My membership fee was charged on Oct. The fee is around $200. I spent quote regularly using the card.
I have applied for waiver previously and it was approved.
To apply for a waiver, call the UOB personal banking number at 18002222121. This is an automated call management system. From the selections, you will be directed to credit card waiver. It will ask for your credit card number followed by hash key. It will ask for your phone number followed by hash key. The automated voice will inform you that your application will be reviewed.
Study on the above topic will help most hawkers. For example, cost components for average hawker stall and other information conducted by Ministry of Trade and Industry (MTI) is important (ref. 1).
It suggested that raw material played the most cost for average hawkers, whereas rental contributed about 12% and utility at 9.3% (both at 21.3%).
As mentioned previously, the average cost of rental is $1500 with a range of $5 to $5000 (as offered bids; ref. 2). If a business operates daily without rest, then this translates to $1500/30=$50 per day from rental. Assume 12% rental cost is true, then total cost is $50/0.12 = $416. If daily total cost is true, then the cost of utility and rental would be $416 * 0.21 = $87.36. If raw material is approximately 60%, the cost is $416 * 0.6 = $250. Daily, a hawker would be spending $337.36. The rest is manpower and other service fees at approximately 20% (which is variable, because manpower could be business owner’s fixed salary and other service fees are variable).
To break-even, a business needs to achieve $337.36. If a bowl of product is $3, then the business owner needs 113 bowls per day. Subsequent bowls would be operating profit.
If I am to start a business in a location selling a dish, I will first determine the following:
Average footfall in the location per day (and especially compared during weekends)
Average peak time per day in hour.
Number of competitors
Average price of similar product around the location
Type of customers, e.g. workers, students, or other market segment.
Other marketing strategies.
Operations consideration, e.g. storage, freezers, footprint (sqm), process area (or kitchen), payment method (cash or cashless), and stall service provider (their efficiency), stall hygiene level (study the NEA awarded hygiene level, should be above Silver level; ref. 3)