Next-gen F&B owners on closures spike

Why say yes to joining the family business?

Winning over elders with fresh creative ideas

What’s it like working with family every day?

What if the next gen won’t take over?

For those running businesses in the food and beverage (F&B) scene, 2024 hit a record that wasn’t quite comforting.

Synopsis: The Usual Place host Natasha Ann Zachariah hunts for new perspectives on issues that matter to young people.

The F&B industry saw 3,047 closures – an almost-20-year record high. 

In spite of rising rental rates and food costs, many still want to give the F&B business a shot, as demonstrated by over 3,790 new eateries being opened in the same period last year. 

In an industry that is increasingly tougher to run, young business owners taking over their family business also have a challenge of future-proofing their business. 

To find out more about what’s it like to take over their family businesses, I speak with Mr Ernest Ting, 34, director at Swee Choon Tim Sum Restaurant, and Ms Maria Didih, 37, head of operations at Hjh Maimunah. 

For Ernest, a third-generation owner of a handmade dim sum business that was opened by his grandparents in 1962, that means taking a fresh approach to menu offerings and expanding the business.

Maria, a second-generation owner who runs the restaurant that makes kampung-style Malay dishes, sauces, and pastes business with her sisters, said that it’s about “being creative and keeping up with the times”, instead of solely banking on an established name.

As Ernest puts it: “It’s not the easiest to do. I think it’s getting even harder. I always tell new people who want to start F&B to ‘think twice’.” 

Highlights (click/tap above):

1:34 What these next-generation of F&B owners think about the high number of business closures

4:36 “Singaporeans really know how to eat, so our food better be of decent quality,” says Ernest

5:21 Social media may misrepresent the life – and stresses – of an F&B owner

8:22 Why did Maria and Ernest agree to join the family business?

11:27 Reservations about joining a business with strong legacy and reputation

16:03 How to get the older generation of owners and staff excited about their creative ideas

21:10 “We’re all custodians of Singapore’s food heritage,” says Ernest

34:30 A “compulsory thing”: Maria on how social media changed the way they do business

36:00 What if the next generation doesn’t want to take over the business?

Host: Natasha Zachariah (natashaz@sph.com.sg)

Read Natasha’s articles: https://str.sg/iSXm

Follow Natasha on her IG account and DM her your thoughts on this episode: https://str.sg/8Wav

Follow Natasha on LinkedIn: https://str.sg/v6DN

Filmed by: Studio+65 

ST Podcast producers: Teo Tong Kai & Eden Soh

Executive producer: Ernest Luis

Follow The Usual Place Podcast and get notified for new episode drops:

Channel: https://str.sg/5nfm

Apple Podcasts: https://str.sg/9ijX

Spotify: https://str.sg/cd2P

YouTube: https://str.sg/wEr7u

Feedback to: podcast@sph.com.sg

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All-in-one ST Podcasts channel: https://str.sg/wvz7

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#tup #tuptr

For those running businesses in the food and beverage (F&amp;B) scene, 2024 hit a record that wasn&rsquo;t quite comforting.
Synopsis: The Usual Place host Natasha Ann Zachariah hunts for new perspectives on issues that matter to young people.
The F&amp;B industry saw 3,047 closures &ndash; an almost-20-year record high.&nbsp;
In spite of rising rental rates and food costs, many still want to give the F&amp;B business a shot, as demonstrated by over 3,790 new eateries being opened in the same period last year.&nbsp;
In an industry that is increasingly tougher to run, young business owners taking over their family business also have a challenge of future-proofing their business.&nbsp;
To find out more about what&rsquo;s it like to take over their family businesses, I speak with Mr Ernest Ting, 34, director at Swee Choon Tim Sum Restaurant, and Ms Maria Didih, 37, head of operations at Hjh Maimunah.&nbsp;
For Ernest, a third-generation owner of a handmade dim sum business that was opened by his grandparents in 1962, that means taking a fresh approach to menu offerings and expanding the business.
Maria, a second-generation owner who runs the restaurant that makes kampung-style Malay dishes, sauces, and pastes business with her sisters, said that it&rsquo;s about &ldquo;being creative and keeping up with the times&rdquo;, instead of solely banking on an established name.
As Ernest puts it: &ldquo;It&rsquo;s not the easiest to do. I think it&rsquo;s getting even harder. I always tell new people who want to start F&amp;B to &lsquo;think twice&rsquo;.&rdquo;&nbsp;
Highlights (click/tap above):
1:34 What these next-generation of F&amp;B owners think about the high number of business closures
4:36 &ldquo;Singaporeans really know how to eat, so our food better be of decent quality,&rdquo; says Ernest
5:21 Social media may misrepresent the life &ndash; and stresses &ndash; of an F&amp;B owner
8:22 Why did Maria and Ernest agree to join the family business?
11:27 Reservations about joining a business with strong legacy and reputation
16:03 How to get the older generation of owners and staff excited about their creative ideas
21:10 &ldquo;We&rsquo;re all custodians of Singapore&rsquo;s food heritage,&rdquo; says Ernest
34:30 A &ldquo;compulsory thing&rdquo;: Maria on how social media changed the way they do business
36:00 What if the next generation doesn&rsquo;t want to take over the business?
Host: Natasha Zachariah (<a href="mailto:natashaz@sph.com.sg">natashaz@sph.com.sg</a>)
Read Natasha&rsquo;s articles: <a href="https://str.sg/iSXm">https://str.sg/iSXm</a>
Follow Natasha on her IG account and DM her your thoughts on this episode:&nbsp;<a href="https://str.sg/8Wav">https://str.sg/8Wav</a>
Follow Natasha on LinkedIn: <a href="https://str.sg/v6DN">https://str.sg/v6DN</a>
Filmed by: Studio+65&nbsp;
ST Podcast producers: Teo Tong Kai &amp; Eden Soh
Executive producer: Ernest Luis
Follow The Usual Place Podcast and get notified for new episode drops:
Channel: <a href="https://str.sg/5nfm">https://str.sg/5nfm</a>
Apple Podcasts: <a href="https://str.sg/9ijX">https://str.sg/9ijX</a>
Spotify: <a href="https://str.sg/cd2P">https://str.sg/cd2P</a>
YouTube: <a href="https://str.sg/wEr7u">https://str.sg/wEr7u</a>
Feedback to: <a href="mailto:podcast@sph.com.sg">podcast@sph.com.sg</a>
---
Follow more ST podcast channels:
All-in-one ST Podcasts channel: <a href="https://str.sg/wvz7">https://str.sg/wvz7</a>
ST Podcasts website: <a href="http://str.sg/stpodcasts">http://str.sg/stpodcasts</a>
ST Podcasts YouTube: <a href="https://str.sg/4Vwsa">https://str.sg/4Vwsa</a>
---
Get The Straits Times app, which has a dedicated podcast player section:
The App Store: <a href="https://str.sg/icyB">https://str.sg/icyB</a>
Google Play: <a href="https://str.sg/icyX">https://str.sg/icyX</a>
#tup #tuptr

Natasha and her guests unpack the latest current affairs, every Thursday.

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests. 

Podcaster: Natasha Ann Zachariah

Executive producers: Danson Cheong, Elizabeth Khor & Ernest Luis

Editorial producer: Lynda Hong

A podcast by The Straits Times, SPH Media

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests.&nbsp;
Podcaster: Natasha Ann Zachariah
Executive producers: Danson Cheong, Elizabeth Khor &amp; Ernest Luis
Editorial producer: Lynda Hong
A podcast by The Straits Times, SPH Media