26 May '15, 11pm

Singapore cafe wave not a smooth ride for entrepreneurs

Singapore cafe wave not a smooth ride for entrepreneurs

Located in the quiet housing estate of Kovan in suburban Singapore, three-year-old Lola's Cafe enjoys bustling business. The 30-seat café, frequented by families, middle-aged women and young adults, was founded by 28-year-old Foo Choo Kiat and 26-year-old June Tan when they were college students at the Singapore Management University. Foo and Tan recouped their startup capital of 100,000 Singapore dollars ($75,720) within 6-8 months and are hoping to replicate the success in their second café outlet launched last year in the south-western residential enclave of Pasir Panjang. On The Table, which required a startup capital of 200,000 Singapore dollars, serves a more extensive menu including handmade ice cream. The story of Foo and Tan is part of a fast-growing cafe entrepreneurial scene in Singapore, underpinned by the so-called "third wave of coffee movement" or the apprec...

Full article: http://www.cnbc.com/id/102677636

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