How three small Hong Kong businesses thrived after the kids took over
By bringing new ideas to their family businesses, Connie Ko and her siblings, and graduates Jason Wong and Miru Wong have not only ensured their survival but improved their prospects
If family-controlled conglomerates have trouble getting someone from the clan to take up the reins after a couple of generations, things are even worse for small, traditional businesses. After all, the enterprise that grandad or great-grandad established isn't likely to offer a glamorous, high-flying career. Better-educated scions see their future elsewhere. Even so, a few are driven to keep their family legacy alive.
Wah Fung, a traditional (roast meat) shop that opened on Queen's Road Central in 1941, would have closed several years ago were it not for Connie Ko Hong-ying and her two siblings.
Their grandfather Ko Lo-wah established the business, but despite having survived the Japanese occupation, Wah Fung was struggling in the wake of the global financial crisis of 2008 and Ko's parents figured it was time to call it a day.
Raised on char siu from their shop, the Ko siblings couldn't bear the thought of having to order their roast meat from rivals. Despite having little experience running a company (Connie, an advertising professional, was a partner in the Backstage Live restaurant), the siblings decided to take a shot at rebuilding the family business.
"When I was little, the sifus always treated me to a piece of Jinhua ham when I visited [the shop], and dinners at home often included char siu that my grandfather brought back," Connie Ko recalls. "When I studied abroad, I would take a box of roast goose to enjoy on the flight. It would be a shame to allow the Wah Fung name to become history without putting up a fight."
They reckoned its woes were rooted in its old and unprofitable takeaway model, so and each chipped in additional funds to relaunch Wah Fung as a restaurant in 2009. Taking up spacious new premises on Wellington Street, its layout, combining traditional motifs with modern decor, helped attract younger customers.
The siblings each have different roles: Ko takes care of the administration, her brother oversees the finances, while their younger sister supervises food production. The restaurant has done well enough that they were able to open a branch in Kennedy Town last month.
