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Trouble in financing is the main reason for closing. Social enterprise sounds good in paper, but execution is the challenge...
Singapore's first hawker centre run by social enterprise closes
Channel NewsAsia understands the enterprise - Best of Asia - had trouble financing the hawker centre.
There was great fanfare when Kampung at Simpang Bedok was officially opened in February this year, but business began to slow down in April.
It is believed that the centre was handed back to the landlord last month.
A former tenant said one of the reasons for slow traffic was that the hawker centre is located on the second level.
David James, partner at Gina’s Vadai, said: "We could not cover costs, we were running into big losses. I mean, the management itself was running into losses. They took on a huge responsibility, being in the private sector, to pay people to work.”
http://www.channelnewsasia.com/news/sing...78658.html
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08-11-2013, 10:10 AM
(This post was last modified: 08-11-2013, 10:34 AM by opmi.)
business no good coz food not so nice. Spize & fishball noodles downstairs can attracts crowds.
I think the landlord is Far East Group. That place used to be called Bedok Shopping Centre with FEO (seen long long ago)...hahaha...
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(08-11-2013, 10:10 AM)opmi Wrote: business no good coz food not so nice. Spize & fishball noodles downstairs can attracts crowds.
I am not clear on its model, but if the stalls are on salary, rather base on PnL, than no motivation to serve good food.
The same critic on food-courts in mall, but in mall, there is no choice, unless go for restaurant.
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To be successful, food must be OK. if the place is not convenient. car park also a bit of problem.
Went there to support once. Food ex and so so only. Maybe they need Chef Eric or Chef Sam Leong to
do a 'food makeover'...
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yup, food must be genuinely nice to begin with. You must be famous for something.....
I've seen food centre/establishments located on 2nd floor, out of the way location, limited parking, limited seats, but when you have nice food, Singaporeans throng there.
Went there once, no one eating at the stalls at all.
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This survey re-enforces the views ...
Taste, not price is key to Singapore foodies’ hawker choices
SINGAPORE — When it comes to hawker food, Singaporeans have no qualms about paying more for quality mee rebus and chicken rice, according to the results of the “Really Worth It!” Hawker List released today (Nov 8) by the Retail Price Watch Group (RPWG).
The online list was collated from the results of the RPWG Hawker Hunt, which was conducted on the RPWG Facebook page from Sept 6 to Oct 18. A total of 60 hawkers were nominated and 2,151 votes were cast for hawkers in four categories: Fishball noodles, chicken rice, mee rebus and nasi briyani.
...
http://www.todayonline.com/singapore/tas...er-choices
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i am just thinking why can't we run a Social Enterprise as Private Enterprise? Or a Private Enterprise as a Social Enterprise?
Don't we have NTUC, Tamasek, GIC, etc...Sometimes i am not sure what these companies, etc are for? For All Singaporeans, or some Singaporeans? Or very little for most Singaporeans and a lot for some Singaporeans? The worst case is for some FTs too. No? Perhaps my perspective is "Myopia"
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Social Enterprises is a business, with 2 bottomlines, profit and social impact.
NTUC Co-ops may have lost their ways by pursuing profit...
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(08-11-2013, 03:05 PM)opmi Wrote: Social Enterprises is a business, with 2 bottomlines, profit and social impact.
NTUC Co-ops may have lost their ways by pursuing profit...
Social enterprises are usually run on a cost-recovery basis rather than pure profit generation. If it is really just profit oriented, there would be business decisions that can run against the social motivations of starting the business in the first place.
You can count on the greed of man for the next recession to happen.
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A business need to generate profit to self-sustain, invest or build up
reserve for the future. Cost recovery not sustainable for long run
coz one day goodwill/donations of others will run out.
That why it is more difficult to run a social enterprise. For-profit
does not mean profit maximization. It is balance between profit
and social objectives.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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