12 Apr F&B turned upside down
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Given that a new restaurant opens on average every day in Singapore, you might expect some wonderfully diverse and rather crazy options being presented to consumers. Unfortunately, this is not really the case. If we remove variables such as interior design, price and food type. We pretty much see a similar setup … a restaurant (or cafe, or bar).
For anyone working in F&B, the endless challenges involved in building a sustainable F&B business will be all too familiar; fickle consumers, hyper-competition and online disruption are just a few. So why fixate on the convention of a ‘restaurant’ at all?
Let us reverse our thinking completely. Let us start with an ecosystem and weave in the F&B aspects separately. Let us focus on something that may command more loyalty than your typical F&B spot.
Let’s take a boutique gym and turn it into a ‘shake bar’. Let’s start a trendy table tennis venue and serve cocktails. Let’s run hip-hop dance classes besides a graffiti-clad bar. Mashup, mix up and think differently. If we start to approach F&B from a service, not food perspective, we will see closure rates drop and more variety in Singapore. Ultimately, we will see a positive contribution towards the cultural fabric of Singapore.
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