Business
You Shouldn’t Open a Cafe For Money Unless You Scale
By Dr Wealth  •  November 12, 2014
Woodshed Cafe

There seems to be a wave of cafe fever in Singapore. Just considering my neighbourhood, 4 cafes have sprouted within the past 2 years.

The curious me will always wonder what’s driving this cafe culture. First, I believe the standard of living has risen. Singaporeans are willing to fork out a price premium to sip coffee in a cool cafe as compared to a cheap fix at a kopitiam. We are buying an experience and not just coffee. Second, the younger generation are pretty westernised and the cafe culture is well embraced. Looking at teenagers spending their allowances at these cafes made my friends and me wondered why we hadn’t have the financial power to enjoy such coffee experience back in those days.

I love sitting at these cafes and just waste my afternoon away. The cafe owners probably couldn’t earn much from a cup of coffee and a slice of cake if I occupy a ...

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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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