Two decades ago, Singapore first earned the well-deserved reputation of the food capital of the world. Even today, it lives up to its name, as evidenced by the treasure of exotic and eclectic Asian cuisines that it dishes up for its spellbound tourists in troves. Let's also consider the fact that Singapore is home to more restaurants serving both local and international delicacies to the more discerning gourmands. There is also this thriving community of immigrants who work and live in this dazzling city which further makes it an ideal place for starting your own restaurant. Here is how you can do it.
The cosmopolitan population and thriving food and beverage business of Singapore have attracted many aspiring entrepreneurs to start their eateries. However, things have not been quite hunky dory for them. By default, the food and beverage industry can be challenging. Apart from the initial investment and hard work needed to set up a restaurant, there is also the stiff competition from other establishments to consider. Costs on rents, salaries and materials and ingredients can be high in Singapore, again due to the existing demand from other restaurants. It would be good to bear these in mind and make a good start.
Remember that not all legalities for company incorporation will be necessary for you to comply with. There are some basic formalities that you need to fulfill to get started properly.
Since you will be needing food handlers in your restaurant, a Basic Food Hygiene Training needs to be conducted for them. It will include a schedule of 6 hours of course work and an eventual assessment of 1 and a half hour for each worker. The basic fee for this comprehensive course of hygienic handling would be S$150. It would give you a definite edge as a professional establishment in Singapore.
Once you have sorted out these basic formalities, you will need to apply for other licences only if you need them. Here is a look at some of the optional permits:
The last one is something that you can register for even if your establishment is not earning such a high level of annual revenue.
Even after settling all the compulsory and optional legalities, you should not forget to hire a reliable lawyer who can draw up all the paperwork for you. Also remember to keep a shareholder contract intact so that all your potential shareholders can trust you with their support.
The legal wrangle involved in company incorporation for a restaurant can seem daunting to an entrepreneur in this place. However, if you have everything in order and the zeal to succeed in your venture, you can make the mark even in a competitive and cut-throat food and beverage market like one in this city. So, make sure that you comply with all the regulations and after that, with your own confidence, it will be smooth sailing.