Appetite For Success: Getting Started in the Food Business

Many of the highest grossing companies in the world are based around the production of food or beverages. As well as being two of life’s necessities, they are also a chance for entrepreneurs to be creative. Though overnight success is very rare, once a product has been released into the big name supermarkets, it is often on the fast track to success.

 

The beauty of the food production industry is that you can start very small with a limited amount of capital and gradually build up your business over time. That’s not to say it’s without its pitfalls. With so many people trying to do exactly the same thing, competition is likely to be stiff. If you’re looking to get into the food business, here are a few things that you should think about.

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Market Research

 

As you would when starting any business, you should always scout out the competition. Head down to your local supermarket and look at how the food and drinks are grouped. If you already have an idea for a product, think about exactly where it would fit on the shelf. Consider who would be your main competitors and think about how your product will be different from theirs. Work out who would be your main target market and start speaking to people. Find out if there is anything missing from their kitchen that your product could fill.

 

A Quality Product

 

This one may seem obvious, but it takes a long time and a lot of experimentation before you get a product that is just right. You will probably need to make various different batches with subtle variations before you get to one that is just right. Make sure you get plenty of people’s opinions. When you are creating your product, you need to have shelf life and safety very much in mind. You may start by selling your product at a local festival or fare to gauge reactions before you attempt to bring it to a larger market.

 

Production

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When you are just starting off, it’s likely that you will have a basic method of production, perhaps from your kitchen. Over time, you will begin to scale this process up with mechanisation and the support of technically minded people like an industrial seal engineer and other operatives. This is likely to be where your biggest capital investment is needed, both securing some premises in which to work and the machinery itself.

 

Packaging is King

 

Of course your product is hugely important, but without the right packaging people simply aren’t going to look at it twice. This is where is pays to get the professionals involved. Find a design agency that has packaging credentials and make sure you give them a detailed brief of what you are looking to achieve. Rather than diving in headfirst, make sure you get plenty of opinions as this is going to play such a crucial role in whether your product is a hit or a flop.

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