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Rebuilding Foundations for Sustainable Growth
Rebuilding Foundations for Sustainable Growth
- Business Strategy Development
- Human Capital Consulting
- Financial Management
- Customer Strategy
Launched in 2020, Belly One operates a number of food kiosks, primarily focusing on food takeaway and delivery. In Singapore’s competitive food industry, the company has sustained growth through an emphasis on providing high-quality service.
Despite their commitment to quality, Belly One had a distinct lack of MVV statements. Because of this, employees did not have a clear direction, creating a lack of internal processes that the partners wanted to rectify.
Belly One also had concerns about cashflow, or the need for a strategy for cash flow management.
Furthermore, the company’s internal processes lacked a clear career progression track, including a review process and reward program, all of which hampered talent acquisition and retention.
Belly One also did not have a clear SOP guide for all its outlets, standardised for opening, operation and closing. Each was managed according to the outlet’s managerial experience.
In addition, apart from Halal certification, it did not have any other food related certifications that can enhance confidence from consumers.
Like all other F&B businesses, Belly One faced challenges of rising food costs and the need to maintain its prices to remain competitive. And there was also a need for the company to rebrand itself but lacked the marketing strategies to do so.
Business Strategy Development
Proposed Solutions for Enhancing Internal Processes
- SWOT and Ansoff Analysis was used for analysis and to develop strategies for the company.
Product Development
- Food Cost Analysis was conducted
- Calculations of actual food cost and ideal food cost so as to close the gap between the two.
- With the food cost analysis, the company can better manage its inventory to reduce the impact of raw material costs.
Strategic Planning
- MVV was developed with the key personnel
- We sought to grow the company with the Three Horizons of Growth of maintaining and defending core business, nurturing emerging business, and creating genuinely new businesses.
- Increase sales and market share by expanding product and investing into new products or companies that can compliment the current business model, both local and regional.
Human Capital Consulting
- Employer Value Proposition (EVP) for current employees and potential job applicants.
- Reward and recognise employee’s achievement
- Using KPIs as the basis for compensation and rewards
- Standardised HR processes was proposed
- SOP for outlet opening, operation and closing was developed
Financial Management
- Accounts Receivables and Account Payables were reviewed and the strategy was to align these two together to time manage the collections and payables.
- The understanding of proper cash management, tracking of weekly sales and forecast was proposed.
Customer Strategy
- Building awareness and establishing community through rebranding and digital marketing.
- Successfully matched competitors in pricing and introduced innovative products not available from competitors.
- Improved employee productivity, significantly reducing operational costs.
- Conducted thorough food cost analysis, leading to better inventory control and revenue enhancements.
- Achieving a 5% reduction in food costs, will result in a profit margin increase of up to 58%.
- Revenue projected to from $1.4 million in 2024 to $1.8 million in 2025, and $2 million by 2026.
- EBITDA saw a growth from $155K in 2024 to $200K in 2025, and is expected to rise to $270K by 2026.