Few Essential Tips for Start-Up Foodpreneurs

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Despite the many economic downturns worldwide, many are still hopeful to make a name of their own in the business industry. And of course, when it comes to businesses, food ventures are a typical popular option. If you’re an aspiring food entrepreneur or you’re thinking of putting up a business of your own, hope you find the following tips helpful on your planning.

 

Know the different types of food businesses.

The food business industry is a broad one, so it’s necessary to figure out your main concept for your business first. Know about the different types of food enterprises. Apart from the traditional dining (fine dining or family/casual restaurants, ethnic restaurants, and fast food chains, for instance), you can also check out different types of mobile food businesses. Some of the types you can consider are food trucks, catering units, or vending carts. Of course, your main business concept should depend on your particular interests, your budget for this venture, and your areas of specialization.

 

Consider legal requirements.

Before starting any business venture, make sure to take into account different legal considerations. Requirements in getting permits or business license typically vary per state so I cannot give you a definite list of things for this. Apart from business permit, also think about other legal documents you’ll likely need, such as a tax certificate and health and sanitation license. Also think about zoning laws implemented in your locale if ever you’re planning to go for a mobile business.

 

Do a market research and competitive analysis.

If you want to be successful on your chosen niche, it should start with finding out how it is in your target industry. Who will be your target audience and where do you plan to put up your venture? Is your chosen area suitable for the business concept you have in mind? What are the particular consumer behavior and business trends in your target niche? Also know about your competitors. Who will be your competition and what business practices or strategies do they implement? Doing a market research and analysis can also help you work on developing your marketing strategy that will give a unique advantage for your business.

 

Think about practical considerations.

Your capital will greatly depend on your type of business and the particular products or services that you offer. Of course, apart from investing time and money in getting permits and choosing a location, another important consideration that will take up a big part of your budget is the food utensils and catering equipment. Aside from the typical dining/tableware and cooking utensils, you should also allocate budget on getting essential equipment such as ice maker, commercial freezers, food displays, and other catering supplies. Also take into account the budget you should allocate for your employees, supplies, and storage, as well as other start-up costs and considerations (one-time and ongoing expenditures). Make sure to develop an appropriate business plan and checklist so you can efficiently work on planning your funds for your venture.

 

For additional resources, check these out:

Marketing Your Food Business via Facebook

 

 

Two Crucial Factors That Will Either Make or Break Your Food Business

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If you enjoy preparing and cooking food, are creative and hardworking, you have a huge chance of succeeding in the food business. However, you also need to realize that having these qualities alone won’t help bring you to the top. In fact, there are many food business owners who are skilled and talented and yet failed. The reason is not that their product was bad, but that they didn’t have enough skills on the managing and marketing side. In order to truly succeed in the food business, you need to have both the skills and the understanding of the food and the trend, as well as the market you are serving. Having said that, here are two crucial factors that can either make or break your food business.

The Quality of Your Customer Service

Whether you like it or not, your business will go nowhere without your customers. They are the ones that keep your business alive so it only makes sense that you invest in improving the quality of your customer service. Even if you have all the money for advertising, you won’t acquire any customer loyalty if your service is poor. In fact, no matter how good your food is and no matter how big yours servings are, you won’t acquire customer loyalty if the quality of your customer service is poor. The solution is proper management. Your food business will only be a success if it is managed properly. Proper management means training your staff not just in the area of handling food, but also in the area of handling customers. If there is one thing that will separate you from your competitors, it’s the way you treat your customers. Treat them with care and you will not only gain loyal customers, but loyal fans.

The Supplier You Choose

No successful food operator has made it big without the help of good suppliers. This is the main reason the supplier you choose is the second most critical thing you need to focus on. The quality of their products has a direct bearing on your business so be careful which supplier you partner with.

Obviously, you would want to partner with someone who has already established a reputation in the industry such as Premier Sales & Rentals. However, you also need to make sure they are not a company that’s big enough that they won’t have enough time for you. Also make sure that the products you buy or rent from them are treated, processed, and stored properly. Finally, establish a close working relationship with your supplier and make sure you maintain a constant line of communication with them.

There are several other factors that can determine whether your food business is going to grow or not, but these two are the most critical and the ones you should invest your time, money, and energy in.