S1E49: All in the family: What keeps these next-gen F&B owners cooking

The Straits Times Podcasts - A podcast by The Straits Times

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 ([email protected]) 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: [email protected] --- Follow more ST podcast channels: All-in-one ST Podcasts channel: https://str.sg/wvz7 ST Podcasts website: http://str.sg/stpodcasts ST Podcasts YouTube: https://str.sg/4Vwsa --- Get The Straits Times app, which has a dedicated podcast player section: The App Store: https://str.sg/icyB Google Play: https://str.sg/icyX #tup #tuptrSee omnystudio.com/listener for privacy information.