For Aizuddin, the co-founder and managing director of Kay’s Steak & Lobster (Kay’s), changing into an F&B entrepreneur was a deceptively easy resolution.
With a background within the banking and finance business, he didn’t have any grand inspirations or motivations to begin the enterprise.
“The principle driving drive was my need to flee the every day grind of commuting by site visitors jams,” he admitted candidly.
Dwelling in Putra Heights and dealing in KL, he discovered the every day commute to be a serious trouble. So, in 2014, he determined to open a restaurant near dwelling in order to not take care of site visitors.
However why a restaurant?
“Nicely, my first thought was, how arduous can it’s to run a restaurant?” Aizuddin replied. “You simply prepare dinner, serve, and acquire money from prospects. Everybody must eat no less than 3 times a day, so you’ve three alternatives in a day that prospects will come and purchase from you.”
Little did he understand how arduous it could be to run and maintain a restaurant enterprise. In hindsight, the entrepreneur mentioned he wouldn’t even have thought-about it within the first place had he identified what he is aware of now.
From 2014 to 2017, the enterprise solely managed to interrupt even. Aizuddin started having second ideas, questioning whether or not the hassle the crew put in was even value it.
“I questioned if we must always simply shut it down and return to the company world,” he admitted.
However fortunately, the entrepreneur persevered.
In 2017, Aizuddin renamed his enterprise to Kay’s Steak & Lobster, higher highlighting their core choices. He carried out an intensive assessment of their prices, applied menu engineering methods, and repriced their menu. He additionally renegotiated cost phrases with suppliers, securing credit score phrases starting from seven to 30 days.
“This has offered us with more money stream to allocate in direction of our advertising and marketing initiatives,” he defined.
With amped up advertising and marketing efforts, they have been in a position to improve their model visibility and appeal to a wider viewers, whereas additionally introducing a loyalty programme to retain these prospects.
Thanks to those methods, Aizuddin now celebrates a decade within the F&B business.
“Whereas my journey started out of a easy want for comfort, it’s been a rewarding expertise evolving the restaurant into what it’s at the moment.”
Constructing a wholesome enterprise
From one restaurant in 2014, Kay’s has since expanded to a few retailers in whole.
Whereas the amount of retailers elevated, the crew has additionally been sustaining and even bettering their high quality. Aizuddin shared {that a} main shift within the enterprise has been in direction of establishing standardised working procedures (SOPs) to facilitate their growth.
This method revolves round three key pillars: folks, course of, and expertise.
“Firstly, we prioritised hiring people who not solely possessed the proper expertise for his or her roles but in addition shared our imaginative and prescient and have been dedicated to reaching it alongside us,” he mentioned.
To draw the proper expertise, Aizuddin mentioned they ensure to speak the corporate’s imaginative and prescient and tradition clearly throughout the hiring course of. Different methods embody tapping into private {and professional} networks for high quality referrals.
Promising room for development can also be important. “We positioned our firm as a spot the place workers couldn’t solely use their expertise but in addition study and advance throughout the firm,” he mentioned.
Fostering this development, the corporate provides many upskilling and coaching alternatives.
Given the help that Kay’s provides to its workers, isn’t there a priority that they would depart for greener pastures, or to begin their very own ventures?
“We consider in supporting our workers’ profession aspirations,” Aizuddin mentioned to that. “If a chef decides to pursue entrepreneurship, we encourage and facilitate their journey.”
He added, “Ought to they select to begin their very own enterprise, offered it aligns with our values and laws, we could even contemplate investing of their enterprise to help their development and success.”
Other than expertise attraction and retention, the crew additionally constantly re-evaluates their processes, figuring out areas for enhancement and streamlining.
To help this, the crew has established 4 useful departments essential for enterprise success—HR, Finance, Operations, and Advertising and marketing. Every are led by succesful people with clear goals that align with the corporate’s overarching imaginative and prescient, Aizuddin mentioned.
The co-founder has additionally made vital investments in digital options and instruments. This contains digitising HR capabilities, implementing a reservation and loyalty system, and integrating high-tech kitchen gear to reinforce product supply pace and consistency.
Providing halal assurance
Along with high quality substances, Aizuddin believes Kay’s stands out because of its prioritisation of the halal certification.
“Central to our mission is our aspiration to turn into the foremost halal nice informal eating institution in each area the place we function,” he mentioned. “To understand this aim, we launched into the journey of acquiring halal certification from JAKIM.”
In September 2023, the corporate achieved the milestone of receiving halal certification for all its retailers.
However past simply catering to the wants of Muslim customers, which is almost all of their buyer base, the halal certification course of and its rigorous protocols additionally guarantee meals security and ingredient traceability. This all in all ensures the restaurant upholds strict requirements.
Rising an empire
Aizuddin shared that he had launched Kay’s with a modest capital of lower than RM200,000 again in 2014. The bulk was allotted for organising the preliminary model of Kay’s, overlaying the whole lot from gear to preliminary stock. The remaining funds have been designated for working capital to maintain day-to-day operations.
“This preliminary capital infusion was primarily self-funded, drawn from my private financial savings and contributions from my spouse,” he revealed. He added that his spouse, who’s now the Director of Advertising and marketing and Operations at Kay’s, additionally performs a giant half in protecting day-to-day operations working easily.
Help additionally got here from his mother and father and siblings, who turned shareholders within the firm.
Because the enterprise grew, it relied closely on bootstrapping. Income have been constantly reinvested to gas development and growth.
Within the newest audited monetary statements from 2022, the enterprise was raking in eight-figure income, and wholesome seven-figure income.
It will go in direction of propelling Kay’s development, beginning with strategic growth throughout the Klang Valley in addition to venturing into new territories. Particularly, the crew goals to open two new retailers within the Klang Valley, with one already below development in Elmina and one other deliberate for the KLGCC space in 2025.
As for markets exterior the Klang Valley, they have already got deliberate retailers in Johor Bahru and Penang.
“To help the expansion of those retailers, we’re investing within the institution of a central kitchen,” Aizuddin added. A central kitchen will guarantee constant high quality throughout all areas as they scale.
Moreover, the co-founder can also be exploring alternatives to diversify the corporate’s market presence. This might contain getting into new market segments by acquisitions and even creating new manufacturers.
“Trying in direction of the long run, our imaginative and prescient for Kay’s is to turn into a number one halal multi-brand F&B firm with a powerful presence each domestically and internationally,” he shared his ambitions.
This gained’t be simple, and the co-founder recognises that. It should take sustained development, continued innovation, and strategic growth into new markets, all whereas upholding the model’s core values.
Nevertheless, Aizuddin is assured and decided. “By way of diligent execution of our plans and a concentrate on delivering distinctive experiences, we intention to place Kay’s as a outstanding participant within the F&B business.”
Study extra about Kay’s Steak & Lobster right here.
Learn different articles we’ve written about F&B companies right here.
Featured Picture Credit score: Kay’s Steak & Lobster
