Starting a Food-and-Beverage Business in Singapore

Food-and-Beverage (FB) service is among the booming businesses in Singapore, after recoding a massive growth in the last 5 years. The statistics shows that right from the 4,489 established in the 2005, this number has significantly increased to over 6,197 in the year 2010. If you want to enjoy the high returns in this industry, you need to make sure that you have the necessary tools that will make you enter the market and gain profits. The following are some of the tips that you need to know on how to how to start an FB outlet in Singapore: 1. You need to register your business entity under the Accounting Corporate Regulatory Authority (ACRA) You need to make sure that you have all the vital government-related licenses before making your application. They include the licenses to offer commence food and/or the liquor licenses (if you want to offer alcoholic products). This will always give you the permission that you need whenever you are operating at the same time giving you confident that you are operating within the law in Singapore. 2. Do your competition analysis Just as starting any other kind of business, you need to make sure that have studied and made your analysis of your competitors well. In addition, you need to have an in-depth comprehension of the market that you indeed to enter. This means that you need to gather all the information that you need to make the best choice in the market. Most of the F B establishments are often build on reputation aroundShow MoreRelatedCase Study - Marketing for Hospitality and Tourism1567 Words   |  7 PagesMillenia Singapore† Summary Walter Junger is the executive assistant manager in food and beverage department of the Ritz-Carlton Millenia Singapore hotel. 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