Home-grown SME Harry's Holdings, which raked in a record high of $2 million in revenue last month, is expanding overseas.
Buoyed by its upsurge in business, it has raised its growth target by 30 per cent for the full year, to between $26 million and $28 million in turnover.
It is also planning to add another 30 outlets in Singapore within a year, and also looking at opening its first bar in Kuala Lumpur in the first quarter of next year.
"This could be followed by opening Harry's bars in Hong Kong and India some time later next year,'' says Mr Mohan Mulani, 47, the dynamic chief executive of Harry's Holdings in an interview with AsiaOne.
As part of its overseas expansion, he says the company may even consider listing on the Stock Exchange of Singapore (SGX) to raise money to finance its overseas venture.
Mohan, as he is known in the food and entertainment (F&B) business here, is emerging as the new king of the bar business in Singapore.
Harry's rapid expansion in recent years has indeed surprised many people as it had been a single pub enterprise for a long time. The flagship Harry's bar in Boat Quay still continues to be highly popular with expats and locals alike.
Mohan says that Harry's has come to be recognised as a brand that offers a unique cosmopolitan concept.
"Since 1992, Harry's has established ourself as a leading operator of premium bars, restaurants and other businesses in Singapore. At Harry's, we place a special emphasis on consistent market branding and quality customer service. In Singapore and indeed, in many other countries, Harry's is famed for these two qualities and our live music entertainment."
When he first ploughed in some $300,000 into the business, Mohan says he did not think Harry's would grow into what it is today.
"There was no grand plan to have a chain of bars and restaurants when I first invested in Harry's," he tells AsiaOne.
A year later, he bought out the other partners in the venture and became its sole owner. But even then Harry's was still a pure investment for him, as he left it to the bar's professional team lead by a Scot woman to run the business. He kept himself busy with his other investment and trading activities.
Then came the 1997 Asian financial crisis, which took a toll on Mohan's investment businesses which had a regional exposure, including in Thailand and Malaysia.
With his businesses badly hit, Mohan left for the United States in August 2001, taking his wife and daughter along, to start afresh.
Barely had his family settled into their new home in America, a second blow hit them - when Sept 11 erupted, dashing Mohan's business dreams again. In August 2002, the family moved back to Singapore.
Mohan saw opportunities in the bar and restaurant and decided to give it another shot.
The second Harry's bar in Singapore opened in January 2003 at the Esplanade, and there was no looking back since.
Today Harry's owns and operates 23 premium lifestyle bars and restaurants in key locations targeting customers, who are mostly professionals, corporate executives and businessmen.
Two more new Harry's owned outlets will open their doors soon.
Mohan says he is eyeing another six new ventures, including at Changi Airport's Terminal 3 and the Integrated Resorts, and going overseas."The appeal of Harry's is simple - we offer a unique cosmopolitan concept that combines strong and consistent branding of our outlets, live music acts and top quality service,'' says Mohan.
He attributes Harry's success to its strong branding, location of the outlets and the product itself.
Almost all the outlets have a consistent look and fee. "The moment you walk into any of our outlets, you know it is Harry's,'' says Mohan.
The common features of Harry's bars are the murals on the walls, a stage and music instruments and the bar set-up.
"We have an outsourced team who has been doing all the new outlets for us as they understand us well and know what we want,'' says Mohan.
The bar and food menu is also fairly standardised across all the Harry's outlets.
As Harry's is basically a bar, 80 per cent of the revenue comes from drinks sales, with food making up the rest.
Not too well known is the fact that seven of Harry's Holdings businesses are not bars. These include Harry's Mexican Restaurant & Bar, Harry's Steakhouse, Marrakesh and Mirchi.
Similarly, the next venture to be unveiled soon is not a bar. Called the "Rupee Room'', it will be a London-Indian style club for expatriate Indians.
While diversifying, Harry's bars will remain the thrust of the company, says Mohan.
Harry's financial numbers look good. Last year the company hit a turnover of $20 million in sales and achieved a net profit of $1.5 million, which was nearly double the $800,000 which the company made in 2005 on a turnover of $14 million.
"The Singapore economy is very robust. We see good business growth ahead as people are spending more on F&B," says Mohan.
In addition to its chain of lifestyle bars and restaurants, Harry's also operates a children's play and music business called Gymboree Play and Music Programme, which is managed by Mohan's wife.
Things are looking up again for the twice-beaten Mohan. Instead of giving up when the going got rough, this determined enterpreneur has been able to survive the rough patch with his never-say-die attitude and drive.
