Conversations at Tea: The F&B Business Series – With Benjamin Yang and Mark Chew
I had a successful “Conversations at Tea” with Benjamin Yang, Managing Director of Novitee Pte Ltd, and an internationally sought after F&B and Retail Profit Strategist.
Do you want to know what is the current situation that F&B Business face in this current market? And what the future brings for them?
So here are 5 Learning Points from the session!
1. 🍱Innovation in the Kitchen and Among the Chefs.
Some business have menus that change weekly. Some business have food that is not cooked, but freshly prepared for you so that you can experience the cooking process.
2. 🏍 For F&B Operators, if there is a limited Budget, focus on proximity delivery.
That is to say, you should focus on serving the customers around your locality well. So that when Circuit Breaker is lifted, the brand loyalty will be on the TOP of their head.
3. 💻 📱 Convergence of Technology and Consumer Experience.
Use technology to build a personal relationship with your customers. Is there someone manning that WhatsApp chat for you? Can that staff engage in account management? Can that staff remind the client that the last time he bought something was some days ago?
4. 🍣🍳Menu and Food Prices.
Do expect the price of food to go up. This is to help keep delivery fees in perspective as well as for profit margins to be better for the business. Would you pay $5 delivery fee for a dish that costs only $6? or Would you pay $5 delivery fee for a $20 meal?
5. 🛡 Cater Your Insurance towards your Newly Redeployed Staff.
Many staff are covered by insurance (either FWI or WICA) for their work done within the physical limitations of their job scope within the store. You must always inform the insurer that your staff’s job scope has included delivery. This will protect them, should the unexpected occurs during the delivery process.
Watch it here during your own Tea Time ☕️ 🍵
👉 Conversations at Tea: The F&B Business Series 👈
#TotalRisksThursdays #MARKofLeaders#XmarksTheSpot
chewmark 