Bangkok: The story of Suranam Panichkan is one of innovation and determination, as he transformed Tofusan from a simple idea into a nationally recognized brand. For over 14 years, Tofusan has grown from Suranam's desire to make soy milk more accessible for his father into a household name in Thailand, boasting annual sales exceeding a billion baht.
According to Thai News Agency, Suranam's journey began after he returned to Thailand from studying in Australia on a government scholarship. Initially involved in making Thai desserts, Suranam sought a new venture, prompted by the inconvenience of sourcing soy milk daily. This led to his realization that soy milk was not readily available in convenient, ready-to-drink bottles. His curiosity set the stage for months of experimentation, ultimately leading to the creation of a soy milk product innovatively mixed with tofu skin, free of oil and preservatives. This product won the National Innovation Award in its inaugural year.
Despite starting with just 500,000 baht, Suranam leveraged his knowledge of science and marketing to compete with larger industry players. He meticulously studied each aspect of soy milk production and expanded Tofusan's offerings to include unique flavors like red bean green tea and banana milk made from dried banana syrup. Suranam highlighted the flexibility of SMEs in tackling challenging tasks, which has been pivotal in differentiating Tofusan from other brands.
The success of Tofusan is attributed to its 'continuous improvement' strategy. Suranam warns that stagnation is the downfall of small businesses and advocates for a corporate culture focused on daily incremental progress across all departments. He believes that these small, consistent changes are crucial to thriving in a competitive market.
When facing challenges, Suranam humorously suggests drinking lots of water and ensuring adequate rest. This routine, he explains, helps him maintain mindfulness and make clearer decisions, allowing him to tackle problems with a refreshed perspective.
Looking ahead, Suranam envisions Tofusan as a source of national pride, aiming to produce quality products that resonate with Thailand's rich culinary culture without causing harm. From an initial investment of 500,000 baht to annual revenues surpassing 1.2 billion baht, Tofusan is a testament to the power of innovation, persistence, and vision, serving as an inspiration to Thai SMEs.