why e-commerce is very happening in Indonesia? because the Indonesian people love shopping. What about the food? everyone love eats, what are the prospects f & b commerce business in Indonesia? #StartUpReview This time, it would provide little bit information to you, why F & B e-commerce in Indonesia will be the next big things.
Startup has become one of the hottest keyword, especially in Indonesia. Nowadays, there are variation of business models. Startup based on technology, and also conventional become startup technology.
Dewina was curious about one of them, Berrykitchen. One of the online catering service startup. It consists of four founders, one of them is a woman, Cynthia Tenggara. Cynthia started Berrykitchen in 2012, and showed a profitable in the early years. What an amazing startup!
Beginning from a profitable startup, Cynthia was not really ambitious. By the time after two years, the business has been invested by one of the VC’s east venture startup technology, Cynthia realized that she had to focused on her business road map. From the profitable goal to focused on growth. Cynthia was confused, but by the time she learned with her friends that focused on growth is the key to win the market. And she said began her business with profit. So if she can focused on growth and winning the market, it is not impossible to produce profit again.
Cynthia is a humble person, enjoy her business and now got the series A from sovereign capital, she keep growing her business measurably and not too much. Her employees are around 120 people, Cynthia said she doesn’t want Berrykitchen is like another fancy startup after got the funding from investor.
Berrykitchen serves 1500 paxx/day, and in 2016 it will serve 5000 paxx for each day. It has two new places in Jakarta. It is not an ambitious number, because they are still fixing their technology. Previously, the website was only a place to promote their product, but now she realized that website can also become a platform with operational function, marketing, and making CRM more smooth. Proven by the website renovation where will be launced end of this year. For the roadmap technology, Berrykitchen has responsive mobile website and apps, and also will hire a CTO.
In 2016, Berrykitchen will more aggressive from marketing and business expansion. From the marketing, Cynthia realized that online marketing is more effective for the business, because driving user in online ecosystem much easier and measurable than having offline. So she assures for budget marketing will be dominated by digital placement. For business plan expansion, Dewina asked is it possible to pivot model business become F&B Marketplace? Then Cynthia answered, “ that’s a good idea. But now it doesn’t match to Berrykitchen. Indonesia logistic has many more problems, and Berrykitchen is a food business, so quality & time will be a fatal mistake if it can’t be a well-accomodated”. Cynthia said logistic business is complicated, therefore Berrykitchen started with production and has their own logistic. Besides quality control is better, start from one point and send it to a thousand points much easier and measurable even it has a higher risk. But compared to a company who only provide logistic service without having production, it hasn’t an easy thing, and too much effort.
Looking from business expansion, for now there are only two choices, to open branches in another cities in Indonesia, or in South East Asia’s capital cities. This is a surprising thing, Indonesia’s startup became much brave to play around SEA. They don’t want only to be a king in their own country. If Dewina see the trends, they will keep growing like that. The choice is Indonesia startup will be expanded to neighbour countries, or the outside will expand to Indonesia.
Cynthia said Berrykitchen has a plan to get series B, then Dewina asked if Dewina is an investor and ask a question, how much the company valuation now? Cynthia said directly about revenue total for the latest year, multiplied by 6. Then Dewina asked, why 6? Actually maybe it could be more, but depends on the founder see the opportunities. In Indonesia, internet consumption is very small. So maybe 6 was still small, depends on founder see the opportunities.
Last, Cynthia gave advice to every founder who want to build startup, especially for women. Just be persistence! Because commitment and consistency are the most important to be a startup founder. Women, you must throw away that -you can’t be a leader- mindset. Women has a unique version, because they think with different perspective, using their feelings, but not too much, she said while laughing.
Dewina believes that Berrykitchen will be one of the best online catering service startup in Indonesia, if what Cynthia said could be implemented very well. Dewina is curious about the Berrykitchen’s surprising in 2016, will series B be happened? And who is the next CTO? Maybe there is an investor who read this article, or you are a ‘high-quality’ technologist and interest to join startup companyas CTO? Please have an approach to Cynthia.
Just FYI, online catering service besides berrykitchen in Indonesia there are some who Dewina know Like GouryGourmet, Kulina, BlackGarlic and etc. things that make this becomes interesting is who will be the No. 1 player? and the F & B commerce will be the trend in the next year? Let see!