Han, Grace Su Yin
(2022)
A business plan for Hutong, the first ever baijiu-themed cocktail bar in Malaysia.
[Dissertation (University of Nottingham only)]
Abstract
Will you be surprised if I tell you Baijiu is the world’s most consumed spirit in the world and the world’s most valuable spirit brands?
According to Brand Finance (2021), Baijiu has swept all top-5 spots in the list of the world’s most valuable spirit brands 2021, ahead of well-known spirits like whisky, vodka, gin, tequila and rum. Yet, despite billion liters of baijiu produced in China annually, less than 1% is exported and this explains why this spirit is not widespread outside of China. Another reason of its unpopularity is due to the acquired fiery taste and distinct smell.
We located a few booming cocktail bars in China, Hong Kong and US incorporating baijiu in their drinks, however there are no bars in Malaysia dedicated to this funkiest-tasting liquor yet.
Introducing you, Hutong, the first ever baijiu-themed cocktail bar in Malaysia, offering you to taste the best-selling spirit in the world which you might not have tried. Customers will get the opportunity to expose, taste and learn about Baijiu, the culture and history. If you are adventurous, you can try the spirits straight out of the bottle, otherwise you can always opt for delicious baijiu-based cocktails and signature food pairing that we guarantee will elevate the entire drink and dine experience.
Hutong is planned to get off the ground when Covid-19 situations improve - economy is fully open and society is back to “normal”, riding on the wave of post-Covid spending boom. We believe that the unique concept will be a new attraction to Malaysians as well as visitors from the world. This will contribute to the nighttime economy and tourism industry in Malaysia.
The first bar will be located in Chinatown, bustling area in the heart of Kuala Lumpur, frequented by locals and tourist due to good food and Instagrammable booming new cafes and bars. Then, the plan is to expand to different states in Malaysia. The bar’s design and furnishings will give you a taste of China, but most importantly a cozy and relaxing ambience, coupled with attentive service staff for a perfect night out. Besides on-premise consumption, Hutong will be offering delivery service and supplying cocktails to Chinese-themed restaurants and special events. When there’s solid customer base, Hutong will venture into subscription-based baijiu delivery and even become a distributor of Chinese Spirit in the long term.
For each bar, Hutong is expected to make profit from year 3 onwards due to sizeable capital investment required to create a good ambience for the patrons. However, the cash flow projected is strong and the financial ratios are healthy.
Hutong’s vision is far from getting customers to imbibe, but more to educate people about culture and heritage of one of the earliest and enigmatic spirit on earth. There will be a lot of challenges entering this unchartered territory and setting new trend, but with sound business plan, calculated risks and genuine passion, it’s going to open door for an exciting, fulfilling and rewarding journey.
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