Rebirth in Hong Kong: From Dessert Shop to Industrial Empire

Chapter 10 Victoria Park Lunar New Year Fair (Please add to your favorites, vote with monthly tickets, and recommend this book)
The newspaper that Uncle Fu was pointing to had the headline: "Cheung Kong Holdings acquires another plot of land in the New Territories for HK$1.2 million."

In the accompanying photo, Li Ka-shing, before donning his signature black-rimmed glasses, stands confidently in front of a construction site.

Upon seeing this news, Chen Bingwen was momentarily disoriented, and memories of Li Ka-shing flashed through his mind like a revolving lantern.

In my memory, this period was a crucial juncture in the rise of Li Ka-shing's real estate empire.

Starting with a plastic flower factory, it bought up properties at rock-bottom prices in the early 1970s and is now coming into HSBC's sights by rebuilding the Chinese Building.

Next year's thrilling takeover battle for Wharf Holdings will ultimately solidify its status as an "agent of HSBC".

Having always viewed Li Ka-shing's rise to wealth as just a story in his previous life, Chen Bingwen now, having experienced it firsthand, instantly saw through its true nature.

In British-controlled Hong Kong, whoever could become the colonial government's commercial representative could obtain monopolistic resources.

The deeper message is that whoever can win the favor of both British capital and mainland China will dominate the future of Hong Kong.

Plastic flowers are no different from his sugar water; they are both stepping stones to the top of the pyramid.

The only difference is the scale and the timing.

"Awen? What are you spacing out for?"

Uncle Fu's voice pulled him back to reality from his memories.

Chen Bingwen blinked, and the newspaper in front of him refocused.

He forced a smile, temporarily suppressing the turbulent thoughts swirling in his mind.

Right now, I'm just a pawn in this grand game. Only by becoming a pawn that has crossed the river can I unlock infinite possibilities.

"Uncle Fu, please get me a copy of the Industrial and Commercial Daily as well."

Chen Bingwen pointed to several other financial newspapers and magazines on the newsstand.

"Three yuan and two jiao."

Fuber deftly pulled out a few newspapers and handed them over.

Back at the shop, Chen Bingwen began to flip through the newspapers one by one, matching the news articles with the information in his memory.

It's about finding potential business opportunities and also about anchoring memories from a past life in this world.

Suddenly, a small advertisement inside the newspaper caught his attention.

"Shops for the 1978 Victoria Park Lunar New Year Market will be open for public recruitment on January 20."

Chen Bingwen's eyes lit up; the Lunar New Year fair on Hong Kong Island was similar to the Lunar New Year market on the mainland.

Every Lunar New Year, Hong Kong people go out to stroll around the streets, which they call "going on New Year's Eve," a Lunar New Year tradition on Hong Kong Island.

However, unlike the temple fairs or New Year markets on the mainland, the products sold at the Lunar New Year fairs on Hong Kong Island are mainly flowers and New Year decorations.

Lunar New Year markets are set up in areas such as Hong Kong Island, Kowloon, and the New Territories, but the Lunar New Year market at Victoria Park on Hong Kong Island is the largest and most popular.

People who stroll through the Lunar New Year market get tired and naturally thirsty and hungry, which creates business opportunities for food vendors.

Lunar New Year food stalls emerged in response to this market demand.

The Lunar New Year market runs from the 24th day of the twelfth lunar month to the 30th day of the twelfth lunar month every year.

Especially on Lunar New Year's Eve, it was open all night and didn't close until 6 a.m. on the first day of the Lunar New Year.

This also resulted in an unprecedented flow of people at the Lunar New Year market.

In a past life, a friend who worked in the catering industry on Hong Kong Island shared his experience with me before immigrating, describing the cooked food stalls at the Victoria Park Lunar New Year Fair as "a business that makes money inconspicuously."

Business was so good it could be described as "earning half a year's profit in seven days." The huge foot traffic, strong consumer demand, and the special atmosphere of the Lunar New Year made it a veritable money-printing machine for the catering industry. After hearing my friend's introduction, if he hadn't already been working in investment banking, I would have definitely participated in the bidding for the food stall at the Victoria Park Lunar New Year Fair.

In just a few days, you can make hundreds of thousands of dollars in net profit. Such a high profit is an opportunity that is almost never seen.

Aside from inflation and rising prices, based on the current price of dessert soup and the estimated customer flow, if you can secure a good location, earning tens of thousands of yuan in seven days shouldn't be a problem.

This is equivalent to one to two months' profit for a dessert shop.

Moreover, the sweet soups and snacks that Chen Ji currently sells are very suitable for sale in the Lunar New Year market.

Chen Bingwen tapped his fingers lightly on the newspaper advertisement, his mind racing as he calculated various possibilities.

What was not a particularly noticeable business opportunity in Victoria Park's Lunar New Year Market in 1978 was, in his eyes, like an untapped gold mine.

Earn half a year's salary in seven days.

This number kept echoing in his mind.

Based on the current profit rate of Chan Kee Dessert Shop, earning more than HK$30,000 a month is already considered a pretty good result.

But if you can secure a stall at the Victoria Park Lunar New Year Fair, you can earn tens of thousands of dollars, or even more, in seven days!

Moreover, the consumption atmosphere of the Lunar New Year Fair is completely different from that of ordinary street businesses. During the Lunar New Year, Hong Kong people are willing to spend money, especially when they go to the Fair with their families. Eating and drinking are almost necessities.

Chen Bingwen closed the newspaper, his eyes resolute.

We have to get this stall!
That evening, Chen Bingwen called his parents together and explained in detail the business opportunities at the Victoria Park Lunar New Year Fair.

"Dad, Mom, if we can secure a stall at the Victoria Park Lunar New Year Fair, the money we can earn in seven days might be more than our current monthly profits."

Chen Guofu and Wang Qiaozhen exchanged a glance, somewhat hesitant.

"Awen, the Lunar New Year market does have a lot of foot traffic, but how much does it cost to bid for a stall? Besides, our dessert business has only just stabilized. Wouldn't it be too risky to suddenly start doing Lunar New Year business?"

Although they had already recognized Chen Bingwen's business acumen, Chen Guofu and Wang Qiaozhen still had some reservations.

After all, the dessert shop has just been revived, and now it has to invest a lot of money to bid for a Lunar New Year stall. If it fails, wouldn't that be adding insult to injury?

Chen Bingwen noticed his parents' concerns and explained earnestly:

"Dad, Mom, the Victoria Park Lunar New Year Fair will open on February 1st this year, which is 20 days away."

My goal is to try and take over all four cooked food stalls, or at the very least, one.

Based on our current situation, we only need to prepare stall decorations, insulation equipment, and wages for temporary workers.

I've done a preliminary calculation, and the bidding fee is roughly between five thousand and ten thousand yuan. In addition, each stall requires an investment of five thousand yuan.

Based on the foot traffic at the Victoria Park Lunar New Year Fair, a stall can generate at least HK$50,000 in revenue over seven days, netting over HK$30,000 after deducting costs.

"Third! This is indeed more profitable than our business."

However, Wang Qiaozhen still had some concerns: "But we only have a little over five thousand yuan on hand right now, and the bidding requires ten thousand yuan. Plus the equipment, labor... we don't have enough money."

Chen Bingwen smiled slightly: "Mom, I've already thought about the money issue."

He took out a newspaper and pointed to an advertisement that read, "Wing Lung Bank provides financial protection for small and medium-sized businesses. Hong Kong Island Small and Medium-sized Business Loan Scheme: Low-interest loans, disbursement in as little as three days."

“We can use the dessert shop’s qualifications and recent cash flow to apply for a loan. Based on the current cash flow, HK$50,000 should not be a problem.”

Chen's Dessert Shop now has a daily turnover of over two thousand yuan.
Chen Guofu and Wang Qiaozhen looked at each other, and finally Chen Guofu made the decision: "Since Awen is confident, let's give it a shot!"

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(End of this chapter)