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Singapore - Popular roast meats eatery, Kay Lee at Upper Paya Lebar Road, is offering to sell its Cantonese roast recipes for $2m.
They are well-known for their crispy, caramelised Char Siew and roast ducks, both roasted to a distinctive brown using charcoal fire.
The owners, Betty Kong and her husband, have decided to sell their business as their children, who have successful careers of their own, are not keen to take over their 40-year business.
As age is catching up with them, they have decided to sell their business for $3.5million this year. The amount includes $2m for the recipes and the eatery's name, and $1.5m for the shop space.
The sale has attracted interest from potential buyers from Singapore as well as from Hong Kong, Taiwan and Indonesia.
It is understood that they are close to reaching a deal.
The couple are likely to spend a month training the new owner how to prepare their roasts and another two months to monitor the standard of the food.
The business began in Chinatown in the 1950s before it moved to a coffeeshop in the 1970s. As the business grew, it operated from a whole shop unit in Upper Paya Lebar.
Although the couple have had two 'disciple' cooks, they didn't pursue a business in roasting.
Anyway, Betty and her husband are believed to have made a good pile of money.
You can see the spiffy woman driving a limo to her shop each day. Then she would start her back-breaking job of chopping up every order of roast from late morning till evening.
