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Summary

On Bearhug Channel, the hosts share their experience of a 17-million-baht loss from selling milk tea at Seven Eleven. They discuss the lessons learned, including the importance of proper product knowledge, cost management, and timing. Despite the loss, they maintain a positive outlook, emphasizing learning from mistakes. The video ends with them giving away their remaining milk tea stock and promoting their new product, Sunsu jelly, available in all Seven Eleven branches.

Takeaways

• 📈 The Bearhug Channel hosts share their experience of running a business for the first time, resulting in a significant loss of 17 million Baht.
• 🏪 They recount their venture selling milk tea in Seven Eleven stores, which despite good sales, led to a net loss due to various factors.
• 💡 The hosts emphasize the importance of learning from their mistakes and treating the loss as an educational cost for future endeavors.
• 🔢 A key factor in their loss was a lack of understanding of the costs associated with producing and distributing products through a large retail network like Seven Eleven.
• 🍵 The strictness on taste quality led to higher production costs, which could have been mitigated with a different recipe, but at the expense of pride in their product.
• 🕒 Timing management was another issue, with mismatches between production and demand leading to overstocking or inability to meet demand during peak times.
• 📦 The importance of shelf-life in product distribution is highlighted, as products need to have a long enough shelf-life to reach all stores before expiring.
• 🎨 A design choice of embedding color on the cans resulted in additional losses when the product was discontinued, as the cans could not be repurposed.
• 🎁 The hosts decided to give away the remaining milk tea for free as a way to avoid further waste and to provide a positive experience for their audience.
• 📹 The video includes interactions with customers and staff, showcasing the hosts' connection with their community and their commitment to quality customer service.
• 🚫 Despite the failure with the milk tea in cans, the Bearhug Channel hosts encourage viewers not to be afraid of starting a business but to learn from their experiences and mistakes.

Q & A

What prompted the Bearhug team to start selling milk tea in 7-Eleven stores?

The Bearhug team wanted to try something new and expand their business ventures beyond YouTube, entering the milk tea market by selling their product in 7-Eleven stores.

What was the main financial loss the Bearhug team experienced with their milk tea venture?

The Bearhug team experienced a total financial loss of 17 million Baht from their milk tea venture.

What were the main reasons for the financial loss mentioned by the Bearhug team?

The main reasons for the financial loss were lack of experience in creating a product for 7-Eleven, high production costs, strict adherence to their preferred taste, poor timing management, and issues with shelf-life and product distribution.

How did the Bearhug team manage the taste of their milk tea, and what impact did it have on costs?

San, one of the team members, was very particular about the taste, leading them to use higher-cost ingredients. This adherence to taste increased their production costs significantly.

What lesson did the Bearhug team emphasize regarding product shelf-life and distribution?

The team highlighted the importance of having a product with a longer shelf-life (more than 10 months) to ensure it could be distributed to all 12,000 branches of 7-Eleven without expiring too quickly.

How did the Bearhug team handle their excess production of milk tea cans?

They decided to give away the remaining milk tea cans for free to avoid further costs associated with discarding the unused products.

What did the Bearhug team say about learning from their experience?

They suggested that their financial loss should be seen as an educational cost and encouraged others to learn from their mistakes rather than repeating them.

What did the Bearhug team do with the remaining milk tea cans?

They decided to distribute the remaining milk tea cans for free to avoid additional costs related to discarding the unsold products.

How did the Bearhug team react to the financial loss?

Despite the financial loss, the Bearhug team maintained a positive attitude, emphasizing the importance of learning from their experience and not being afraid to start new business ventures.

What alternative product does the Bearhug team still sell in 7-Eleven stores?

The Bearhug team continues to sell their Sunsu jelly, a 0-calorie product, in all 7-Eleven branches.

What was the Bearhug team's approach to marketing their remaining milk tea stock?

They decided to give away the remaining stock for free and used the opportunity to promote the product, encouraging people to try it and not let it go to waste.

What did the Bearhug team learn about production and demand management?

They learned that their production didn't align well with the fluctuating demand, resulting in either too much stock or too little to meet customer needs at different times.