[Updated 2018] Want to open an F&B outlet in Singapore but all the reading up on protocol putting you off? iCHEF did the homework for you and here’s the application process in practical, easy-to-follow steps, from beginning to end.
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Opening a new restaurant
Have you ever wondered why some restaurants look packed every day but in fact make meagre profits? Their revenue may be high but the costs incurred are high as well. On the other hand, some ordinary-looking businesses are able to make better profits and outlast their more popular competitors. The key is understanding what makes up your restaurant’s operation costs and how to balance them so that a minimum profit is guaranteed.
A list of the things included in most POS system packages, including hardware, software and support, explained.
The point-of-sale system can make or break your restaurant – think of it as your outlet’s operating system. An inefficient one hinders your operations, frustrates service staff and is a hassle to change. Understanding what you are getting in your point-of-sales system is thus very important.
So you need to get a point-of-sales (POS) system for your outlet. What kinds of point-of-sales systems are popular in Singapore? What can they do, and what should you know about them?
"POS" stands for point of sale, the place or time where a sales transaction is completed.
POS systems simplify essential day-to-day business operations by performing order processing, billing, credit card processing, receipt printing, and more. POS systems today are widely used by both retail and food businesses.
More than just PIC and ICV. Opening a restaurant is expensive – thankfully we have some government grants and subsidies that make it a little easier to bear.
The Singapore Restaurant Owner’s Guide to Choosing A POS System
POS systems are in practically every restaurant, café and food kiosk in Singapore. Even some hawkers and stalls in food courts have them. The benefits of having a POS system are straightforward – in a place where tens to hundreds of transactions are made every day, your POS helps you keep track of how much money you’re making.
If it’s your first time opening a restaurant, cafe, or stall, where do you start?Apply for your NEA licence? Get funding? Start marketing? And how do you do all that?Attend our F&B Entrepreneur Bootcamp and get some guidance.