Growing up in one of the best destinations for foodies in Southeast Asia, have you dreamt of opening your own restaurants, cafes or hawker stalls?
In recent years, we have observed the rise of the next-generation “hawkerpreneurs”, especially after the COVID-19 pandemic. However, incorporating a food business is not that easy. Here’s 9 statistics you need to know before setting up your food & beverage business!
#1 One in five adult Singapore residents consumes fast food at least once per week. (Source)
#2 There are around 20k retail food shops, including restaurants, hawkers, cafes etc.(Source)
#3 In 2020, Singapore’s hawker culture is added to UNESCO Heritage list. (Source)
#4 Hainanese chicken rice top the list of Singapore savoury food, with 89% of Singaporeans who have tried them saying that they liked it. (Source)
#5 A couple spends around S$1,000 – S$1,200 per month on eating out, depending on their eating choices. (Source)
#6 The total sales value of food & beverage services in November 2020 was estimated at $705 million. (Source)
#7 In 2018, the average profit margin in Singapore’s restaurants was 5.5 %. (Source: Singapore Business Review)
We hope these numbers help you in planning your food business. It’s definitely not the most profitable nor easiest business you can set up. If you’re looking to get a signage for your business, we’re here to help!
We provide one-stop services from on-site measurement, custom design to delivery and installation – find out more about our services here.
Contact Style Adv and our experienced team will provide FREE expert advice and let you know the price of your dream signage.