On Unique Selling Point (USP)
- Differentiate by experience and concept. Kakis Cafe: Fitness bar. Saveur: Fine-dining food for masses. Starbucks differentiated by defining a new lifestyle.
- If getting a band, check if the band already have followers?
On Breaking Even:
- typically 1 to 1.5 years
- Most of them went through a period of deficit in the beginning, crunching in the red for months. The thoughts of giving up will strike in the 6th month when u r just bleeding money day to day. then things will start to pick up, and eventually getting to the break-even point.
- "好的时候不要看得太好，坏的时候不要看得太坏” - Ms Jaye Tan, Kakis Cafe
On "You have to know everything yourself":
- because your head chef can just walk out on you. but you have to serve that same consistent quality of food that night with a smile.
On setting up:
- calculate the Capex: equipment, manpower, levy - these are all costs which would add up
- consider the menu - pricing per dish
- consider the turns per minute, how long does it take to cook 1 dish, how long the customer will take up that seat
- on finding that special shop lot, it can be by zooming into a specific location, or it can be opportunistic such as seeing a vacancy or takeover in the newspaper. check out the size and seating capacity if it fits your USP. it didn't matter that Jane Thai is in some ulu place in Orchard or Kakis cafe is in Changi or Saveur started in coffeeshops.
On expanding and social media:
- Make sure your restaurant is ready before making a big publicity. because ppl will come in throngs. everything from start to end - chef, service, operation, queueing system - has to be ready and deliver the same quality over and over again. it's about Consistency.
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