It is in every food business owner mind wanting to know what and how to make their restaurant, cafe, stall, kiosk, food business successful in Singapore
In fact, for most new food business folks, they already identify what type of food and cuisine and how to market for their business to thrive. So lets dive in to the various thoughts of what will make a food business successful in Singapore based on score.
1. The Taste. Food palette
Scores of people we spoke to view this as the number one most important reason which will make or break the food business. And in our opinion, a resounding YES as one of the many reason. But not the main reason.
Yes, location is very important and this we can’t deny. The proximity to the diners as well as the conveniences to the diners. Depends on the type of food and cuisine and customer base, the importance of location score 7.2 out of 10 taking into consideration the size of Singapore and transport.
3. The Price Tag – Pricing Strategy
Price invoke emotion, a psychology branding strategy which is a double edge sword. Utilized it well, the business will prosper. Naturally, customers expectation rise and falls accordingly to its price to the different targeted affluent of the market. Convention wisdom says we can’t pleased everyone but a pricing strategy may be able to elevate a little.
4. Business Branding
Branding strategy draw crowds and identify itself out of all the hundreds and thousands of business. Giving boasting rights to customers, provided it is executed well together with pricing strategy. Branding places focus on the business identify, on its services, its cuisine, the dining experiences and more.
Be it a OmO (One man operation) food stall or a full service restaurant. Service, attitude as well as positive response is essential for the success of the food business. No one likes to see a grumpy face or an arrogant server.
Many people says marketing is not needed, since the diners will be helping them to spread the word if they are good. I would say Yes, if its in the 1980s or 1990s by depending only on palette draw. From the 2010s till now 2020s there is an increase of 100% food business licences in SIngapore but population increase only 25% more. Food business owners are competing more for the same stomach thus earning less. Marketing is meant to attract people who has not try your food, as well as communicating to the existing customers to patron again. Marketing brings back business.
Here we come to the $$ part. Setting up a successful food business, restaurant, food shop in Singapore is extremely challenging, the rental, equipment cost, man-power and not to mention government policies, restriction and taxes. Thus without a strong dose of money, don’t expect to start anything significant.
Do give your opinion in the review section and lets talk about it.
We will update this list as often as we can to give a good awareness of How and what will make a food business successful in Singapore. In the meantime, you may be interested in other reads here