Finance

From Late-Night Snacks to Mala Millions: How a 25-Year-Old Dearly Turned a Side Hustle into a $10 Million Empire

2025-04-26

Author: Jia

A Late-Night Culinary Launch

In Singapore, while most students were winding down at 10 PM, Lee Ray Sheng, a spirited 25-year-old, was just getting started at his Nanyang Technological University canteen stall, Raydy Beehoon. With a sizzling wok filled with garlic, bean sprouts, and soya sauce, he transformed a quiet hub into a buzzing late-night supper spot.

An Unexpected Success

Back in February 2020, the first night of sales saw him sell out 200 packets of his $3 supper set featuring fried beehoon, chicken wings, and eggs. Sales soared, and within weeks, he pocketed an astounding $70,000 in revenue.

From Big Dreams to Big Deliveries

What began as a humble beehoon stall quickly faced a challenge when COVID-19 struck. Instead of shutting down, Lee pivoted to Telegram-based deliveries and raked in $600,000 over two years. "It was madness—we cooked 30 kg of beehoon and cracked 500 eggs each night," he reminisces.

Survival and Resilience Amidst Tragedy

Entrepreneurship runs in Lee's veins; he is the second child of a sales engineer and a quality management consultant. At a tender age of 13, he raised $600 selling bubble tea for charity. A tragic event shaped his boldness—losing his younger brother to a rare immune disorder ignited a fierce desire in Lee to live without regrets.

The Next Culinary Chapter: Mala Madness

In 2020, spurred by a comment overheard on campus, Lee focused on mala, a beloved dish among students. With insufficient options on campus, he was determined to create a unique dining experience, leading him to a top mala chef who trained him after months of negotiation for just $888.

Building an Empire: The Birth of A Hot Hideout

With $40,000 saved from his beehoon venture, Lee and his partner Anran Ye opened A Hot Hideout, their mala restaurant at NTU. Despite its secluded location, word of mouth quickly spread, and on their first day, they made an impressive $1,000 before moving toward consistent profitability.

Sacrifices for Success

Juggling studies and a burgeoning restaurant empire meant long hours and late nights. Lee often survived on just five hours of sleep, prioritizing his business over social activities. By mid-2021, his efforts began to bear fruit, leading to the opening of a second location.

Scaling Up and Tackling Challenges

Transitioning to off-campus operations, Lee and his team handed out flyers to boost their presence while introducing non-spicy options for diverse customers. By 2022, A Hot Hideout had grown significantly, with a third outlet launched in Kinex mall, marking annual revenue close to $2 million.

Innovative Tech Solutions

Addressing employee turnover, Lee and Ye utilized their tech backgrounds to implement innovative self-ordering kiosks and kitchen management systems, enhancing service quality and efficiency.

A Bright Future Ahead

Moving forward, Lee boldly stepped away from a consulting career at McKinsey to focus entirely on A Hot Hideout. Plans are in motion for expansion, including a halal-certified offshoot targeting markets in Malaysia and Indonesia, plus the launch of a line of food products.

Leaving a Lasting Legacy

With ambitious goals to double revenue to $20 million by year's end, Lee shows no sign of looking back. He embodies success through authentic connections with customers, crafting memories, and building a food experience that resonates deeply with their lives.

As Lee penning his ongoing story, it’s clear that for him, this is just the beginning.