FORMER Economic Minister Datuk Seri Rafizi Ramli has unveiled FlexiMart, a social enterprise convenience store designed to offer affordable food and daily necessities while providing business opportunities for youth and B40 families with lower start-up costs
Rafizi explained that FlexiMart adopts a musyarakah partnership model, enabling partners to share both risks and potential profits.
The musharakah partnership model is a joint venture in Islamic finance where two or more parties contribute capital or labor to an enterprise and share in the profits and losses.
This approach reduces start-up costs to approximately RM150,000, compared with the usual half-a-million-ringgit barrier due to brand licensing, renovations, and fixed overheads.
“Through this social enterprise model, three operating partners become co-owners. They receive a basic salary of over RM2,000, and after covering all costs, net profits are shared. When they feel like real owners, they work harder because better performance translates into higher earnings,” he said.
The initiative aims to address the challenges faced by young Malaysians aged 25 to 27, who typically rely on salaried employment earning a median income of RM2,300 to RM2,500 per month. Rafizi added that FlexiMart also allows them to gain hands-on business experience while earning a stable income and profit share.
FlexiMart focuses on selling quality food and beverages at competitive prices to counter rising market costs. “A cup of coffee now can cost RM14 to RM15, but the real cost of an Americano is around RM3. We sell it at RM4, while a latte priced RM5 to RM6 still leaves a profit margin,” he said.
Rafizi highlighted that the concept builds on the previous People’s Income Initiative (IPR) under the Ministry of Economy, which allowed B40 families to sell food via vending machines without hiring staff or renting premises. “
Some participants sold 150 packs a day at RM5 each, achieving daily sales of RM700 to RM800, and after costs, they could earn around RM6,000 to RM7,000 a month,” he explained.
The first three months will serve as a trial period to evaluate financial performance and customer response before potential expansion.
“We need to test the model for two to three months. If it proves profitable and sustainable, providing returns to partners and operators, we will expand. Many have asked to join, but we must ensure it works first, otherwise people might think it is a scam,” he said. - November 1, 2025
