$50,000 cost for Geylang Serai Ramadan Bazaar stall: Let's Pretzel owner 'just trying to break even'

[The_King]

 

 

 

After a two-year absence due to Covid-19, the highly-anticipated Geylang Serai Ramadan Bazaar opened to much fanfare on April 2.

The bazaar may be ready for Singaporeans, but are Singaporeans ready for the bazaar?

More from AsiaOneRead the condensed version of this story, and other top stories with NewsLite.

A TikTok video posted by one stall owner at the Geylang Bazaar seemed to indicate a lack of crowds at the pasar malam, officially known as the Geylang Serai Hari Raya Shopping Experience. 

The founder of Let's Pretzel posted the video on Thursday (April 21), with a caption which stated, "Honestly just trying to at least break even for this Geylang Bazaar."

The clip, taken by stall-holder Regine Sum, included the text, "How did you spend SGD 50,000+ in two weeks?!" It also captured a split-second clip of the sparse crowd at one of the lanes in the bazaar.

 

@letspretzelsg Honestly just trying to at least break even for this Geylang Bazaar. D-10 days 😢 #geylangbazaar #ramadan2022 #fyp #sgtiktok ♬ Big And Chunky - Juan Torres 🤠

According to a press release sent to the media about a week after the stall opened on April 8, Let's Pretzel is a solo concept started by 25-year-old Regine, who's also one of the co-founders behind confectionery chain Nasty Cookie.

Specialising in pretzels, the stall offers both savoury and dessert pretzels priced at $6 each, with flavours such as Sour Cream N Chips, Ondeh Ondeh, and Pepperoni and Cheese.

In the comments section of the TikTok video, Regine explained that the $50,000 covered the entire set-up cost, including "rental, sink fee, electricity fee, food equipments, booth set up, packaging and logistics" as well as "15 days worth of manpower cost".

The comments drew both messages of encouragement as well as criticism that it was a poor business decision.

When contacted by AsiaOne, Regine shared that her stall had opened a week later than others because the management had only contacted her about the available stall "at the last minute".

"We missed the initial crowd and media coverage because of this," said Regine, who shares she has been working at the stall every day since it opened.

She added that she had "only three days to set up everything", and the urgency also contributed to higher costs. 

However, Regine said that she had been confident going in as she believed in her product. Friends who had been involved in the bazaar previously also shared that their takings "could hit above $100,000" pre-Covid. There was also an expectation that sales would be higher, given that there are "fewer stalls and less competition".

However, Regine noted in her reply to commenters on TikTok that the "situation now is totally different and shocking".

She shared with AsiaOne that she's recouped close to $30,000 of her investment so far, and daily sales average "about $2,000 to $2,400", which is why she only hopes to break even by the end of the bazaar.

 

 

She speculated that the recent rainy weather and crowd control measures put in place by the management could also have been contributing factors to the low foot traffic.

"The management will stop people from coming in at 10.30pm," said Regine. This is despite the bazaar's official 11pm closing time.

However, she acknowledged that "one or two" popular stalls at the bazaar still see queues, but even these stalls experience lulls as things are "super unpredictable".

Some other stallholders have shared with her that they too are facing the same struggle. One vendor even tried to engage an emcee to attract more crowds, but to no avail, she said. 

Regine is also not confident that sales will pick up as "the crowd is already dropping off this week". The Ramadan bazaar will wrap up in 10 days with the last day of operation on May 2, just before Hari Raya which falls on May 3.

[The_King]

i hope Bazaar failed.

there no way i paying overprice food, just to help the stall owner over their rent

[Londonchocolateroll]

6 hours ago, The_King said:

i hope Bazaar failed.

there no way i paying overprice food, just to help the stall owner over their rent

 

Why so cek ark? You already know it is due to the rent so if you are unwilling to pay then you let others who are willing to pay lor. At the end of the day, everyone is also trying to make a living

[The_King]

8 hours ago, Londonchocolateroll said:

 

Why so cek ark? You already know it is due to the rent so if you are unwilling to pay then you let others who are willing to pay lor. At the end of the day, everyone is also trying to make a living

You mean the operator earn easy money gao gao the rest work super hard to make a living

[socrates469bc]

really is bodoh until tak ubat boleh meyembuhkan liao.

 

limpeh alrdy foresee this scenario liao.

 

wahahahahahahahaha

 

On 4/6/2022 at 5:29 PM, socrates469bc said:

PA really is bodoh until limpeh tak boleh cakap apa-apa.

 

 

[The_King]

8 minutes ago, socrates469bc said:

really is bodoh until tak ubat boleh meyembuhkan liao.

 

limpeh alrdy foresee this scenario liao.

 

wahahahahahahahaha

 

 

a lot of them sell online already,

 

i go SSRR on those quiet building to record video for my YT.  i can see many have either a small or small central kitchen busy making Hari Raya cookies. so no surpise many are selling online without a physical store. i sure many are at home busy make those cookies then sell online

 

BTW those empty building smell nice yummy smell.

 

only DKGK still need a physical store

[socrates469bc]

Just now, The_King said:

a lot of them sell online already,

 

i go SSRR on those quiet building to record video for my YT.  i can see many have either a small or small central kitchen busy making Hari Raya cookies. so no surpise many are selling online without a physical store. i sure many are at home busy make those cookies then sell online

 

BTW those empty building smell nice yummy smell.

 

only DKGK still need a physical store

 

a popular mo now is use pop-up concept together with selling online.

 

a malay guy i know is doing it this way and apparently, it is quite profitable.

 

most likely he will also be doing it for cny as well with some menu changes of pineapple tarts instead of choc chip cookies.

[Bigbird]

This type is really set up themself to fail!

 

But i'm not surprise that she may just breakeven or profit a bit, because Sg really really alot of super 61% KGK!  

 

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[The_King]

2 minutes ago, socrates469bc said:

 

a popular mo now is use pop-up concept together with selling online.

 

a malay guy i know is doing it this way and apparently, it is quite profitable.

 

most likely he will also be doing it for cny as well with some menu changes of pineapple tarts instead of choc chip cookies.

it the country itself trying to destroy itself. many still failed to see, thing are so expensive shop will be a thing of past

 

i cant wait to for gst to hit 8% then 9%. thing will get even more expensive.

 

my boomer believe this kopi price by CNA at 0.24sec onwards

 

 

 

kopi is $1.07 and GST hike to 9%  mean $1.09. i told them them the whole supply chain, all no need pay GST?

 

 

 

 

anyway my stockpile is at 90% there nothing of forever food i will need to stockpile anymore. i have enough for on average 20yr supply.

 

if i got my own home, i already start to home canning on gee, chicken, egg, flour, rice, itay noodles etc......

[socrates469bc]

6 minutes ago, Bigbird said:

This type is really set up themself to fail!

 

But i'm not surprise that she may just breakeven or profit a bit, because Sg really really alot of super 61% KGK!  

 

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when 70% of the population goes festive shopping online, how much is spent in physical shops??????

 

thats why this malay friend of mine is doing a ghost kitchen type operation.

 

just 1 central bakery, a online shopee/lazada account and a few pop-up carts to drum up brand awareness.

 

the best part is he can easily adjust his branding, menu and locations to suit different festivals with minimal fixed rentals. 

[socrates469bc]

9 minutes ago, The_King said:

it the country itself trying to destroy itself. many still failed to see, thing are so expensive shop will be a thing of past

 

i cant wait to for gst to hit 8% then 9%. thing will get even more expensive.

 

my boomer believe this kopi price by CNA at 0.24sec onwards

 

 

 

kopi is $1.07 and GST hike to 9%  mean $1.09. i told them them the whole supply chain, all no need pay GST?

 

 

 

 

anyway my stockpile is at 90% there nothing of forever food i will need to stockpile anymore. i have enough for on average 20yr supply.

 

if i got my own home, i already start to home canning on gee, chicken, egg, flour, rice, itay noodles etc......

 

kor kor is too optimistic liao.

 

if inflation no 4.5% for the next 4 yrs, then limpeh worry.

 

wahahahahahahahaha

 

[The_King]

5 minutes ago, socrates469bc said:

 

when 70% of the population goes festive shopping online, how much is spent in physical shops??????

 

thats why this malay friend of mine is doing a ghost kitchen type operation.

 

just 1 central bakery, a online shopee/lazada account and a few pop-up carts to drum up brand awareness.

 

the best part is he can easily adjust his branding, menu and locations to suit different festivals with minimal fixed rentals. 

sooner or later they will kena fixed. it just that they are very slow and blur as always.but  after GE 2025 is a good time to pwn them

[The_King]

5 minutes ago, socrates469bc said:

 

kor kor is too optimistic liao.

 

if inflation no 4.5% for the next 4 yrs, then limpeh worry.

 

wahahahahahahahaha

 

my saving is calculated with inflation at 10%. to last 30yr and will start on Aug 2021 to withdrawn monthly to use  but now already  april 2022 and still not using it (cause home not here and still working), so all these are surplus to add inflation at 15%.

 

muhahahaha

Edited April 24, 2022 by The_King

[socrates469bc]

3 minutes ago, The_King said:

my saving is calculated with inflation at 10%. to last 30yr and will start on Aug 2021 to withdrawn monthly to use  but now already  april 2022 and still not using it (cause home not here and still working), so all these are surplus to add inflation at 15%.

 

muhahahaha

 

kor kor jin cautious.

 

shld use the money to trade this stock and few others at rite timing.

 

then confirm can beat inflation liao.

 

btw, towkay me took cash and not scrip for the past 2 yrs.

 

wahahahahahahahahaa

 

[The_King]

5 minutes ago, socrates469bc said:

 

kor kor jin cautious.

 

shld use the money to trade this stock and few others at rite timing.

 

then confirm can beat inflation liao.

 

btw, towkay me took cash and not scrip for the past 2 yrs.

 

wahahahahahahahahaa

 

DKGK like me know nothing about stock. i am like a fish in this tank

 

 

so

 

 

 

 

me more of homestead, prepper, SHTF etc....

 

 

 

[Bigbird]

In reality, this GST is a multiple level taxation revenue!

 

Case: just 1  item eg $100 & assuming w/o profit for easy calculation.

1. Importer pays 7% = $107

2. Supplier pays 7% = $114.49

3. last mile shop 7% = $122.50

4. Consumer  7% = $131.08 

 

From importer till consumer assuming 4 levels GST is charged just for 1 item,  $75.07 pocketed.

 

More change of hands  more GST revenue just for 1 physical item!   

 

@socrates469bc  IS my modelling correct & this is how GST is charge?  

[The_King]

2 minutes ago, Bigbird said:

In reality, this GST is a multiple level taxation revenue!

 

Case: just 1  item eg $100 & assuming w/o profit for easy calculation.

1. Importer pays 7% = $107

2. Supplier pays 7% = $114.49

3. last mile shop 7% = $122.50

4. Consumer  7% = $131.08 

 

From importer till consumer assuming 4 levels GST is charged just for 1 item,  $75.07 pocketed.

 

More change of hands  more GST revenue just for 1 physical item!   

 

@socrates469bc  IS my modelling correct & this is how GST is charge?  

 

i am sure most of us will disagree with you

 

my proof

 

[The_King]

7 minutes ago, Bigbird said:

In reality, this GST is a multiple level taxation revenue!

 

Case: just 1  item eg $100 & assuming w/o profit for easy calculation.

1. Importer pays 7% = $107

2. Supplier pays 7% = $114.49

3. last mile shop 7% = $122.50

4. Consumer  7% = $131.08 

 

From importer till consumer assuming 4 levels GST is charged just for 1 item,  $75.07 pocketed.

 

More change of hands  more GST revenue just for 1 physical item!   

 

@socrates469bc  IS my modelling correct & this is how GST is charge?  

that why i want to change all my boomer home big ticket item before end of the end.

 

but own home also not ready, confirm kena alot but i knew n what to buy before yr end (will start to hoot in sep) before next yr online gst for item below 400

[socrates469bc]

4 minutes ago, Bigbird said:

In reality, this GST is a multiple level taxation revenue!

 

Case: just 1  item eg $100 & assuming w/o profit for easy calculation.

1. Importer pays 7% = $107

2. Supplier pays 7% = $114.49

3. last mile shop 7% = $122.50

4. Consumer  7% = $131.08 

 

From importer till consumer assuming 4 levels GST is charged just for 1 item,  $75.07 pocketed.

 

More change of hands  more GST revenue just for 1 physical item!   

 

@socrates469bc  IS my modelling correct & this is how GST is charge?  

 

1 and 2 r the same, so there r only 3 players in the transaction.

 

importer/supplier, retail and consumer.

 

so consumer is paying sgd122.5 at the end of the day.

 

only precious metals importation has gst exemption while imports of most goods, even medical devices will have gst once it is sold into the domestic market.

[Bigbird]

16 minutes ago, The_King said:

 

i am sure most of us will disagree with you

 

my proof

 

 

"UnLucky" My chinese is poor!!!

 

Otherwise i will KNN!

[Bigbird]

6 minutes ago, socrates469bc said:

 

1 and 2 r the same, so there r only 3 players in the transaction.

 

importer/supplier, retail and consumer.

 

so consumer is paying sgd122.5 at the end of the day.

 

only precious metals importation has gst exemption while imports of most goods, even medical devices will have gst once it is sold into the domestic market.

 

Our famous CUTN with 120+ stores, selling price margin is ~200-300%.  

 

Consumer pays GST song song to Zoolong!