The opportunity of employment these days is enjoyed by a few, either due to the limited availability of jobs or due to a lack of qualifications for the jobs available. Starting a business is a good way to cub the issue most especially the food business.
Another means to earn is to go into business which I believe is a better and more promising option.
Here are some simple and practical steps that may guide you in putting up a food business the easy way:
- Start!
As in any endeavors in life, getting started is the most difficult part. Postponement is the first hurdle we must overcome.
We may have the best idea but it remains just that, an idea until we do something tangible about it.
How?
2.Set your goal.
If you have a passion for cooking, decide what aspect of your culinary expertise you want to utilize for your business.
Ask yourself;
Do you plan to put up a small restaurant?
Do you prefer to go to catering?
Will opening an outlet for special delicacy fits you best?
How will you market your recipes?
Do you need a website? And many other questions
Directly targeting a particular aspect of the business makes it more achievable. Avoid being overwhelmed at the start by targeting several possible aspects of the business at the same time.
- Learn all you can about the food business and add details to your idea to make it more concrete.
Read, surf the internet, browse through articles in magazines, attend seminars and exhibitions, consult with friends or associates who are or had been in the business.
You can learn from their experiences, be it good or bad.
- Once you have decided which aspect of the food business you think will fit your dream, think of how you will finance it.
This may seem to be a major problem but it need not be.
- Plan how you will finance your dream business.
Depending on what you plan to put up, decide how much you are willing or capable of investing.
For a first-timer, it is good to plan for a modest, single propriety business. This is a more prudent step to take to minimize possible losses in case things do not go as expected at the start.
Also, this will avoid first-timers’ over concern on failing and affect momentum in your plans. To help you finance your dream, you may want to consider these financing sources:
- Your personal saving
- Applying for loans with your bank, credit groups, friends, relatives, or NGO organizations.
It is advisable not to exhaust your credit limit from any other possible source. Also, approaching as few sources as possible preferably only one of them, allows you more fall back assistance in case you grow bigger and require additional financing.
3. Get a business partner who shares the same passion as you
4. Now, you are ready to start your business.
Consider these important aspects of a business.
- Location:
This may not be a priority if you plan to go into catering but just the same, your cooking facility should be within the area of those you plan to serve.
Delivery should not take so much time so fresh food reaches your clients faster. This will also save you transport expenses.
However, if you are opening a food outlet like a restaurant, a small stall, or a food cart, consider a place where traffic of potential clients.
A food stall in a mall is a good consideration plus it may cost less than renting a separate space in a shopping complex.
- Personnel:
At the start, hire a minimum number of people. For a small outlet, a cashier, two servers, two cooks, and a delivery boy will do.
Using disposables will eliminate the need for a dishwasher. But if it is a fast-food stall or food court, you won’t need a dishwasher at all since food court managements provide this.
Also, there will be no need for a busboy. Daily marketing for supplies can be assigned to your cooks.
- Work on all the necessary government and health requirements to open up a business legally.
Legalizing your business saves you a lot of troubles later on.
- Marketing strategies:
Every business needs a good advertising plan; this is a big part if you are to grow.
Here are a few suggestions you may consider:
- Make flyers to let clients know what you offer and for how much.
- Offer a special price for a particular item for the day. This is to let people sample your food without giving it away for free.
- Offer a free meal for groups of 4 or 5 as long as it fits within your budget.
- “Bring-a-friend” incentives.
You may give special discount cards to your persistent customers.
With the above guidelines, I hope you will find it easier to START your dream food business soon.
PLEASE NOTE: There are those who engage in this business who give up after only a few months of operation.
There are many reasons for this and among them are:
- Lack of sustained interest.
- Realization of a better business venture for them. A change of heart is not uncommon.
- Seeming “slow” growth of the business as per their expectations.
Remember, there is a sound Latin adage that says: “Festina Lente” meaning hasten slowly which can be adopted in running a business.
- Loss of patience due to the feeling that the business does not seem to grow at all.
Usually, this situation happens when we fail to apply simple arithmetic in running the day-to-day operation of the business.
Remember that doing exactly the same thing results in getting exactly the same result each time. So if the amount of your investment stays the same each day, your profit will be as was yesterday’s as well.
This may seem to be a slow process BUT it surely works:
At the end of each day, compute your gross income. Deduct a certain percentage of that income (1% or 2%) and add that to your investment for the following day.
In this way, your investment grows by so much EACH day painlessly. You will be surprised that your investment and your net profits grew so much in a month’s time or two!
We would love to see you grow and this is why at Killasites Digital Systems we compiled this article to help your business grow.
if you have questions on how to grow your business’s online presence, get in touch through our live chat platform.