Explainer: Why a coffee shop can be valued at S$31 million

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Here is a look at how other coffee shops have been valued:

A coffee shop in Hougang sold for S$23.8 million in 2013

Another coffee shop in Bukit Batok sold for S$31 million in 2015

Broadway bought all 23 of S11 coffee shops in 2018 for about S$200 million in 2018. This translates to about S$8.7 million for each coffee shop.

Kimly’s 72 coffee shops were priced at about S$284 million, which works out to about S$4 million per coffee shop.