A small or big investment in an F&B business in Hong Kong may or may not be a good idea.

By HK Lawyer AJ Halkes Barrister-at-Law

AJ Halkes
December 1, 2025
12:11 am

One of the most visible and exciting openings in Hong Kong’s F&B scene (back in the day!) came with an incredible buzz, followed by an equally fascinating decline. The multi-shareholder “BBs,” which I mentioned in a previous post, actually occupied a site in Wan Chai that later became Coyote, if my memory serves me correctly. Which lasted over 20 years, becoming an icon, the story of which (and it’s still empty) is another tale in itself.

Investors in BBs were drawn in by what seemed like an easy, affordable opportunity to take a small share in the next big thing. It was trendy, it was cool, and it really looked positive. Until it wasn’t. Eventually, it unravelled and closed. The exact reasons behind that implosion aren’t something I can really discuss, but the truth is it was a strong concept for its time, in a thriving location, and full of energy. Yet that doesn’t always translate into a solid long-term investment.

Another entrepreneur, who came over from Australia, opened a spectacular outlet in Kinwick Centre. The food was fantastic, the service was top-notch, and the concept had all the right ingredients for success. But it didn’t finally quite work out as planned. Again, there’s no need to get into the details. The point is, in F&B, even with what looks like all the right pieces in place, and a good start, not everything goes the way people hope; the wheels can and do come off.

Still, in examples where things didn’t last, the time it took for investors to lose their money was longer, and arguably far more enjoyable, than a punt on a horse at Happy Valley.

And if you’d backed Coyote, you chose a winner for a long time!

hashtagHongKong hashtagFNB hashtagBusinessStrategy hashtagInvestHK hashtagEntrepreneurship hashtagHospitalityIndustry hashtagWanChai hashtagLeadership hashtagInvesting hashtagLessonsLearned hashtagCoyoteHongKong hashtagBoozeBusiness
If you need specific input regarding a strategic Hong Kong challenge or related legal matters in the HKSAR, you can always DM me and check out my profile at https://www.ajhalkes.com

A small or big investment in an F&B business in Hong Kong may or may not be a good idea.

By HK Lawyer AJ Halkes Barrister-at-Law

Confidence in F&B is flooding back to Central and Wyndham Street is leading the charge.

The Boston Steakhouse in Wan Chai is a survivor!

The terror of AI is that it can sound absolutely certain while inventing something that never existed

Were Hong Kong’s dog friendly F&B guidelines written by dogs?

Home to the International Organization for Mediation in Hong Kong

Ride hailing, supply and demand, Uber and Hong Kong, something is still very wrong

Hong Kong is coming back as a concert stop as Kraftwerk just showed

What is an amazing .com domain name worth?

Construction is under way at Dragon-i that was part of our lives for years

The government has imposed standards on protective netting around occupied residential properties

When water is basically free and all F&B outlets have a filtration system – why charge?

Suffering long term COVID effects is very real for some businesses

Hire the right influencers, create the right buzz, and it seems you can now sell almost anything

So Hong Kong is lucky, here comes Luckin Coffee

Not near the mid-levels HK escalator, you’ll struggle running a business in HK (SoHo)

AJ Halkes appointed to the eBRAM Panel of Mediators in HK