The chic restaurant, which opened to much fanfare in November 2022, cost almost S$1 million to set up. The bulk of the cost was spent on renovations and outfitting the detached house – around S$800,000.
“If we had spent less, we would probably still be operating. It’s the start-up investment that killed us,” he told 8days.sg.
Yeo and his partners, who also own zi char concept Charcoal Fish Head Steamboat Restaurant, retro-themed kopitiam Tan Xiang Chai Chee and beer garden Playground, had projected the restaurant would break even within two years.
However, operating at its current location in Little India has been challenging. Not only is there a lack of parking and shelter in the vicinity, but the business takes a big hit during the rainy season as most of their seats are outdoors.
“We foresaw these problems, but we didn’t think they would affect us so badly,” shared Yeo.
“When business was good, we made money but even then, it was not fantastic. But in bad months, the losses were tremendous, around S$20,000 to S$40,000 per month. Perhaps this location is not suitable for our concept.”
