Hot Squid - Market Analysis
Squid is considers as cheap seafood product in Taiwan, Japan, China, and South Korea. And it could be produce to many types of delicious foods. However, most Malaysians’ perception is, seafood products which included squid are used to be expensive. And we could only enjoy the good quality seafood products at reasonable price in oversea. Thus, this has created a huge potential market for our Hot Squid products in Malaysia. Currently, there is no similar squid products are selling in Malaysia.
Many of Malaysian tourists are willing to queue up in their Taiwan Franchise outlets for more than an hour just to buy the Hot Squid products. Sometime the outlet has to open a specific queue line just for Malaysian tourists. The demand for Hot Squid products goes even higher after the products were introduced in few Taiwanese famous TV programs that broadcasted in Malaysia.
The squids that we going to used are fully imported from Taiwan. The raw squid will be cleaned in Taiwan before packing. Therefore no further process is required to be done in outlet or restaurant. To keep the freshness, the squid will be kept under -80 Celsius frozen condition during transportation to Malaysia. The squid is fully complied with Taiwanese Government Food and Safety standards before export to Malaysia.
Hot Squid - Consumer Analysis
Squid products are suitable to and commonly accepted by most of the consumers in Malaysia. As such, the products are not limited to any categories of consumer.
We will combine Hot Squid products together with Soda Drinks as our main selling products. At present, there are 36 flavors available for Hot Squid products. In future franchisor Taiwan and Malaysia R&D centers will constantly come up with new flavor for the products quarterly to enhance the product life circle.
Our products can be a portioned as snacks or full meals, hence maximising an outlet's business opportunities. All items are affordably priced and freshly prepared with finest ingredients.
Hot Squid - Price Strategy
Our main raw material is 200-300g deep sea giant squid.
Although fresh seafood ingredients in Malaysia are generally expensive, but we will control our material costs within 40% to 50% of selling price.
As such, we could make not less than 50% profit for each squid we sold. Each Hot Squid products are priced at RM 8.50 – RM 8.90 each. With this price we believe it could attract lots of consumers,If to sell together with Soda Drinks, and profit will be 60%.
At present, the Soda drinks are very popular in Taiwan, Japan and Hong Kong. It could easily match with any food including our Hot Squid products.