Tan Xiang Yuan: The Rise and Fall of a Modern Chinese Restaurant
In a surprising turn of events, Mediacorp actor Ben Yeo has announced the closure of his high-end Chinese restaurant, Tan Xiang Yuan, following significant losses amounting to S$1 million. The decision to shut down the establishment came after two years of operation, leaving both Yeo and his partners at a crossroads.
Costly Mistakes and Challenging Circumstances
Yeo candidly admitted that one of the biggest missteps was overspending on renovations, which amounted to nearly S$800,000 out of the total S$1 million investment. The high initial costs coupled with operational challenges, such as a lack of parking and shelter in the Little India area, posed significant hurdles for the business.
Despite their best efforts to navigate the obstacles, Tan Xiang Yuan struggled to break even, with losses ranging from S$20,000 to S$40,000 per month during slower periods. Yeo and his partners had anticipated some of these issues but were caught off guard by the severity of the impact on their bottom line.
A Bittersweet Farewell and a Glimmer of Hope
The decision to close Tan Xiang Yuan was a tough one for the team, who had hoped to see the restaurant thrive in the competitive F&B landscape. However, as the curtains draw to a close on Feb 12, 2025, Yeo remains optimistic about the future.
While bidding farewell to Tan Xiang Yuan, Yeo hinted at the possibility of a comeback in a different form, perhaps as a private dining concept in a more manageable space. In the meantime, the focus will shift to expanding their Charcoal Fish Head Steamboat brand, with plans to open a new outlet in 2025.
As diners prepare to say goodbye to Tan Xiang Yuan, the legacy of this modern Chinese restaurant serves as a reminder of the highs and lows of the culinary world. While the closure marks the end of an era, it also paves the way for new beginnings and fresh opportunities in the ever-evolving landscape of Singapore’s vibrant food scene.