Restaurant, Cafe, Food & Beverage Units for Sale Singapore
Food – One of Singapore’s Main Cultures
Food is effectively a unique culture in Singapore as Residents seeking out good food and having great entertainment. There are so many Asian types: Chinese (and various dialects), authentic Indian (North Indian, South Indian), Malaysian, Indonesian, Vietnamese. Singapore has their own ‘creations’: chilli crab, chicken rice, rojak, bak kut tech, Peranakan, etc. With the influx of foreign executives and workers, there are ‘home comfort food’ respectively such as Japanese, French, Australian, American, Russian and Brazilian.
New Property Launches
Longhaus (F&B Units at Level 1)
Location: Upper Thomson Road
Developer: TEE Ventures
Architect: Metaphor Design + Architecture
- Rare Freehold Level 1 at Upper Thomson
- Mix of Residential, Shops, Restaurants
- Near Marymount / future Upper Thomson MRT Station
Location: Changi Road
Developer: Wealth Development
Architect: DP Architects
- Rare Freehold Ground Level at Eunos
- Mix of Offices, Shops, Restaurants
- Near Eunos / Paya Lebar MRT Station
Royal Square at Novena
Location: Irrawaddy Road (Gateway to Novena Health City)
Developer: Hoi Hup
Architect: Consortium 168 Architects
- Restaurant at 1st, 2nd & 6th Storey
- Direct Covered Link to Novena MRT
- Catch Patrons easily
Starting and Managing F&B Business
Entrepreneurs should note the low survivorship in this industry. Based on statistics from SPRING Singapore, around 25% of all F&B business are new and 57% survive their first five years.
Challenges faced include the purchases of kitchen equipment, renovation and the need to have a buffer of the operations for the initial period. Business owners have to deal with much legal formalities, licenses, liquor license, health inspection, etc.
To complicate matters, starting an F&B business requires business owners to deal with legal formalities since the industry is heavily regulated by the government. There are licenses (e.g. Halal license, liquor license and food shop license) to secure along with the usual bevy of legal fundamentals that every business needs to get started like registering your business and getting your key contracts in place.
The demand of this business is rough and ferocious. There is always intense competition, high rental cost, high staff cost, unstable cost of ingredients, attracting and retaining staff and a complex and uncertain economy.
Inspite the challenges faced, there is a great satisfaction if and when the business is successful. In many instances, owners have formulated the steps and enjoy a continuous steady income.
The food industry is always evolving and appended below are some of the trends some food experts are noticing:
The rise of private dining
- Enjoying food, comfort and cosiness in the home of the chefs. This is usually less expensive than in a restaurant.
Steakhouses and Grills
- There are more variety with more intricate cooking methods. There are charcoal ovens, unorthodox cuts of meat, specially breed meats, such as snow-aged full blood wagyu beef and a hosts of others.
- Asia is just so divest, there are more and more types of Asian cuisines being served. Most use special Asian ingredients, found at certain parts of Asia. There are also many which enhance local food and turned them into more premium versions. There are also foreign chefs doing their take on local and Asian flavours.
A combination of Restaurant and Bars
- Some western restaurants provide bar services and it is also catching on with Japanese and Korean restaurant. Patrons can choose to have full meals with recommended alcohol or alcohol with some unique food or simply only alcohol or cocktails.
- Of late, there is a Singapore craft beer options, starting from well-known Red Dot Microbrewery and Archipelago Brewery. There are more recently, such as Brewlander & Co., Starker Fresh Beer and Little Island Brewing Co. There are also more people who are keen to customise their own line of craft beer and there is likely to see outlets providing these services.
Singapore Residents Simply Love Good Food
It is not uncommon to hear of people travelling far, even to some obscured part of Singapore, forming long queues, waiting for more than 45 minutes to get good food. There is much write up from various food blog that enhance this way of life. Once the reputation is formed, business owners can get very busy. Location of such ventures become less significant.
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+65 6100 8123