If you are in the food and beverage trade, looking for the best location for your restaurant can be quite challenging, especially if you are just starting a new business. Singapore is a thriving location when it comes to commercial property and this means that there are lots of spaces available for f&b owners to choose from. With so many choices available, how do you make the right choice in choosing your location? These are 5 things to consider when choosing your best location for F&B in Singapore.
It would be pointless to open your business in a location which doesn’t have much passing trade, as you will be out of business before you have even started. When choosing the location of your premises, always consider the amount of human traffic around and try to pick somewhere with a lot of hustle and bustle. For instance, at the moment there are f&b shop for rental available at Far East Plaza and being part of a shopping mall with over 600 other shops, you can expect good passing trade, especially at the weekends. Do your homework when it comes to finding out about traffic in the location and visit the area at different places to get an idea for yourself. Do not just rely on what you read.
It is also important to check who your neighbours will be prior to taking out a lease on commercial property for your f&b business. In a large shopping mall, you would expect to have some competition, but if the entire floor is full of similar businesses, it might be wise to think twice. Similarly, if it is a smaller location, such as on a street, you should try and choose somewhere without any competitors, as this could really break your business.
Take time to consider the size of the premises, based on what you are hoping to achieve. If you are just looking to serve a small lunchtime crowd, then smaller premises will be fine. However, if you want the weekend trade, you should be looking for bigger premises. The most important points to consider are ensuring your customers will not be cramped and that you adhere to health and safety regulations.
Access to public transport
Another important aspect to consider when finding commercial premises for your eatery is how accessible it is to public transport. If the nearest bus or train station is 10 miles away, you will instantly be missing out on a huge amount of traffic. Many people drive every day of their lives and at the weekend, a lot more people rely on public transport to get around, so they don’t have to use their car. Customers will not want to walk for miles to reach you, so make sure your premises are near enough to pick up this trade. Your weekends are when you will do most of your business and losing out on this kind of traffic will massively affect your business. An example of a good location for public transport is The Promenade. It has Bartley MRT Station, Serangoon MRT Station and Kovan MRT Station, all at walking distance from the premises.
Car Parking Facilities
In addition to public transport, you always want to ensure you have facilities available for those who are driving. Most shopping malls will usually have their own car parks, or at least some which are close by, so these are always a safe bet for your f&b space. Otherwise, it is worth checking the area to find out what options are available for parking. Again, if possible, it may be worth taking a wander to the area yourself, before you sign on the dotted line, as there may be car parks, but that’s not to say that they won’t only be for residents of the area.
Terms of the Lease
Yes, I said 5, so this last point is a bonus! Now, another point to consider when choosing the best f&b location in Singapore is the terms of your lease. F&B businesses are notoriously difficult to keep afloat, so you want to ensure you get the best possible deal with the terms of your lease. There are so many available commercial premises that landlord are usually flexible with their deals and may only take rent from you when the business actually opens or they may offer you a couple of months free. It is worth asking anyway!