For 11 years, Strangers at 47 has been a beloved neighbourhood cafe, famous for its savory crepes. But behind the cozy vibes is a story of resilience, adaptation, and the relentless hustle of surviving in the tough F&B industry.
Co-founders Lim Sing Yi and Sean Ooi join us to share their journey from "fearless" young graduates to seasoned F&B veterans. They discuss the financial realities of running a cafe with thin margins, their strategy to boost profitability by expanding into catering and e-commerce, and their ambitious plans to launch a new flagship store.
We discuss:
The 11-year journey of building a beloved neighbourhood cafe.
The financial realities of running an F&B business on 6-8% net margins.
Their strategy to boost profitability by expanding into catering and e-commerce.
The biggest ongoing challenge in F&B: hiring and retaining talent.
Their future plans, including the launch of a new flagship store.
For aspiring and current F&B entrepreneurs, this is an honest and insightful look at what it truly takes to build a sustainable and beloved brand from the ground up.
See omnystudio.com/listener for privacy information.