CLOSED

Katsu & curry house opened · CLOSED after 3 yr 1 mo

Hoàng Thanh Tùng, 31 · 3 yr 1 mo

“Rejected for loans 6 times. The bank knew before I did.”

I closed after 3 years and 1 month. What remained was ₫306,453,217 in debt and 7 regulars.

On the last day, you sat in front of the register. Cash ₫10,571,737, debt ₫306,453,217, 0 employees, 66 customers. You did the last count alone and pulled down the shutter. The business failed, but that time did not disappear.

How it went

1. 2026 · preparing to openHoàng Thanh Tùng, 28. You have decided to try starting a company in Other provinces (Can Tho, Mekong Delta, etc.). No idea, no product yet. Savings ₫772,647,915, employed (₫11,813,773 a month).
2. 9/2026: what now?Start a business: «Katsu & curry house» — You are going with «Katsu & curry house». Next: a location and people.
3. Where to start, and with whatCheap rent down an alley — The rent is low, but customers take time to find you. You chose word of mouth instead of a sign.
4. Who opens the doors with you?Part-timers for the rush hours only — Two students took turns. Both told you their exam weeks in advance. You were grateful.
5. 2026 · year 1 beginsUS Rates Rose Again
6. 9/24 · Hygiene inspection noticeWord went round that a shop on your street was fined at inspection. You redid the kitchen cleaning rota.
7. An insurance agent dropped byOnly the compulsory cover — The bare minimum. The rest is luck.
8. 10/29 · Records requested by the tax officetax office (Chi cục Thuế) requested records for VietQR and MoMo sales and cash sales. You opened the books again.
9. 11/12 · Heavy rainHeavy rain cut the foot traffic to nothing. Two reservations cancelled.
10. 11/24 · Oil reached the cost baseBrent rose to $132 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
11. Stay a business household or set up a companyStay a business household — You put the notice in the drawer. This year stays as it is. Only now that sheet is the first thing you see every time you open it.
12. 1/11 · FamilyYour family packed you lunch. The note said, “Eat properly.”
13. The “₫140,000,000 a month or your money back” courseBlock the ad — You block it and another account posts the same ad. The money is still in your account.
14. 3/9 · Supplier price increaseThe supplier said prices go up 4% from the next order. You need to find another supplier.
15. 4/15 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
16. 5/22 · An employee quitAn employee said this month would be their last. The big store down the road pays more an hour.
17. A gap opened in the rotaMake an urgent replacement hire — The recruiting fee was spent, but no suitable candidate was found.
18. 6/11 · Oil reached the cost baseBrent rose to $132 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
19. 6/22 · Records requested by the tax officetax office (Chi cục Thuế) requested records for VietQR and MoMo sales and cash sales. You opened the books again.
20. 7/20 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
21. 8/6 · More regularsYou now know more than ten customers by name, and you catch yourself asking, “The usual?”
22. Start selling live on TikTok Shop?Skip it — Your nephew shrugged and folded the tripod. The shop opened and closed as usual. Quiet days followed.
23. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the VND/USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
24. Year 1 closeRevenue ₫65,451,120, loss ₫137,000,717. Cash ₫230,706,946.
25. 2027 · year 2 beginsPrices and fuel costs jump at once · Regulars Appeared
26. 10/15 · Street festivalA festival opened nearby. Foot traffic doubled.
27. 11/11 · Supplier price increaseA new price list came from the supplier: your most-used items are up 7%. You redid your prices.
28. 11/13 · Equipment stoppedThe fridge stopped during the afternoon rush. You threw out part of the stock and called a repair technician.
29. A customer fell in the shopDispute liability — Mediation set fault at 60:40. With legal fees it came to about the original settlement.
30. 12/17 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
31. 12/29 · Building repairsWork started on the building’s facade. Scaffolding went up in front and hid your sign.
32. 1/11 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
33. 2/12 · The exchange rate pushed up import billsThe VND/USD rate rose to 26,297. Imported flour and cooking oil follow it up.
34. Financing approvedBank working-capital loan ₫34,000,000 · 9.3%/yr · 60 months
35. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. Bank working-capital loan ₫34,000,000 approved.
36. 3/23 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
37. 3/30 · A family emergencyThe school called about your child. You left the work in other hands and rushed over.
38. 5/6 · Loan payment dayLoan payment day. ₫711,406 in principal and interest left the account. The balance is ₫33,102,972.
39. Financing declinedThe Bank working-capital loan application was declined.
40. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
41. 6/16 · Supplier price increaseThe delivery driver said a freight charge starts next week. In effect, a 3% rise.
42. 6/28 · Equipment stoppedA key machine broke. Three days for the part to arrive; you did it by hand until then.
43. 7/7 · Records requested by the tax officetax office (Chi cục Thuế) requested records for VietQR and MoMo sales and cash sales. You opened the books again.
44. 7/15 · Card terminal outageThe card terminal died at the busiest hour. You served only customers paying cash.
45. 8/20 · Hygiene inspection noticeWord went round that a shop on your street was fined at inspection. You redid the kitchen cleaning rota.
46. Financing declinedThe Bank working-capital loan application was declined.
47. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
48. Prices and fuel costs jump at onceSeptember inflation passed 5%. Gas cylinders, cooking oil, and the fuel for the trucks that bring supplies all went up inside a week. Telling customers about a price rise is not easy.
49. Regulars AppearedA customer on their third visit says, "Make it less spicy today." You remember their taste. Regulars are not revenue; they are the reason to open the door.
50. Year 2 closeRevenue ₫94,457,165, loss ₫65,728,274. Cash ₫31,999,218.
51. 2028 · year 3 beginsChinese Demand Cooled
52. 9/12 · Oil reached the cost baseBrent rose to $126 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
53. Cash ran outTake a credit loan — The rate is 20%. You can breathe, but the interest comes back every month. The repayment schedule in the banking app starts to look like a calendar.
54. 10/4 · The exchange rate pushed up import billsThe VND/USD rate rose to 27,357. Imported flour and cooking oil follow it up.
55. 10/9 · Heavy rainHeavy rain cut the foot traffic to nothing. Two reservations cancelled.
56. 10/3 · Water damageWater came through from upstairs. Two days closed, the ceiling opened up. Repairs: ₫16,905,917.
57. 11/29 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
58. Financing declinedThe Bank working-capital loan application was declined.
59. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
60. 12/8 · Loan payment dayLoan payment day. ₫5,148,422 in principal and interest left the account. The balance is ₫227,608,245.
61. 1/21 · The rush before the long holidayOrders rose ahead of the long holiday. Delivery and stock both became tight at once.
62. 2/9 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
63. Financing declinedThe Bank working-capital loan application was declined.
64. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
65. 3/10 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
66. 3/2 · PandemicThe government announced opening-hour limits and a ban on gatherings. The streets emptied.
67. The restrictions drag onTake the emergency relief loan — The relief loan arrived. You bought time.
68. 4/3 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
69. 4/26 · The bank asked for documentsYour bank contact changed. The new one asked for the past year’s statements again.
70. 5/17 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
71. 5/20 · Building repairsWater leaked from upstairs. You and the landlord argued over who pays for the stain on the ceiling.
72. Financing declinedThe Bank working-capital loan application was declined.
73. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
74. 6/19 · The exchange rate pushed up import billsThe VND/USD rate rose to 27,357. Imported flour and cooking oil follow it up.
75. 6/8 · Relief paymentA government relief payment of ₫18,331,717 came in — about a month’s rent.
76. 7/25 · Down sickDay three of a cold that will not lift. No time to see a doctor.
77. 8/17 · Records requested by the tax officetax office (Chi cục Thuế) requested records for VietQR and MoMo sales and cash sales. You opened the books again.
78. Financing declinedThe Bank working-capital loan application was declined.
79. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
80. Chinese Demand CooledA prolonged slump in Chinese domestic demand and real estate lowered Asia's export outlook. Clients who bought raw materials cut orders, and domestic consumption turned cautious as well.
81. Year 3 closeRevenue ₫83,446,411, loss ₫78,157,565. Cash ₫33,781,166.
82. 2029 · year 4 beginsRates Rose
83. 9/5 · A competitor made a moveThe shop directly opposite started 20% off. A few regulars went there.
84. 9/28 · Supplier price increaseThe supplier said prices go up 7% from the next order. You need to find another supplier.
85. The lease is upDo not renew; close the shop — On the last day a few regulars came by on purpose.

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