Engineer-turned-hawker Khoo Keat Hwee, 38, has closed all branches of his Japanese food stall chain Mentai-Ya following financial losses of $550,000 over two years.
Last month, Mentai-Ya had reduced operations from eight outlets to three locations in Bukit Panjang, Punggol, and Tampines. The chain recently announced on social media its complete shutdown with the message, “We tried our best but still failed.”
Khoo operated eight food stalls across Singapore in Bukit Panjang, Toa Payoh, Serangoon Central, Clementi, Boon Keng, Tampines, Punggol, and Sengkang. He also ran two cafes – Coffee & Chirashi in Choa Chu Kang and Chirashi-Ai in AMK Hub.
“Coffee & Chirashi alone caused me to lose S$250,000. In total, I’ve lost S$550,000,” Khoo told Shin Min Daily News.
The business faced mounting challenges after registering for GST in mid-2022. In 2023, Khoo increased food prices by S$1 due to rising costs in ingredients, manpower, and rent. The price of Mentai Don increased from S$8.90 to S$9.90, resulting in a 20% to 30% customer loss.
In January 2024, Khoo reduced the Mentai Don price to S$8.50 to attract more customers. Despite increased orders, profits fell significantly, making some locations unsustainable.
Although the final three outlets were profitable, Khoo closed them on April 8 due to previous accumulated losses. The closure was sudden, with staff informed they would receive compensation.
Khoo currently has debts of S$550,000 and plans to “reset, recover, and restart” before attempting entrepreneurship again. He maintains his goal of providing affordable meals to the public and is willing to share his experiences with other food business owners.
