Consolidating Your Concept

 

Maybe you’re thinking of starting up your own F&B outlet… maybe you’ve gotten even further than just wanting to start something, and you’ve got some ideas about what you want to do that you think are great. But you’ll need to be able to articulate these ideas to take your dreams into reality. Here are some easy ways for you to refine your thoughts and lock down a stronger concept before you take the plunge.

 

Think about the places you frequent

There are probably a few places you frequent, whether alone or with your friends. Why do you visit these places? Maybe it’s the ease of access and convenient parking, or it’s the quiet atmosphere in the evenings. It could be the interesting menu, a particular dish that you like, or simply great prices.

List out all the things you like and pick a few – remember, you can’t have it all. Tweak your idea to see if it fits these key factors.

 

Think about places you don’t visit or don’t like

It is useful to put yourself in the position of a diner and think about what prevents you from revisiting an F&B outlet. What makes a place uncomfortable? Inconvenient? Unpleasant? Or simply unremarkable?

Again, check back that your idea does not fall into one of these categories and the steps you want to take the prevent it from becoming that way.

 

Research for similar concepts

Don’t just stick to your existing experience and knowledge base. Look into places that have similar ideas to what you want. It’s easy for someone to know they want to sell chicken and have live music – those details alone do not make up a good concept – what other places sell chicken and offer live music? Or maybe places that do really well in either one? These could be your future competitors, so find out what online reviews say about these places, their prices and their menu. Or, the idea could have existed and failed, so find out why!

 

Visit interesting outlets

There’s nothing like finding out for yourself. Read up on the latest popular dining spots and find out where new F&B outlets are setting up. Visit the interesting and popular places you find during your research process. You never know what ideas you might get from them!

 

Be brave enough to bounce ideas

Ask, ask and ask! At the very least, your friends and family members will be able to feedback what they like or don’t. Consider talking to service staff, chefs or other F&B business owners to learn more about their work hours and the areas they find challenging. You might be surprised by the insights they can share, and who knows, you might just find people you can potentially work with in the future!

  • Norman Lim

    Looking to start a small food business and wanted to minimise start up costs. Setting would be to look for a small retail shop to sell cook food. In terms of setting up the business, can I go for sole proprietorship instead of a Pte Ltd company? What is the fastest way to to setup up the food business. Can any expert here advise? Many thanks