It really depends on what your concept is. Being unique is not enough to get success. Food courts are highly competitive and for me personally, many will not try out a new restaurant unless it has an existing reputation outside of Hong Kong (like a franchise).
Wish you luck, the sad reality is that you shouldn't be looking at opening up any kind of restaurant at this moment of time because of the uncertainties.
What kind of Western food are you thinking of? Is it something that can be trendy like burgers or soufflé pancakes?
I know nothing about the F&B industry.. just curious. It does sound like a crazy idea, but I do have a friend who made his dream a reality to run a small cafe. He's somehow meticulously managed to survive...
There is a new hotdog pop up selling proper western style hot dogs doing huge business in causeway bay right now .
Not really a real western taste probably a bit too fusion actually : they have an amazing blue cheese dog which they totally ruin with a cheese Whiz type sauce all over it despite ask them not to do that : anyway locals seem to love sweetish cheez whiz over everything so they have plenty of custom but lost mine.
Point is seems you have the right product and the right sale model you can hit it big for a while at least :
Awesome hot dogs : potato gems I'll visit your cafe !
like people have said, getting an investment/business visa is not easy. It takes around 4 months from what I was told. I have heard some accounting firms bypass it by "hiring" you so you get employment visa, and work on your business. But since it's an accounting firm you will need financial skills to justify getting the visa.
For the rent, is the food court part of a mall? Because then you will get murdered by the rent. They will do a turnover rent, like 10-25% of your revenue (even if you don't make profit), you will have to audit your account to prove how much you make. Can't remember if you pay the turnover rent on top of your original rent, or if you pay whichever is higher. These practices are banned in most developed countries, but hey it's Asia World City!
Their contracts are a massive pain in the ass, so many restrictions and hidden fees. For example you will pay the electricity, and then a fee for the aircon, we were paying like 8k for 2000 sqft office.
I know a few people who got work visa from friends who owned their own companies and ran their own business. That is not very legal but honestly immigration does not give a crap.
I would the only good point is that rents should be lower but if you want to run your own thing you will need 6-12 cash flow minimum.
Most retail leases are for initial term of 2-3 years, the “option to renew” extends this term for an agreed time and amount. If you don’t negotiate now, Landlord’s can often double your rent if they see you are doing well. It’s optional, you only extend if the business is doing well or you leave after the fixed term.
Last edited by ArrynField; 16-12-2020 at 12:21 PM.