I occassionally eat Vietnamese food if i see it, I think yes it would sell but your pricing would have to be carefully done, outside the city.FoodLover wrote:Hi guys,
Would you think it's possible to open a Vietnamese restaurant in Spore with minimal 100K startup, of course a bit far from the central area?
Also I would like to know if Sporeans and expats would like to try VNmese food in Spore, about S$20/person?
Although most of my friends have good impression with Vnmese food but I would like to hear from majority.
I would highly appreciate your reply!!!
I would have to see the location to get a feel of the place, check out the busiest times of the day and night, then look at your breakeven point, before giving you a list of "What If's" Most startup businesses are so enthusiastic, they have a tendancy to set their goals a little high, only to fall flat on their backsides.FoodLover wrote:Thanks, ksl!
Thank you for your instructive reply!
I asked as above because we are now in progress of interview for a restaurant located in a school Alumni club, hopefully with a very reasonable lease.
The construction and view are perfect, got built-in small swimming pool, gym for members (S$100+/year). From the restaurant we can see gardens down hill, really nice view...
But the problem is it is not in the city. Even though with good food, good service but reasonable price, would you think we can win?
And I want to learn how to cooperate with companies, offices, tourism companies to get constant flow of customers...
Thanks!
Unless you are catering for rich kids, your meals need to be priced accordingly.school Alumni club
It sounds very promising, if you have the numbers going through and staff, with no competition, I would say you are half way there. can you get alcohol licence or play music, if so utilise your skills to creating an experience not just a resaturant, create ambiance and maybe allow musicians to have practise nights at weekends.FoodLover wrote:Hi ksl,
Sorry, it was not clear. This is not for kids, for university actually. Then we would want to see staffs coming in with discount rate on daily basis for set meal. At the same time we want to run a cafe cum restaurant at night. It has a quite big indoor louge and large outdoor shelter, plus 3 VIP rooms.
Serving staffs is requirement from the owners to add value to the alumni club. We have to work out a lot of things as you suggested. We go for the interview because we find the rental is extremely good compare to the state of art construction...v...v... Rental here is equal to 1/4 to one in the city. We now only have good recipes and enthusiasm. Everything else we are starting to work on.
Thanks a lot for your reply!
I had a good example of this when I worked with a restaurant at Circular Quay in Sydney. The site was eye wateringly expensive at first glance, but when I did the feasibility study for the business, I discovered that three million pedestrians walk past the door each year, mainly tourists. This is what we call a ‘golden location’. To put it crudely you could put crap on a plate and still be wildly successful in a location like this and not have to spend a bean on marketing. This justifies an unusually high rent. In this case it turned out to be 14% of turnover, which in most other cases would be totally unsustainable.
For fun, let's use the $4,800 rent with no percentage. At 6% max rent, you will need gross revenues of $80,000 per month. For a $30 day month, you will need to have daily sales of $2,666, and at a $20 meal, this is 134 meals per day.Ideally, rent should not exceed 6.0% of gross sales unless there is a special benefit received by the restaurant operator by virtue of the superior location of the real estate or the quality of the improvements that result in increased revenue potential over what is typical for an average location.
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