He Transformed One Ice Cream Shop Into Four Different Income Streams In Singapore | Money Mind

Naresh's 34-year-old child already has something desired by many aspiring entrepreneurs. His own business, a ice cream shop in one of Singapore's largest malls. But as the business matured, he began to notice something impressive. The profit is not as enthusiastic as it used to be. He suddenly felt endangered, depending on a source of profit. My business profit in 2024 amounts to between 25% and 28%. However, it decreases to 6% in 2026. For Naresh, the answer is not starting a different business. It is about finding a new way to sell the same product. Today, what began as a single ice cream shop has grown into four distinct streams of profit. For Naresh, financial security is not just a business goal. Several years after the life-changing heart attack, it also became something deeply personal. But is there a difference that makes it closer? Naresh sells desserts, one of which is a Hungarian pastry served with ice cream. She launched her business in 2024 with a S$260,000 investment. More than AUD 200,000 For $260,000, 60% of it is my savings. And 40% is a trial loan from my family member. If I was willing to repay, they told me to use it for upgrading my business. The business has grown profitable. But as the infection spread, Naresh began seeking other sources of profit. If I realize that my profit margin is decreasing, I want to find a new profit stream. Therefore, I decided to open an ice cream kiosk. so that I can generate more profit for my business. However, another option that caught his attention was So, I've done some calculations and I feel that opening an ice cream kiosk at a shopping mall in Singapore It's almost as valuable as obtaining six soft embellishment machines. For nearly identical investments, Naresh can expand his business to various places. rather than relying on just one. I spent approximately $125,000 preparing my five soft finishing machines. That choice is not merely a cut, IA is flexibility. The machine can be placed in different locations. And if it is scattered, it can be moved. The goal is simple. building another stream of income without relying on a single exit route. That machine became the second source of profit. But they also created opportunities for even more. Since the business expanded, Naresh sold a machine. For sales, they pay $28,000 per unit. We sell supplies, cleaning, and their services. rather sales services. Today, more than 30 sales have Rolni machines scattered throughout Singapore. A larger network helps spread the cost of control. The sales network is worth approximately $6,000, However, one sales network may sell between 12 and 15 machines. So, if we have 15 or 30 machines, We can spread out that cost. The sales network becomes another stream of profit. Stream the latest profits, event rentals. What began as a business became four. Sales networks do not guarantee greater profits. but it can offer something equally valuable, protection, when circumstances do not proceed according to plan. That is something Naresh understands very well. In 2011, a motorcycle accident causing him to sustain spinal cord injury. Several years later, the complications from the injury causing him to be unable to be productive for nearly a year. At that time, he was not good enough to look for a job. However, the sacrifice does not end. That experience changed the way he thought about money. So, I want to be prepared for the same situation if it acts in the future. Many long-term medical expenses are not covered by insurance. That is why financial stability is particularly important to him. Naresh started his first soft-serve machine. nine months ago Not to mention he returned $125,000 Singapore dollars what he spent on the original machine. It will take approximately 16 to 24 months to be restored. However, the investment has revitalized the business. What began as a single light has become four. Although financial stability is still progressing well, Naresh believes he is moving closer. I don't think I have achieved financial stability. but I am a little closer.