FAILED ENTREPRENEUR! Come In.., Share your failed ideas and experience. 
Oct 9 2016, 08:01 PM
QUOTE(Splynncryth @ Oct 9 2016, 03:38 PM)
The only concepts that's tested and lasted through time is "MAMAK". Chatime, and others ... got in first and penetrated the market right. Duplicating similar concepts is not advisable in today's time. Yes, food business can work but depends on what business. How much is investor willing to throw on a new food chain business.
Everyone is "openly saying" economy is bad, people loosing job, government have no money, but failing to understand these are not important to us. We need to stop talking too much and start thinking. Regardless of economy, people still eat. People still move. People still gets sick. People will still buy. There's always opportunity even in the worst.
To give you an example. I've favored those "Seafood" restaurant and have always look into ways of making one. But you see, I don't have the expertise although I may know people. Maybe in 1-2 years time or maybe when I bumped into someone that might know how to make it work, I'll throw my money in it. Why? Look at those seaside in Melaka, NS, where seafood restaurant flourish like there's no ending. People will pay to eat and these are the kind of business that could last. But those concepts got it right because they're at seaside and even if that may be a factor, we've seen several in Port-Klang that died. So, it also depends on how we make it happened.
But trying to duplicate similar concepts in KL/Selangor Central Areas is going to be tough. Unless the location is good, niche, ... the food is similar everywhere. In the end, it's just the concepts that got it working. (Primary Factor). Getting people to talk and how social media tend to over-hype it and make the business grow with attention .... etc... these are all secondary.
So again, it depends on what kind of chain restaurant are we looking at here. If you're to challenge fast-food-chains or instant-mix, look through the concept if it's something socially lasting or not. Too many havoc at the start and the buzz just die after few months.
But then again, There are many investors here that scout for talents and ideas. If you have something you think might work. PM us.
I just got to reply to this, to an elite. Everyone is "openly saying" economy is bad, people loosing job, government have no money, but failing to understand these are not important to us. We need to stop talking too much and start thinking. Regardless of economy, people still eat. People still move. People still gets sick. People will still buy. There's always opportunity even in the worst.
To give you an example. I've favored those "Seafood" restaurant and have always look into ways of making one. But you see, I don't have the expertise although I may know people. Maybe in 1-2 years time or maybe when I bumped into someone that might know how to make it work, I'll throw my money in it. Why? Look at those seaside in Melaka, NS, where seafood restaurant flourish like there's no ending. People will pay to eat and these are the kind of business that could last. But those concepts got it right because they're at seaside and even if that may be a factor, we've seen several in Port-Klang that died. So, it also depends on how we make it happened.
But trying to duplicate similar concepts in KL/Selangor Central Areas is going to be tough. Unless the location is good, niche, ... the food is similar everywhere. In the end, it's just the concepts that got it working. (Primary Factor). Getting people to talk and how social media tend to over-hype it and make the business grow with attention .... etc... these are all secondary.
So again, it depends on what kind of chain restaurant are we looking at here. If you're to challenge fast-food-chains or instant-mix, look through the concept if it's something socially lasting or not. Too many havoc at the start and the buzz just die after few months.
But then again, There are many investors here that scout for talents and ideas. If you have something you think might work. PM us.
If you notice, some mamak do close down. They do business but soon they will suffer from their ill gotten gains. How many people learn from being "slaughtered" by ridiculous pricing? How many of you had stomach aches after a meal there? This will amplify (people thinking twice to have a proper meal there) when prices go for a few more rounds of "UP".
Seafood restaurant would be a headache if you had invested on a group of people who couldn't prepare up to standard/overpriced/reputation of establishment or owner. Best example? None other than the famous Red Shirt Man - Sekinchan Ikan Bakar. How many branches today vs few years ago?
Folks will always say economy is bad at the slightest hint of "price increase, lack of job opportunities". Prices will increase even if we vehemently deny it. For FnB, if your price is right, food is average to good, delivery optimal speed & no slip-ups, you can expect a line queuing up for a meal even when it's a rainy day. As for investing, choose your man/woman/group wisely.
"Regardless of economy, people still eat. People still move. People still gets sick. People will still buy."
- The only problem is opportunity to tap into a business or you feel the lack of handling/giving the service e.g. you aren't a doctor & it's wrong in every way for you to treat people. Anyone would still pay bills, get married, buy things for their child, school necessities, pay for healthcare, pay for transport, pay for your demise or others - the niche and needs are always there, but the one who can provide can earn the $.
I daresay, the way McD is running their business today, you will see less people lining up.
- Most of their new promotion "sets" are above 12. It used to pull the "poor" crowds to eat something "new" for 10-ish. Their portions had shrunk.
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