Expat Women: Business Ideas: Interviews With Entrepreneurs
Olive Kebab and Café
Elena Karoumpi
When Greek expat Elena Karoumpi left her career in the hospitality industry in London and relocated to Bangkok, Thailand in 1997, she loved the city's wide array of international cuisine, but wished the city offered her favorite food – Greek.
Four years later, Elena was so passionate about her idea to introduce Greek food to Bangkok that she resigned her position as conference and business development director for the Economist Group, to start her own business in Bangkok's gourmet industry, serving Greek food.
In 2002, together with her Thai business partner, Siriluck Lim, Elena introduced Olive as a kebab counter at an upscale retail center in the city. Their endeavor proved successful and they later converted Olive into a full-service bistro with an extensive Greek-Mediterranean inspired menu.
Since then, their focus on fresh, home-style, Greek-Mediterranean food and contemporary interior design has found favor with locals and expats alike. Olive can now be found at three retail centers and two stand-alone restaurants around the city. Under the Olive brand, they also operate a supermarket deli corner, and offer home delivery options, plus event catering.
Expat Women's Interview with Elena
Expat Women: Elena, before you moved to Bangkok, had you ever thought of starting your own business – particularly in the gourmet food industry?
Elena: Not at all. I knew the hospitality and service industries were suitable for me, but I never thought that one day I would set up my own food business – not until I came to Bangkok and realized the tremendous business opportunities available.
Bangkok offers a great variety of cuisines but there was no representative for Greek cuisine until Olive opened its doors to the public nine years ago. Olive was set up to fill in the gap and create awareness of a healthy and delicious type of food in a way that was never done before in Bangkok.
Expat Women: How difficult was the transition from employee to entrepreneur/ employer?
Elena: Basically, I had to learn the business through trial and error, but I was determined and I believed in my product. Also, I was prepared to take risks. When you set up a business you are on your own; there is no safety net. You are financially vulnerable and may come across unexpected expenses. You need to either have enough savings or a good support system that will help you "walk through" the tough times. My family supported me a lot during the first challenging years.
Expat Women: What challenges did you face during your business set-up and expansion, and how did you overcome them?
Elena: At first it was difficult to secure suppliers because we were small and unknown. Local banks were not willing to lend us money, so we had to use our own resources. These obstacles became manageable as we expanded and our credibility and name grew stronger.
The toughest challenge, however, was managing people who had a different cultural and educational background than mine. I had to learn to adapt and understand my host country and its people. It took a lot of effort on my side and even today, having overcome so many barriers, I can easily say that managing people is still a challenge. But, I have learned to handle it much better.
Expat Women: What do you think has made your business so successful?
Elena: Consistency in our product and meticulous quality control; efficient and targeted marketing; hardworking and dedicated employees; persistence; positive thinking; and passion! Passion for what we do and a "never give up attitude" were the driving forces behind Olive, even during the hardest of times.
Expat Women: What marketing strategies did you use to promote your business?
Elena: First of all, we chose to locate our business in major retail centers where expats and tourists shop, because we had to make sure that we were situated where our customers could find us easily.
In addition, I joined various international women's groups and this has given me the opportunity to promote Olive directly to my customers through various networking events such as coffee mornings and luncheons. I also advertise in their monthly publications in order to maintain a consistent presence.
We also designed a website and Facebook page in order to promote upcoming events, new menu items and various other offers.
We often participate at outdoor catering events, school fairs and trade shows (such as the YWCA and Red Cross Bazaars), where we have the opportunity to tap into different markets and meet new customers.
Expat Women: What makes your take on Greek food different from traditional food typically found in Greece?
Elena:
The difference is in the approach and use of ingredients. I use homemade recipes inherited from my mother and I often replace certain ingredients with healthier options in order to create simpler and lighter flavors. Greek food has a reputation of being heavy but in reality it is not at all like that. Greece is part of the Mediterranean zone and the benefits of the Mediterranean diet are well known around the world.
Greek cuisine especially represents the Mediterranean diet in its enormous variety of vegetarian, meat and fish dishes, and use of healthy ingredients such as olive oil, garlic, herbs, bread, yogurt and cheese. At Olive, we use all of the above ingredients to create a culinary experience that satisfies your taste buds and makes you feel good about yourself.
Expat Women: What five tips would you offer to women considering starting a business abroad?
Elena:
1.
Read a few good books written by entrepreneurs doing business in the country where you are thinking of starting a business. Even better, talk to a few entrepreneurs who have already established themselves in the country you are about to launch your business.
2.
Do your market research and prepare a business plan well before your business launches. You may find out it is too risky and not worth the effort, or quite the opposite.
3.
Maintain the highest standards in whatever you do and conduct your business with good ethics, honesty, sincerity and respect for your competitors.
4.
Do not be afraid of failure or challenges. Failure is a possibility, so if it comes, accept it with dignity, learn from it and move on. Challenges come and go and they only make you stronger and smarter.
5.
Never give up – persevere with focus and patience.
Expat Women:
What do you love most about living in Thailand, and do you ever see yourself repatriating?
Elena: Thailand is a great country with very friendly people, excellent opportunities and amazing diversity. My business is here and my family is here. My husband is Thai and I have two children, eight and three years old, so I do not plan to repatriate, but I will certainly look for opportunities to operate in other markets outside Thailand in the near future. I believe there are many markets in which Olive could operate very successfully, due to its business model and product quality, through joint partnerships or franchise agreements.
Expat Women:
Elena, we congratulate you on the success of Olive and wish you and your business all the very best in your potential expansion plans!