00:00:01 · S0, S1, S2, S3, S4, S5
Ad[00:00:01] S0: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini Chrome? That's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks, Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, and availability varies 18 plus. Ad[00:00:26] S1: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed Sponsored Jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs. Ad[00:00:56] S2: Your sausage McMuffin with egg didn't change. Your receipt did. The sausage McMuffin with egg extra value meal includes a hash brown and a small coffee for just $5. Only at McDonald's for a limited time. Ad[00:01:08] S3: Price and participation may vary. Promotion pricing may be lower than meal pricing. Ad[00:01:11] S4: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 Ad[00:01:24] S5: a year can
00:01:24 · S5, S4, S6
Ad[00:01:24] S5: a year can Ad[00:01:24] S4: save you time and over $700. Wanna Wanna get in on a membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Club. Ad[00:01:32] S6: Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus nonmember or club member pricing slash fees excludes membership fees. See Walmart Plus terms and Sam's Club terms for more info.
00:01:42 · Edward Tritanata
[00:01:42] S7: I was kind of failing in school. You'll see me often at Internet cafe playing game. It was really an ordinary life of a slacker. Somehow, miraculously, I got accepted at Northeastern University and even graduate magna cum laude because I had one phone call that changed my whole life. My mom called me to tell me that actually our family is going through a potential bankruptcy. Since then, my attitude to life changed completely. It really brings a lot of fire into my life. I wake up 5.3zero am every day. I'm always at the library or at the gym, but never anywhere else. I told everyone that I want to be bigger than Starbucks. Everyone thought, are you dreaming? Are you high? Right now, we are bigger than Starbucks. In 2020, it was the pandemic. Everyone told me that it's the end of Kopi Kenangan. Throughout COVID, we actually grew by 3x in terms of store count. Nobody can tell you what you can or cannot do. Every day, it comes down to you, your will, your conviction, your hard work, whether you can make something happen or not. Hi, my name is Edward Tritanata. I'm the CEO and co founder of Kopi Kenangan. Kopi Kenangan itself right now commands around 900 stores in two different countries, even though we are only six years old. In total, we have raised around $270,000,000 ranging from Jay Z, Serena Williams, Sequoia Capital, several others reputable investors. Right now, we are selling approximately around 5,500,000 cups per month. Hopefully, in the next two to three years, we will be able to sell even more, not just to Indonesian, but then to Malaysian and beyond. I learned that there is such thing called Starbucks stall latte index. It's actually the price of Starbucks latte compared to your daily income. US is around 2%, whereas in Indonesia is actually more towards like 30%. There is no way everyone in Indonesia is drinking a cup of latte where it consumes close to 30% of your daily wage. Most cafe back then always thought of making a cafe to be large, with very comfortable sofa, with very fast WiFi. A lot of people like myself don't need that comfortable sofa. I just want a good cup of coffee with affordable price. Of course, that means a higher COGS. But I realized if I make the space really small, what is there to think about?
00:03:49 · Edward Tritanata
My hypothesis is that if I shift the rental cost to COGS, I can sell much high quality coffee at a much more affordable price. And that remains to be our business model to be grab and go, to be small. It doesn't need seatings, but we can attract a lot of crowd. We are trying to take customers from online as well. Because back in 2017, online delivery just started. I realized that whether your store is 200 meter square or 20 meter square, it doesn't really matter. In a business that has a big market, you always have a lot of competitor. I realized that we need to be differentiated. We need to look different than our competitor. A lot of people make their cafe to be a western name. But then I realized that, okay, why don't I use Indonesian name so that I sound different? That's why I named it Kopi Kenangan, a memory coffee. That branding actually makes people remember us. I do believe that with the recipe that we have made, with the pricing point that we have decided, we have a chance. First store is 2017. 2018, we try to expand. Because the thing about coffee is that your catchment area is usually typically within two to five kilometer radius of your store. Obviously, Indonesia is very big. If you want to get people in other city, other district, other sub district, obviously you need to open a store there. And when we expand, actually our logic was quite simple. We want to test for scalability, meaning that if I open nearby, the revenue still be good or will it be cannibalizing each other? That's why I intentionally opened this next store, I think within half a kilometer away from the first store. Interestingly, I intentionally picked a location where it already has a bunch of coffee chain near ourselves. For example, in our first store, there is Starbucks, Coffee Bean and Tea Leaf, and a bunch of street side vendors. On our second location, there's also Starbucks and Family Mart. We opened near them, and we were thriving even in the midst of
00:05:42 · S0, S1, S2, S3, S4, S5
Ad[00:05:42] S0: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini and Chrome? That's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks. Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, and availability varies 18 Ad[00:06:07] S1: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs. Ad[00:06:37] S2: Your sausage McMuffin with egg didn't change. Your receipt did. The sausage McMuffin with egg extra value meal includes a hash brown and a small coffee for just $5. Only at McDonald's for a limited time. Ad[00:06:49] S3: Price and participation may vary. Promotion pricing may be lower than meal pricing. Ad[00:06:52] S4: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 Ad[00:07:05] S5: a year could save
00:07:05 · S5, S4, S6
Ad[00:07:05] S5: a year could save Ad[00:07:05] S4: you time and over $700. Wanna get in on the membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Ad[00:07:12] S6: Club. Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus non member or club member pricing slash fees excludes membership fees. See Walmart plus terms and Sam's Club terms for more info.