Brief Summary
This podcast episode features an interview with the founder of Crimson Cup, a coffee shop chain in Bangladesh. He shares the story of how Crimson Cup started, their strategies for serving customers, and their approach to building a successful business. Key points include:
- The importance of understanding the local market and adapting strategies accordingly.
- The significance of customer service and employee training in creating a loyal customer base.
- The need to focus on quality and intention rather than just financial gain.
- The value of partnerships and seeking advice from experts.
Intro
The podcast begins with a lighthearted introduction, setting the stage for a discussion about coffee and the Crimson Cup brand.
Crimson Cup এর শুরু
The founder recounts how he and his co-founder, driven by a love for coffee, decided to start a coffee shop in Bangladesh. They chose the franchise model after his co-founder suggested Crimson Cup, a brand he knew from his university days in Ohio. Despite initial rejections from Crimson Cup due to a lack of data, they conducted extensive market research by observing customer behavior at Gloria Jean's, a competitor. This hands-on approach helped them understand the local market and eventually convinced Crimson Cup to grant them the franchise. They also conducted blind taste tests with friends and family, which confirmed their confidence in the quality of Crimson Cup's coffee.
Serving Strategy
Crimson Cup introduced several innovative serving strategies to Bangladesh, including self-service, sugar stations, and writing customers' names on cups. They focused on speed and efficiency, aiming to serve customers within two to two and a half minutes. This required careful choreography behind the counter, with employees trained to make hot and frozen drinks simultaneously.
কফি কি Luxury প্রোডাক্ট?
The discussion shifts to whether coffee is a luxury product in Bangladesh. While traditionally a tea-loving nation, coffee consumption is growing. The founder advocates for reduced taxes on coffee to make it more accessible. He notes that coffee is still treated as a luxury item in terms of import taxes, which increases the price. Despite this, Crimson Cup's consumption is around 2000 kg per month, while the overall industry consumption is more than 100,000 kg.
বিভিন্ন দেশে কফির স্বাদ ভিন্ন কেনো?
The founder explains why coffee tastes different in various countries. He initially imported beans from the US, but the aroma was lost during shipping. Now, they import green beans and roast them locally. As a franchisee, Crimson Cup sources coffee beans from their own farms worldwide. The roasting process and the origin of the beans contribute to the unique taste profiles in different regions.
রিসার্চ থেকে কি পাওয়া গেলো?
The market research conducted at Gloria Jean's revealed that middle-aged men preferred cappuccinos and lattes without sugar, while families focused on food and coffee. Female customers favored pastries and sweet drinks like caramel lattes. Cappuccinos and lattes were popular during the day, with people often enjoying them in the smoking zone.
কফির সাথে No compromise
The founder emphasizes the importance of not compromising on coffee quality. He believes that coffee is like a religion to its enthusiasts, and any compromise would be unacceptable.
কফির দাম
The discussion covers the unit economics of coffee, including the cost of beans, milk, cups, and lids. The industry-acceptable margin is 60%, with the remaining 40% covering expenses. Crimson Cup aims to keep its prices close to the industry average while maintaining a 60% gross margin.
কফি শপের লোকেশন
The founder shares his insights on coffee shop locations. While expensive locations like Banani and Dhanmondi are popular, he questions whether smaller, less expensive locations could also be successful in Bangladesh. He notes that Crimson Cup initially targeted corporate offices and high-end areas but found success in unexpected places like Uttara and Wari.
কোন জায়গায় লাভ বেশি?
The most profitable Crimson Cup branches are Uttara and Wari, which surprised the founder. He explains that brands gain loyalty when they become popular in Dhanmondi and Mirpur. These areas have fewer restaurant options, making it easier to survive.
ক্রিমসন কাপ কাস্টমার এবং কর্মী
Crimson Cup hires young employees from private universities who are eager for new experiences. These employees connect well with customers, fostering brand loyalty. The company also focuses on career progression, with baristas having opportunities to become managers and even general managers.
কাস্টমার সার্ভিস
The founder emphasizes the importance of customer service, noting a significant gap in customer service quality in Bangladesh compared to overseas. Crimson Cup provides regular training to its employees, teaching them to welcome customers warmly, engage in conversation, and address complaints personally.
ট্রেইনিং
Training is crucial for maintaining high customer service standards. Employees are trained to greet customers, offer menu recommendations, and handle complaints effectively.
Incentives
Managers receive incentives based on sales targets, motivating them to provide quality customer service. General managers receive 1% of the company's profits, empowering them to take ownership of their stores.
বাংলাদেশের কফি মার্কেট
Crimson Cup is one of the largest coffee shop chains in Bangladesh in terms of outlets. The founder credits North End for creating the coffee market in Bangladesh, which players like Crimson Cup are now enjoying.
Barista এর গুরুত্ব
Baristas are the face of the coffee shop and play a crucial role in coffee eminence. Their focus and skill in pulling the perfect espresso shot are essential for quality coffee.
কফি শপ দেওয়ার খরচ
The cost of opening a Crimson Cup franchise includes a franchise fee, security deposit, products and equipment, decoration, and marketing expenses. The founder explains that they prefer to keep equity in the store and handle operations themselves, rather than giving out franchises.
ইনভেস্টর
Crimson Cup seeks investors who are willing to learn about the coffee business. They offer investors a majority stake in the store in exchange for their investment.
খরচ Breakdown
A breakdown of the costs involved in opening a coffee shop is provided, including security deposits, equipment, inventory, and decoration. The founder advises focusing on quality decoration and keeping expenses low.
Being Human এর বাংলাদেশে যাত্রা
The founder shares the story of how he brought Being Human, a clothing brand associated with Salman Khan, to Bangladesh. He was impressed by the brand's demand and approached them through a mutual friend.
সালমান খানের সাথে দেখা
The founder recounts meeting Salman Khan at his farmhouse, describing it as one of the greatest days of his life. Salman Khan was impressed by the success of Being Human in Bangladesh.
সাকসেস কীভাবে?
The founder believes that the key to success is having good intentions and focusing on quality rather than just financial gain. He emphasizes the importance of solving a human need and not compromising on quality.
রেস্টুরেন্ট ব্যবসায় কি করা উচিত?
The founder shares his insights on the restaurant business, noting that it is a passion-driven industry with a high failure rate. He advises focusing on a unique selling proposition (USP) and filling a gap in the market.
স্যালারি স্ট্রাকচার
Salary structures should be determined based on industry standards. The founder emphasizes the importance of verifying salary expectations and offering incentives to employees.
Restaurant ব্যবসার Tactics
The founder advises keeping expenses low and minimizing risk in the restaurant business. He suggests partnering with landlords and focusing on overhead costs.
কোনো এক জায়গায় বেশি ফোকাস
The founder shares his rule of thumb: maintain a 60% margin on everything. He advises against losing money on certain items to attract customers, as it can hurt the business in the long run.
পরামর্শ নেওয়া
The founder emphasizes the importance of seeking advice from experts and consultants. He also highlights the value of having co-founders who can provide different perspectives and support.
