Din Tai Fung is one of the successful cases of a F&B Establishment in Singapore. Various information such as the background of the organisation, brand, menu, estimated income and cost, marketing efforts will be furthered discuss in this report from a potential investor point of view.
1.1. Historical Background
Yang Bingyi was the founding father of Din Tai Fung, who was born in late 1920s in China’s Shanxi Province. He migrated to Taiwan as a young gentleman with hope of looking for better prospects. He started off his career as a deliveryman at a cooking oil store called Heng Tai Fung. Bingyi was later placed in charge of bookkeeping due the owner was impressed by his hardworking attitude. However, Bingyi lost his first job when the oil store was forced to cease operation, as the owner were having losses from other business on hand. He then decided to start up his own oil shop, by purchasing wholesales oil from Din Mei Oils. He named his store Din Tai Fung, in gratitude for all the help he received from his first boss at Heng Tai Fung.
However, the business did not go on well as price of tinned oil dropped significantly around early 1970s, which caused the sales at Din Tai Fung decreased tremendously. Bingyi and his wife decided to convert half of the store into a steamed dumplings eatery after much consideration…show more content… According to their financial report (2015), they managed to secure Asia’s ‘‘Top Brand’ in the Restaurant category by Influential Brands, as well as Best Chinese Restaurant at the AsiaOne People’s Choice Awards for three consecutive years since 2013. Not only that, the brand was also featured in Singapore Tatler’s Top Restaurant Guide over the past two years, secured a Gold award in Reader’s Digest Trusted Brands Asia, and was endorsed by Trip Advisor with the Certificate of Excellence for the fourth year