[Feature image: SMU Accountancy student Daniel Soh (left) with his co-founder Adrian Yeo]
By the SMU School of Accountancy Social Media Team
Developing a unique product and addressing a market gap are fundamental elements of launching a new business. However, growing a start-up requires more than just these foundational aspects.
Noticing a gap in the personal wellness market and fuelled by a desire to make wellness products affordable, SMU Accountancy student Daniel Soh co-founded Feel Fresh in September 2023. The start-up has since gained traction, and was recently accepted into the Business Innovations Generator (BIG) Incubation Programme by SMU Institute of Innovation and Entrepreneurship earlier this year.
We speak to Daniel on his journey of balancing his studies with growing the start-up, as well as his future plans for the business
Can you share with us more about Feel Fresh and its origins?
During the Covid-19 pandemic, my co-founder and I received some payouts from the government’s stimulus package, which we saw as an opportunity to delve into innovation and entrepreneurship. We considered different entrepreneurial ventures, and after numerous brainstorming sessions driven by our shared passion for making a meaningful impact, Feel Fresh was created!
At the heart of Feel Fresh lies a simple, yet powerful, belief: everyone should have access to premium personal wellness products to feel their best. Inspired by this belief, my co-founder and I envisioned a platform dedicated to providing high-quality wellness products at more affordable prices.
Additionally, we identified a gap in the market in the after-sales customer care, an area where big brands often fall short. This observation led us to adopt a customer-centric approach, prioritising not only the provision of the best products, but also excellent services to meet our customers’ needs.
After successfully launching Feel Fresh, how did you go about growing your business and attracting funding for the start-up?
The early stages of launching Feel Fresh was sustained by the Covid-19 stimulus support we had received and supplemented by our personal savings. As the business quickly gained traction and we grew confident in our venture, we allocated more of our own resources to expand the business.
Monthly updates with the BIG team where the Feel Fresh team gain valuable insights and advice
Eager to further scale our operations, we sought assistance from SMU and IIE. They steered us towards the BIG Incubation Programme, which proved instrumental in our growth.
The Feel Fresh team conducted their first product shoot at different spots of the SMU campus, doing everything on their own in the initial stages of the business
Not only did the programme provide us with access to funding via grants, but it also connected us with leading industry mentors. These mentors have offered invaluable guidance and advice on various aspects of our business, ranging from marketing strategies to scaling operations overseas.
Feel Fresh was registered as a business in September 2023, and you are graduating in July 2024. Can you share some advice on how to balance the demands of your academics, student life and your business, so close to graduation?
Balancing academics, student life, and running a business has been a journey of consistency and prioritisation for me. I firmly believe in the power of compounding and consistent effort, so I make sure to allocate time every day to each aspect of my life, knowing that these efforts will accumulate over time. Through maintaining this discipline, I’ve found that my efforts have ultimately contributed to my success.
Daniel (2nd from right, pictured with his housemates) was on exchange from September to December 2023 while co-running Feel Fresh from abroad
Moreover, I am incredibly fortunate to have a strong support system consisting of friends, family, and my partner throughout my entrepreneurial journey. My co-founder, in particular, has been exceptionally accommodating, readily stepping in to shoulder more of the workload during busy academic periods.
Their support and understanding have been invaluable in helping me navigate the demands of academics and the business simultaneously.
Six months on, what are the milestones that Feel Fresh has achieved? Where do you hope to go from here?
Since the start of 2024, our business revenue has grown by approximately five times! This remarkable growth is not only a result of our continued marketing efforts, but also of our strategic decision to expand into new markets regionally.
As the year progresses, we are committed to sustaining this momentum by doubling down on our marketing initiatives and introducing new products. Collaborations with influencers and other brands are also on the horizon, providing exciting opportunities for further growth and increased sales!
Beyond our commercial endeavours, Feel Fresh remains committed to giving back to the community. In gratitude for SMU’s unwavering support, we had the privilege of sponsoring SMU’s Bondue and Oikos Welfare drives this year.
We are also in the planning stages of a community service programme with a grassroots organisation to promote oral hygiene practices among young children. By combining our business growth with meaningful community engagement, we hope to continue making a positive impact and fostering a culture of wellness and care.
Inspired to build a start-up while studying at SMU? Take the first step by accepting your offer by 24 May 2024.
