A broken F&B model and Hit Refresh’s bid to reset it with freshpod kiosks

[SINGAPORE] After investing in various F&B outlets in Malaysia, former investment banker Stephen Dunstan came to a stark conclusion: The industry’s economics no longer worked.

He realised that most establishments were busy only during peak meal periods, with fairly little activity for the rest of the day. And yet, operators still had to bear fixed costs such as rental and manpower, even as demand remained highly variable.

“If you could (fully) utilise the space for 12 or 16 hours a day, then it makes sense,” said Dunstan, a Singapore permanent resident from Malaysia.