Ryan’s Grocery, Singapore’s only full-service organic butchery and allergen-friendly grocery, is a shining example of how personal challenges can blossom into meaningful business ventures. Founded by the husband and wife team of Sebastian Chia and Wendy Foo, the grocery store began with a simple yet pressing need: their eldest son, Ryan, faced severe food allergies and intolerances to gluten, dairy, nuts, soy, eggs, and yeast. Today, Ryan’s Grocery has become a lifeline for those seeking clean, organic, and allergen-free products.
However, the journey wasn’t straightforward. The couple first tried to source organic ingredients from Singapore stores, but frequently encountered items that were out of stock. “Eventually, we decided to just hand carry back what we needed whenever we were in Australia on holiday,” Wendy recalls. During these trips, they developed connections with farmers, which eventually inspired them to open Ryan’s Grocery in 2015.
Wendy and Sebastian never anticipated the business to expand the way it did. They opened a small shop in Binjai Park, but found running a business harder than they expected. “It took a year of planning before we opened a small shop in Binjai Park. But because we never intended for this to become a business, it was a tough learning curve for all of us,” says Sebastian. Despite the challenges, they were determined to carry out their mission to provide accessible allergen-friendly food.
Getting a Handle on Cashflow
One significant challenge for Ryan’s Grocery was managing cashflow while balancing payments to suppliers. The company had to pay suppliers upfront for products, but customer payments took longer to process, putting pressure on the business financially. In 2019, DBS stepped in to bridge this cash flow gap with a customised import trade facility, allowing the store to purchase goods without stressing its cash reserves.
This funding support helped Ryan’s Grocery address its cashflow woes and helped triple its revenue over the past five years. Wendy mentioned, “Through our DBS relationship manager, we learnt about many financing tools that were important for us.”
One of these tools included DBS MAX, an all-in-one payment platform ideal for both physical and online transactions. “Using DBS MAX for our retail payments has helped us run things smoothly. It’s a great solution that works for both our in-store and online store payments and it’s very hassle free,” explains Sebastian.
Focused on Sustainability
Ryan’s Grocery has always held strong values about food quality and sustainability. Working directly with farmers, some of whom employ regenerative farming techniques, is a key part of their commitment to the environment and their community
DBS has supported Ryan’s Grocery’s journey towards sustainability, guiding the business through ESG (environmental, social, governance) planning. As sustainability grows increasingly important to consumers and regulators, this support has become critical.
“After we worked together with DBS, we realised how focused on sustainability they are and that is important for us. Some of our clients have been asking us about our ESG plan and we are currently working towards it.” Sebastian says.
A Strong Partnership for Growth
Reflecting the robust partnership that has been forged between Ryan’s Grocery and DBS, the bank’s relationship manager regularly checks in on the team to understand and anticipate their needs. This proactive support has been instrumental in helping the business position itself for long-term growth as it seeks new avenues of revenue.
“We’re now producing our own smoked meats while also exploring Ready to Cook & Ready to Eat ranges. I always say that food can heal. And when I hear stories of how Ryan’s Grocery products have impacted my customers’ lives in a positive way, it really touches me and keeps me going,” says Wendy.
With DBS as a committed partner, Ryan’s Grocery is set to continue its mission of bringing quality, allergen-friendly, and organic products to Singapore’s growing community of health-conscious consumers.
Source: https://www.dbs.com.sg/sme/businessclass/insights/small-businesses-big-dreams-growing-an-organic-grocery-with-purpose
