F&B Industry Is Full Of “Landmines” In Singapore
High Rental Cost, High Manpower Cost, High Food Material Cost, High Marketing and High Renovation Costs all contribute to high chance of failure of F&B businesses in Singapore…
28% of F&B closes within 1st year of Opening !
However, the more successful F&B businesses in Singapore somehow follow more or less the same formula and checklist…
1) Don’t over spend on initial Renovations to preserve more cash for Working Capital needed to ramp up Customer base later…
2) Effective use of Space to maximize Rentals…
3) Focus on controlling your Manpower Costs via Automation and better Controls of Part Timers to fill Peak Hours …
4) Streamline of food Menu items to really focus Marketing and bring down Food Wastes and food Stock holding…
5) Market the USP in your Food concept…
6) just to name a few…
Hope to share more…
If you need help, feel free to contact us at :
(O) +65 63851011
(M) +65 90880669
