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Set Up Your Own Restaurant in 9 Simple Steps

Set Up Your Own Restaurant in 9 Simple Steps
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Having set up my own restaurant from scratch and with little help around me, I want to share what I have learnt with future business owners like you. It was not an easy journey but it was one worth taking. These 10 steps will give you a comprehensive overview of the technicalities of setting up a restaurant in Singapore.

1. If You Fail To Plan, You Plan To Fail

Come up with a business plan – the more comprehensive, the better. Don’t be lazy to note down all the gritty little details as well about your financial goals, budget, marketing strategy, pricing strategy, daily operations, vendor list, hiring and training rules as well as your standards for customer service.

Although this may all be ideals at this point of your operation, having a foundation for your standards and goals is important so that you can build upon it once your business is up and running.

2. Raise That Capital

Let’s face it – Singapore is not a cheap place to set up a restaurant in. High rental rates means that you need to get sufficient capital before opening your own business. 
A safe amount of capital is above $200 000 , not considering additional expenses such as marketing to raise awareness of your new restaurant as well as operational costs that can cost up to $40 000. 

You can choose to get support from the government since you are setting up a SME with their multiple grants which you can check out at this portal. You can also choose to take a personal loan as well and check out SingSaver for personal loans with the lowest possible rates.

3. Register With Your Local Government

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