IndexIntroductionResearch and AnalysisConclusionIntroductionThe purpose of this report is to help and provide a brief business expansion perspective to Singaporean businesses who are planning to venture overseas in terms of showing them the various opportunities they might have or challenges they might face, as well as the tips and tricks for dealing with and solving them. Furthermore, this proposal includes the steps to take to achieve success, knowing that the right time to seize your opportunities are all carefully listed. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay This report highlights recommendations that ensure success for Singaporean companies venturing overseas, as well as an overview of our chosen Singapore-based company that already has an overseas branch. We will mainly focus on the top 3 key factors they might encounter when venturing abroad and the steps they should take or follow, the opportunities and challenges they might face and finally provide them with valuable advice to further improve their business or strategies that could be candidates for addressing potential challenges or problems. This report will not include the following: the company's network, how the company chooses to market its products through the various or different media platforms, and whether the local government provides any form of financial support to companies that want to venture out there. 'abroad. In this report, most of our secondary sources are obtained from reliable Internet reports found online, newspaper articles and academic journals such as Straits Times, TripAdvisor and Old Chang Kee's official website. Singapore companies are being encouraged by the government to venture abroad. SMEs receive government funding to help them grow their businesses. Having Singaporean companies venturing abroad not only helps companies overcome domestic market constraints as Singapore is relatively small compared to other countries. It is also important for companies to internationalize to access the global market, resources and expand their country as these companies will help increase the needs for services. By having more Singapore companies abroad, it will help Singapore become a value-creating economy. Research and Analysis Company Profile Started in 1956 as a small coffee shop stall near the then Rex Cinema along Mackenzie Road, Old Chang Kee quickly gained popularity among many Singaporeans. From all over the country, Singaporeans came to try the delicious curry puffs then known as "Rex Curry Puffs". As it was well-loved by many Singaporeans, Old Chang Kee began to grow as a company, with up to 80 outlets across Singapore. In 1993, Old Chang Kee has already expanded its business to Kuala Lumpur, Malaysia. In the following years they also began to expand to Australia and Indonesia. There are a total of 9 outlets in Australia, Indonesia and Malaysia. Old Chang Kee's Last Years Revenue Old Chang Kee's revenue for 2018 saw revenue increase to S$7.1 million by approximately 9.1%. revenue from new stores and increased revenue from existing stores they have. There are also other forms of revenue such as deliveries and catering services which led to an increase of around S$65,000 as demand for delivery and catering services increased. (tabular format)Number of stores abroadOld Chang Kee has about 9overseas outlets which are located in Australia, Indonesia, Malaysia respectively as these countries are closer to Singapore and may have the same taste of Singaporean food and will most likely support brand that has ventured abroad. Growth of Customer Base Recently, Old Chang Kee achieved “Halal” certification to cater to the Muslim community. Being "Halal" certified, it allows them to reach a larger group of people as Muslims will also be able to purchase their product and it will help them gain more customers and receive more revenue. Since the brand is halal certified, it means that it will cover a higher percentage of customers as due to their religion they cannot consume food that is not halal certified. Furthermore, by choosing other Asian countries to venture abroad, they have a similar taste that the locals will eat and accept the new product more and could support the brand's establishment there. Factor 1: Branding Singapore is a very respectable and well-established country across the world and therefore is well known among foreigners. Singapore is also subconsciously a brand itself, simply hearing the word "Singapore", most people will have the perspective that the products, goods or services sold are of high quality and must be really good. Especially in this case, a Singapore's local delight (Old Chang Kee), loved by many Singaporeans, is sold in a foreign land will arouse interest and curiosity among the locals living there, but also with the mentality that “Oh! It's from Singapore so it should taste great!” Old Chang Kee uses the color yellow as it is the brightest among all the colors in the spectrum. It is the color that catches our attention because it is very flashy and we notice it immediately when we see it. When we notice this, we will most likely look at what they are selling and perhaps purchase the items there. It also has a close resemblance to the golden brown color. Old Chang kee's official website contains information that allows the customer to learn more about the brand's history and marketing activities. Allow customers to know the latest promotion and learn about the new flavor unleashed. The name of old Chang Kee is easy to remember as old Chang Kee is a dialect which makes it easy for people to remember as they know how people in Asia speak dialect and the food is also Asian food which will satisfy the palate of Asians. Furthermore, over the years of trading, they have built a rather established and respectable position in the food and beverage industry. Through the production of the classic yet famous original curry puff, as well as the innovative creation of new curry puff flavors and a wide variety of other delicious fried snacks to choose from. The style of their outlets is simple and traditional, which is a representation of their historical background. Factor 2- Product Differentiation Products that are different in terms of tastes and outlook will be immediately recognized by locals as they are different from the food they eat in their country because the look, taste and way they are packaged are different from how the locals pack their things. For Old Chang Kee, they have different flavors of curry puff which differentiate them from the regular traditional curry puff that we will normally purchase. This will allow people from other countries to know about the brand because the food it offers to the consumer is different. It allows them to remember its unique flavor. Old Chang Kee curry puffs are different from Malaysian curry puffs in terms of flavors and ingredients used. While the traditional Malaysian curry puffs are made up of the typical 3-.