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GHOST KITCHENS

COOX - Revolutionising Kitchens

SUMMARY VIDEO

COMPANY DETAILS

Summary

COOX’s is a rising star in Malaysia’s ghost kitchen business segment. Our goal is to seek out and incorporate insightful initiatives that enable F&B brands to capitalise on the immense market potential that is waiting to be captured.
 
COOX puts innovation to work in a holistic culinary ecosystem where brands of all sizes have the support they need to succeed. COOX deploys disruptive solutions that help our F&B brands achieve and maintain profitability as they scale their business through our innovative offerings. Our unique approach involves leveraging disruptive technology, diverse expertise and industry network, to identify and implement synergistic best practices that deliver results to our brands in a highly replicable and sustainable manner. COOX provides multi-angled solutions that have proven effective in enhancing business performance for the brands we have the privilege of representing.

While technology undoubtedly plays a crucial role in this process, we understand that it is equally important to provide other solutions that are tailored to the ongoing challenges faced by F&B brands. In line with this, COOX is committed to staying at the cutting-edge, promoting business practices and providing multi-angled solutions that have proven effective in enhancing business performance for the brands we have the privilege of representing.

We are honored to invite you to participate in COOX’s inaugural Seed Fundraising round. COOX is raising up to RM10,000,000.00 to fund the expansion of business with the opening of up to 10 outlets in Klang Valley. Our proven business model with existing outlets already positively contributing to the bottom line of the company allows investors to see greater returns as we scale operations.

Vision & Mission 
Our Vision

Putting innovation to work in a holistic culinary ecosystem where brands of all sizes have the support to succeed.

Our Mission

Building a global network of culinary resources for the commercial success of the brands we represent by instigating cutting-edge practices for business efficiency.

Industry Outlook

The regional food delivery market in Southeast Asia is estimated to grow from US$5.2 billion in 2019 to US$20 billion by 2025, and the ongoing global pandemic has accelerated this trend. Globally, these multiple factors are anticipated to further contribute to the explosive popularity of cloud/ghost kitchens, which is estimated to grow into a market valued at US$1 trillion by 2030.

With the food delivery market in Malaysia estimated to grow from US$267 million in 2021 to US$410 million by 2024, this is expected to further spur the need for cloud/ghost kitchens domestically, as a solution that is well-suited to helping F&B operators adapt and thrive in the face of ongoing challenges.

Problem

Challenges Faced by the F&B Industry:

There are three main categories of F&B operators that would benefit from a ghost kitchen (i) existing restaurants or brands, (ii) new F&B entities and (iii) home businesses looking to expand. However, all of these players face high barriers of entry in the F&B industry which, as we tell our tale, makes ghost kitchens an attractive solution to their woes.

Problem No. 1: High Start Up Cost

The first and most obvious reason is the high start-up costs involved in setting up a brick & mortar store front. To open a new outlet, it could cost owners anywhere between RM150,000 up to RM1 million, depending on the kind of restaurant they’re building.

Problem No. 2: High Running Costs

Once a new F&B is set up, owners have to also worry about food costs, overheads and balancing profit margins. In a post-pandemic world, we’ve seen cost of materials and labour rise astronomically which makes it even harder for F&B operators to turn a profit.

Problem No. 3: Costly Expansion to New Outlets

If an existing F&B operator wants to expand by opening a new outlet, it is unavoidable that they would face high start-up cost of starting a new physical location (as described in Problem No. 1 above).

Problem No. 4: Keeping up with Technology

The change in consumer behaviour because of the pandemic is here to stay whereby food delivery business will continue to be a main stay for F&B operators. F&B operators may face challenges adapting to the necessary technologies to keep up with the changing times and might not be aware of the additional costs they carry.

Solution 

Disrupting the F&B Industry

Solution No. 1: Low Entry Cost

With COOX, F&B operators could commence business with start-up costs of between RM10,000 to RM20,000, which allows even more players to enter the market. To top it off, COOX makes it even better for F&B operators by providing the basic equipment required to start their business and further compliments this with attractive rental rates.

Solution No. 2: Reduced Operating Costs

COOX offers an alternative to F&B operators by keeping labour costs lower because there is no need for front-of-house staff. Teams are kept lean with the space provided and operators can strive for greater efficiency. F&B operators can host multiple brands from the same kitchen using the same staff, which allows expansion without increasing many basic costs.

COOX also allows operators to choose a short term or long term tenancy which gives them the freedom to discontinue if the business fails and in turn, lower the running costs of being stuck with an existing tenancy.

Solution No. 3: Affordable Expansion of New Outlets

COOX’s ghost kitchens have been carefully selected to give optimal reach in locations that have the highest potential based on data of the surrounding community and corresponding spending power. We allow F&B operators to increase their reach by bringing their food to a new neighbourhood with the highest potential for growth.

This is also a more affordable alternative for F&B operators who want to test out new markets and locations. This helps them tackle the uncertainty of having to heavily invest to open a new outlet without knowing the potential of their brand there.

Solution No. 4: Providing Technology Solutions to F&B Operators

COOX has developed its own software platform & native app to assist F&B operators to have their own digital presence online and provide the infrastructure support needed. In addition to this, COOX has integrated with the top food delivery apps to allow F&B operators to have multiple brands and delivery platforms in just one simple device. Merchants can further benefit from our platform by monitoring business performance and operations.

Additionally, COOX has negotiated lower commission rates with third party food delivery platforms and these savings are fully passed on to our merchants. Another factor that sets us apart is we provide a multi-sales angle for our merchants with the availability of dine-in facilities in addition to takeaway and delivery sales.

Business Model 

COOX at its essence is a provider of dedicated kitchen facilities to our customers. F&B operators who are interested in entering the F&B industry at a minimal start-up cost will greatly benefit from our products/services provided. We differentiate ourselves in the market through our disruptive and innovative solutions:

  1. COOX provides customers with their own dedicated kitchen space designed for optimal efficiency and equipped with the essential equipment required to commence operations.
  2. Each COOX outlet’s location is chosen based on data-driven research and is strategically located to give our customers optimal reach for their business.
  3. Our customers will also benefit from the COOX central management system that has been integrated with the top food delivery platforms and COOX’s own native app which allows customers to have their own online presence at minimal cost.
  4. To create a holistic solution for our customers, COOX offers all the benefits above at competitive rental rates to F&B operators.
  5. For COOX’s future outlets, we have an ambition to build a fully autonomous kitchen by 2025 by using robots for food assembly as well as 3D food printers to significantly improve efficiency. Additionally, we are working with robotic and drone partners to prototype drone and robot deliveries around our outlets.

Growth Plan

The main purpose of our fund-raising exercise is to finance COOX’s growth strategy to first expand to 10 outlets in the Klang Valley and subsequently 20 outlets nationwide.

COOX’s long term growth strategy is to expand the business into the capital cities of other South-East Asian countries (i.e. Jakarta, Bangkok, Singapore, etc.) and eventually the rest of Asia’s top capital cities.

Product

COOX pride itself in providing offerings and solutions that come together to provide F&B brands a competitive edge in entering this market and allow them to scale their business efficiently.

  1. A fully equipped kitchen
  2. Well sized dedicated kitchens
  3. At great locations with captive clientele
  4. A central order management system & dashboard via the COOX app
  5. Extremely competitive prices

COOX allows our merchants to manage kitchens more efficiently and enable brands to scale with minimal cost and effort more efficiently.

Traction 

COOX opened its flagship outlet in TTDI in May 2021 and is now at approximately 65% occupancy and is in-line to achieve full occupancy over the next few months with 26 kitchens having more than 50 brands.

COOX is proud to announce the opening of our second outlet in April 2022 at Taylor’s Lakeside Campus, Subang where we will feature 16 bespoke kitchens to bring more F&B brands to the surrounding community and the 11,000 captive student market within the campus. This outlet has been well received by F&B operators and COOX has received immense interest enough to fill up the outlet before the opening.

Customers

Today in COOX, we are serving a variety of customers from new F&B start-ups, existing F&B brands and globally established F&B brands. Some of our brands include:

Competition 

Team 

Funding 

Press

1. The Star:

https://www.thestar.com.my/metro/metro-news/2022/01/28/new-cloud-kitchen-opens-in-ttdi

2. The Edge:

https://www.theedgemarkets.com/article/coox-launches-flagship-cloud-kitchen-glo-damansara

3. New Straits Times:

https://www.nst.com.my/property/2022/02/770379/retailers-are-concerned-about-fourth-wave-pandemic-and-rising-living-costs

4. KL Foodie:

https://klfoodie.com/coox-cloud-kitchen-syed-saddiq/

5. World of Buzz:

https://worldofbuzz.com/coox-is-syed-saddiqs-latest-solution-to-struggling-fb-businesses-during-mco/

6. Eat Drink KL:

https://www.eatdrinkkl.com/posts/featured/edkl-interview-five-founding-partners-including-malaysian-mp-syed-saddiq-empower-new-restaurateurs-at-coox

7. The Vibes:

https://www.thevibes.com/articles/business/19593/coox-and-cooks-look-like-a-recipe-for-success

8. Business Today:

https://www.businesstoday.com.my/2021/06/15/coox-partners-with-grab-to-support-fb-operators-brace-through-challenging-times/

9. KLSE Screener:

https://www.klsescreener.com/v2/news/view/943529/coox-launches-flagship-cloud-kitchen-in-glo-damansara

10. Eat Drink KL:

https://www.eatdrinkkl.com/posts/featured/edkl-interview-five-founding-partners-including-malaysian-mp-syed-saddiq-empower-new-restaurateurs-at-coox?fbclid=IwAR3DfoJo8I0oMTdx63qZ4VMUePEmwpQmUypBUEITZz6sqq2IOGBMA6w7OHg

11. Business Today:

https://www.businesstoday.com.my/2021/06/15/coox-partners-with-grab-to-support-fb-operators-brace-through-challenging-times/

12. China Press:

https://www.chinapress.com.my/20210305/%E8%B5%9B%E6%B2%99%E8%BF%AA%E8%AE%BE%E4%BA%91%E7%AB%AF%E5%8E%A8%E6%88%BF-%E5%8A%A9%E9%A4%90%E9%A5%AE%E4%B8%9A%E8%80%85%E5%AF%BB%E5%87%BA%E8%B7%AF/

13. The Vibes:

https://www.thevibes.com/articles/business/19593/coox-and-cooks-look-like-a-recipe-for-success

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