this case we have three people coming together.
02:11They become the operation partner.
02:14So they will get a pre-profit salary.
02:19Meaning that they get about $2,000 plus per month, come what may.
02:23But after deducting all the costs and everything, the post-profit, though, they have the biggest share to go to their salary.
02:35And then the third pinpoints in society, prices are expensive.
02:39We have normalized, for example, a cup of coffee as RM15, RM14.
02:44We have normalized it.
02:46So our calculation so far, actually the cost for a cup of Americano is about $3.
02:55So we can sell it at about $4.
02:58The cost of a latte, and this is not pre-mixed, instant, though.
03:02This is barista coffee bean type.
03:04The one that you find, look at all these cafe outlets.
03:09For latte, the cost is about $4 plus.
03:12So if you sell at $5 to $6, compared to you sell at $15, you still make margin.
03:18So likewise, selling cooked food, $5, you still have a margin.
03:24So that's what we are doing now, is trying to challenge how society has normalized finished cooked product at $8, $10, $12.
03:36What about the location?
03:37Tunggu dulu.
03:40I think the queue tu panjang tau.
03:43Orang yang wants to come and work at social enterprise tu buka.
03:47Saya tak rasa kita ada masalah dengan orang yang berminat untuk menyumbangkan modal.
03:52Tapi dia tak boleh buka ikut suka.
03:55So we have to see 2-3 bulan dahulu, check the model, tengok produk mana yang ok, yang tak ok, tengok di jalan.
04:03It's a steep learning curve.
04:04So, kita orang tak tidur lagi for the last 36 hours tau.
04:08So, I realise it's not that easy to run, especially for the first time buka kan.
04:14So, after 2-3 bulan, saya rasa kita akan ada enough data untuk kita fine tune,
04:21then kita boleh mula bergerak kepada lokasi-lokasi lain.
04:24Sebab lokasi paling penting.
04:27So, you have to open it at the right location yang ada captive market.
04:32So, once you dah identify lokasi, saya tak rasa kita ada masalah untuk dapatkan equity partner dan operation partner to come together lah.
04:40So, we'll have to wait 2-3 months.
04:44So, yang duk kacau saya non-stop about how to come in, tunggu dulu.
04:48Kan, kalau tak jadi, nanti jadi scam.
04:51So, I want to make sure, I want to make sure 2-3 bulan pertama tu is proven.
04:56Maksudnya, there is a profit, there is a listing number.
04:59Dia boleh bagi return kepada equity partner.
05:01Dia boleh bagi extra salary kepada operation partner.
05:05Dia boleh bagi
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