Capital needed to start a food business
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anybody here have the experience starting a food outlet in a nieghbourhood.
I mean as a standalone restaurant , not at kopitiams.
I am just curious to know. What is the capital needed? the Rent and operating costs ect on daily basis. -
If you need to come here and find out, you're nowhere near the capability of running one.
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STFU. How u know eh? If u cant give advice then STFUOriginally posted by ditzy:If you need to come here and find out, you're nowhere near the capability of running one. -
There is a lot of these small outlets cropping up. Maybe singaporeans are more entrepuener nowadays
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I agree with ditzy, Coming here getting advice like this will only result in a failed business
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I asked for ppl's experience. Of course u have to sit down and analyse what they say.Originally posted by Agenda:I agree with ditzy, Coming here getting advice like this will only result in a failed business -
It depends on your concept, location and operations costings... A simple F&B business will need about at least $150k just in startup cost and planning...Originally posted by Homecoming:I asked for ppl's experience. Of course u have to sit down and analyse what they say. -
What abt the profit margin in a HDB heartland?Originally posted by dork3d:It depends on your concept, location and operations costings... A simple F&B business will need about at least $150k just in startup cost and planning... -
You should sit down and research about rent, fixtures, food cost as well as prices. From there, you can calculate your profit margin. You must also calculate your daily breakeven point and then decide if you can have to volume to sustain. Also think of your cash reserves and consider how long can you go without making a profit. It is likely when you 1st start off, the 1st 3-8mths aren't likely to be profitable. You should also establish a point where by you prepare to call it quits if it doesn't work out.
Again, if you are clueless at this point and coming here to look for advice, I think you should re-evaluate your plans.
For F&B, you must think of a niche to attract people. Very important is your location and your initial promotion efforts. Very competition these days. It seems many try to do something of this sort but fail. How are you going to compete? By unique menu? Lower cost? Or by sheer variety? Consider these. How much do you want to spend on your promotion efforts and the initial discounts that will likely make you sell your goods at cost.
There is no set profit margin or standard costs. No point asking here, best to go on the ground and conduct your own research. I'm afraid asking here is letting yourself be mocked and seen as having wishful thinking.