BFM 89.9
The Business Station
Inside Scoop’s 11 Year Journey, Financial Mindset, And The Farm Fresh Quantum Leap
35 mins
·
10:00, 16 Jan 2024
·
Recommended
1 hr 5 mins
44 mins
40 mins
Guest: Edmund Tan, Co-Founder and Managing Director, The Inside Scoop
In this episode of Open for Business, you will learn about Inside Scoop’s inception 11 years ago and the journey this venture has taken, what Farm Fresh brings to the table, and the Inside Scoop on this business’s potential quantum leap ahead with Edmund Tan, Co-Founder of Inside Scoop.
Founded in 2013, Inside Scoop has evolved into a household name with over 40 outlets across the country. Last year, the company hit a significant milestone after Malaysia's largest homegrown dairy company Farm Fresh acquired a 65% stake in Inside Scoop for around RM84 million. Farm Fresh taking a bit into Inside Scoop marks a new chapter in this homegrown ice cream maker's journey.
The discussion delves into the early days of starting Inside Scoop and why the founders left lucrative careers in finance, the creation and development of the brand, and the aim to expand into the Consumer Packaged Goods (CPG) market with Farm Fresh now in their corner. Edmund also gets into their strategy to maintain brand authenticity, the challenges of venturing into a highly competitive market, the importance of customer experience, and the future plans for location expansion and product innovation.
01:39 The Founders' Motivation and Initial Challenges
02:10 The Birth of Inside Scoop
02:41 The Transition from Corporate to Entrepreneurship
03:19 The Importance of Financial Planning
10:00 The Role of Personal and Professional Growth
13:40 The Art of Ice Cream Making
16:06 Understanding Customer Preferences
17:02 Brand Development and Strategy
17:35 The Importance of Customer Experience in Building a Brand
18:07 Recognizing Malaysia's Manufacturing Industry
18:54 The Journey of Building and Growing a Brand
20:10 Key Marketing Strategies and Customer Acquisition
20:21 The Impact of Free Ice Cream
20:55 The Success of the Ramadan Ice Cream Buffet
21:50 Building a Relationship with a Niche Audience
23:02 Growth Expectations and Future Plans
23:55 The Acquisition by Farm Fresh and Revenue Growth
25:35 The Profitability of the Venture
29:34 The Relationship with Farm Fresh and Future Growth
31:57 The Next Stage: Consumer Packaged Goods
33:00 The Long-Term Involvement of the Founders
Presenter: Roshan Kanesan
Producer: Roshan Kanesan
ofbbb2023brand strategiesCPGmalaysian brandsmade in malaysiabrand developmentacquisitionsm&aconsumer packaged goodsbusiness expansionlocal brandfood industryf&bfarm freshinside scoop
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Inside Scoop’s 11 Year Journey, Financial Mindset, And The Farm Fresh Quantum Leap
35 mins
·
10:00, 16 Jan 2024
Guest: Edmund Tan, Co-Founder and Managing Director, The Inside Scoop
In this episode of Open for Business, you will learn about Inside Scoop’s inception 11 years ago and the journey this venture has taken, what Farm Fresh brings to the table, and the Inside Scoop on this business’s potential quantum leap ahead with Edmund Tan, Co-Founder of Inside Scoop.
Founded in 2013, Inside Scoop has evolved into a household name with over 40 outlets across the country. Last year, the company hit a significant milestone after Malaysia's largest homegrown dairy company Farm Fresh acquired a 65% stake in Inside Scoop for around RM84 million. Farm Fresh taking a bit into Inside Scoop marks a new chapter in this homegrown ice cream maker's journey.
The discussion delves into the early days of starting Inside Scoop and why the founders left lucrative careers in finance, the creation and development of the brand, and the aim to expand into the Consumer Packaged Goods (CPG) market with Farm Fresh now in their corner. Edmund also gets into their strategy to maintain brand authenticity, the challenges of venturing into a highly competitive market, the importance of customer experience, and the future plans for location expansion and product innovation.
01:39 The Founders' Motivation and Initial Challenges
02:10 The Birth of Inside Scoop
02:41 The Transition from Corporate to Entrepreneurship
03:19 The Importance of Financial Planning
10:00 The Role of Personal and Professional Growth
13:40 The Art of Ice Cream Making
16:06 Understanding Customer Preferences
17:02 Brand Development and Strategy
17:35 The Importance of Customer Experience in Building a Brand
18:07 Recognizing Malaysia's Manufacturing Industry
18:54 The Journey of Building and Growing a Brand
20:10 Key Marketing Strategies and Customer Acquisition
20:21 The Impact of Free Ice Cream
20:55 The Success of the Ramadan Ice Cream Buffet
21:50 Building a Relationship with a Niche Audience
23:02 Growth Expectations and Future Plans
23:55 The Acquisition by Farm Fresh and Revenue Growth
25:35 The Profitability of the Venture
29:34 The Relationship with Farm Fresh and Future Growth
31:57 The Next Stage: Consumer Packaged Goods
33:00 The Long-Term Involvement of the Founders
Presenter: Roshan Kanesan
Producer: Roshan Kanesan
ofbbb2023brand strategiesCPGmalaysian brandsmade in malaysiabrand developmentacquisitionsm&aconsumer packaged goodsbusiness expansionlocal brandfood industryf&bfarm freshinside scoop
Share:
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