In a country where the average F&B lease term is 2 years, it's impressive (and inspiring) to see a business that has been around since 1980. Learn how Norman Hartono, general manager (Lokkee & Dancing Crab) keeps things fresh.
For over 20 years, Cynthia Chua, founder & managing director of the Spa Esprit Group, has brought beauty, lifestyle and F&B concepts to life on our shores and beyond.
"There is no one thing that contributes to success. But there are things that can break a business. Two things that are vital in remaining sustainable are good people and maintaining reasonable property costs," says Koh. "Unfair or unreasonable rental hikes can kill a business. This is something we've seen far too often."
What's the secret to business success? In a country where 40% of small F&B businesses close within 5 years of opening,* this is literally a million-dollar question for many aspiring local entrepreneurs. We ask six leaders in Singapore's food & lifestyle scene.