SF Group recorded double-digit topline growth last year, even though the pandemic halved the 40 per cent growth rate it had enjoyed over the last five years. So far, the F&B operator has not let the crisis get in the way of expansion plans, including opening two new Collin’s restaurants in 2020.
Group chief executive Collin Ho said: “Strategic planning is critical to the success of a business as it navigates the business cycle. While there were certainly challenges to be evaluated, concurrently, there were opportunities that allowed our company to spearhead the opening of our restaurants in Great World and Jurong Point last year.”
One key advantage was the company’s pivot to food-delivery before the circuit breaker. The subsequent growth in delivery sales helped to make up for loss in dine-in sales although the commissions paid to the food-delivery platforms were “considerable” – at 30 to 35 percent of revenues.
Leveraging the strength of its brands, customer loyalty and marketing support from landlords, SF Group quickly scaled up operations, marketing and digital marketing to drive online sales.
Government initiatives such as the Jobs Support Scheme and rent relief were also “instrumental in helping businesses like ours tide through the challenging period,” Mr Ho added.
SF Group plans to expand and launch four brands in Q2 this year, including opening the 13th Collin’s restaurant in Singapore. The group also plans to open a central kitchen 10 times larger than its existing facility.
“As consumer confidence is gradually regained through the implementation of the Covid-19 vaccination drive, we are hopeful this will help to steer the economic recovery, particularly in Singapore,” Mr Ho said.