WHY HE SOLD HIS SHARE IN HIS FIRST HAWKER BUSINESS
Despite the successful launch of Qing Feng Yuan, Kek sold his share of the hawker business to his partner a year after opening. “It’s a small stall, so one boss will do,” he explained pragmatically in a mix of English and Mandarin.
Kek reveals that the business was profitable – they managed to recoup their investment within six months.
“For a small hawker stall, it’s difficult to support two bosses with high salaries,” he added. The pair had hired two staff to help, and as they reviewed their finances, they agreed this wasn’t sustainable.
The sale wasn’t due to any bad blood between the partners, he asserted. “We’re still good friends. We have had our arguments, but we don’t fight or get angry, we just find solutions.” In fact, his former business partner visited Kek’s new stall just hours before our interview, highlighting their continued friendship despite the business separation.
Rather than adjusting their partnership percentages or opening a second stall, they chose a clean break. “We decided to be straightforward, you buy me, or I buy you out,” said Kek. Since the hawker stall was under his partner’s name, Kek sold his share for around S$20,000, which included “equipment, recipes and everything there”, he told 8days.sg.
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