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May 12, 2017

Sweet success for aspiring businessman Featured

Sweet success for aspiring businessman

Thunyaphat was determined to create local products from natural honey, but despite his business education, he was short of practical experience in running a business and lacked the confidence to get started.

Thunyaphat Tangthanyawong holds a bachelor’s and master’s degree in business administration from University of the Thai Chamber of Commerce and Mahanakorn University of Technology respectively. Following graduation, he took a very typical managerial route for Thai university graduates, working for 10 years in the sales and retail sector, with a focus on household products and groceries. He became passionate about natural products, in line with the growing trend of organic products supporting a healthy lifestyle. 

There is an emerging trend in the popularity of natural products in Thailand, as in other countries. Honey can be substituted for sugar and is available in abundance across Thailand. However many natural products in Thailand are not marketed to their full potential, for example in their presentation or with a lack of consideration of appropriate size for a souvenir.

Thunyaphat also did not have this type of practical marketing knowhow; furthermore, he was unaware of the channels available to promote the product. He realized that he needed some support and guidance, yet he could not find training opportunities available to him. He was then invited to attend the New Entrepreneurs Creation project in 2016. During the training, he learned the essentials of starting a business, including how to formulate a business plan and effectively market his product. The program improved his business knowledge and gave him the confidence to start production and to launch his own honey product to serve the market. Following the training, he prepared a business plan in order to effectively bring his product to market. Consumer considerations were taken into account, such as confirming its 100% authenticity and including a honeycomb inside every bottle to support its legitimacy and to add to the beautiful packaging design. His business has successfully developed the “Honey Home” brand and his products are now available at Central Embassy, Central Chidlom and Yodpiman River Walk.

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