cubby74 Posted February 1, 2007 Report Share Posted February 1, 2007 Its something that has been troubling me for some years.I want to start my own biz..probably food biz. but have been very hesistant. Been working for some years now and really felt i am not suitable for the corporate life. anyone who had any experience to share? Link to comment Share on other sites More sharing options...
lestud Posted February 1, 2007 Report Share Posted February 1, 2007 I left corporate life after a retrenchment 5 years ago and started my own restaurant for over 2 years. I will say that it was extremely satisfying where u worked for yourself. But it was financially draining. For two years of no income, and losses in the business, I will say that it has cost me more than a master degree at Harvard.The experiences I have gained were invaluable. But since I returned to the corporate world, I will say that the mindset and views are different. Wont say it is for better or worse though, it is all a matter of perspective.If you think you have a winning formula for setting up a food business, make sure you have enough coffers to last you through the period. Food businesses are not as simple as they look, and given the competition in singapore, I will advise that you look at other businesses that will potentially give u a better return. Link to comment Share on other sites More sharing options...
Boxers Posted February 1, 2007 Report Share Posted February 1, 2007 So far, we always see those successful businessmen being featured on newspaper or TV but we seldom see those who failed. There are more people who failed in their small businesses.Just observe the change of restaurants/retail shops in shoppin malls or HDB hubs and you will know. Many people failed and landed up in huge debts then go back to work to repay their debts. Very poor thing. "Do what you wanna do in life despite what others say, it's your life anyway." Link to comment Share on other sites More sharing options...
Guest 40 plus Posted February 2, 2007 Report Share Posted February 2, 2007 Totally agree with you guys, for every success story we know there are probably 100 of others who fail to make it.Not sure why most why people want jump into food business, maybe it is the easier to startup compare to other business. Sometimes I really pity those newly open restaurant in a odd location and with poor business. How come they didn't do enough homework about that particular location? Maybe they already know but still want to gamble. Worst of all if you open one in a mall, the rental is likely to be contract for up to 12 months. The landlord is quite happy to collect their rental and see you bleed to death every month. Link to comment Share on other sites More sharing options...
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