The story of “streamer prince” Pew Pew (Hoàng Văn Khoa) selling banh mi and raising shrimp has always drawn public interest and curiosity. Gradually abandoning the flashy livestreaming work to return to a laborious life, running a business like ordinary people, he has faced considerable hardships due to Covid-19.
“Worries” Throughout the Pandemic
At the workshop “Reviving Business in the New Normal”, Pew Pew shared that he was already burdened with a “super huge” debt from starting a business, and the Covid-19 pandemic worsened the business situation “a lot”. He had to postpone and then completely halt the opening project of the coffee – banh mi – internet shop complex to cut losses, but cash flow remained heavily negative.
To describe his feelings during the months when Covid-19 was complicated in Vietnam, Pew Pew used the word “worries”: “Like many brothers and sisters in the service and F&B sectors, I was just worried about how to “live” another day, to get through the pandemic because at that time no one could imagine what would happen. When I survived through April, I felt extremely lucky.”
Although he had to find ways to pivot to online sales, along with the rising prices of pork and high rent costs, the Pew Pew banh mi shop did not increase or decrease product prices.
“I don’t increase or decrease prices, because I think that when the business was good, I didn’t share with anyone, I still tried hard to work, so during tough times, I must ensure stable product quality for customers. Because they are also struggling with many things in life, so at least the banh mi is something I can help them feel at ease.”
There’s Still Much to Explore in Banh Mi
Choosing the banh mi business model – a dish that has become too familiar and an icon of Vietnamese cuisine, especially when the market is flooded with brands from famous to small, facing fierce competition is unavoidable.
However, the “streamer prince” born in 1991 has a different perspective: “I don’t think much about competition. When I opened Pew Pew banh mi, many friends asked why I opened a banh mi shop when the market was already established. But my business philosophy, now and in the future, is that I want to sell it, my product must be different from everyone else. Of course, I also have to research the market and invest time and effort.”
“But I have never thought that I have to compete or fight for a piece of the pie with anyone. I, Khoa, spend a lot of time eating banh mi at other places to know the differences and learn. Regarding competition, ultimately, customers have the right to compare, that’s their right, while my job is to do it well.”
For instance, using technology to simplify processes. Having previously worked at the famous fast food chain McDonald’s, Pew Pew noted that the time from pressing the order button to the bread coming out there only takes 5 minutes. Meanwhile, his shop currently still needs over 10 minutes to complete an order. In other words, there’s still much to learn, do, and improve.
During the conversation, the hot streamer mentioned that for each type of banh mi, his team usually spends several months to half a year on research and experimentation. Pew Pew revealed that they are about to launch a new dish called “shrimp banh mi”, which has been conceptualized and researched since March of last year.
“With the effort put into research, the banh mi will never become boring. I myself am not bored with banh mi; it’s not just about having enough items on the menu and stopping when it’s profitable. I believe there are still many things to explore, and that makes customers look forward to it,” Pew Pew said.
Regarding the plan to build a chain, Pew Pew expressed his desire to develop franchise points but remains very cautious as each store opened must ensure quality in terms of people, processes, and products, not just simply putting up a sign saying “Pew Pew Banh Mi” and selling.
“If a store closes, I still receive franchise fees, but that’s a disappointment for customers. That’s why the locations of Pew Pew Banh Mi have not yet expanded,” Pew Pew said.
According to Nhịp Sống Kinh Tế