Singapore is globally known as to be one of the most sought after destinations for food. There are many types of cooking in this country, which is full of vibrant colours and flavour. As the food industry grows, there are many bakeries and restaurants that pop up all over the city. Then there are some that close down during this said period as well.
If you are an entrepreneur who is looking to open up the best Singapore cake shop, then you need to educate yourself about a few factors before you take your first step towards success.
There is a need for good labour, which does not cost you a lot of money. However, you should be able to pay your staff fair wages and not except them to stay with you if you do not pay adequate wages. You need to be close with your staff and build a relationship too.
There are a percentage of restaurants and food outlets that has not obtained the required license or they pay an extra amount of cash to operate without a license and stay under the radar. Check the government and the requirements that have been passed so that you can obtain it too so that your business will be a legal entity. There are other courses such as Food and Hygiene courses, which are aligned with the health department’s standards.
There are few lands in Singapore because it is a small country and therefore, most business pays rent to run their business. A deposit of three to six months must be paid in order to secure the site. You will need funds to purchase the necessary equipment such as ovens, refrigerators and furniture for customers to have a seat. A small cart or kiosk can cost approximately around eighty thousand Singaporean dollars.
Regardless of the expenses, the government provides grants and incentive schemes to those that require it for any food and beverage outlet. There are grants such as PIC (Productivity and Innovation Credit scheme), Capability Development Grant or even Intentional Enterprise.
There are many new business ventures that are rise and brands that quickly pick up. This is based on strong marketing strategies and how the business reaches the target market.
The venue location
You need to find yourself a cheap and accessible location for your customers. You would not want to start your business in a very slummy area where you will not be able to attract customers.
Delegate all the tasks once you get your team. Your family will help you until you get yourself helping hands and afterwards they need to be given responsibility.
Study a few fast restaurants and bakeries so that you will be able to learn the level of service standards. You can use it as a benchmark and continue to improve your business.