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Top tips for starting a food sector business

If you are looking for a way to work for yourself, the food sector offers some great opportunities. Here are our top tips for starting your own company in this exciting field:

Choose your niche

Selecting the right product is important. The best way to do this is to look at what sells elsewhere. Next time you go to a big town or city, look at the street food.

You should be able to get a gist of what is selling well. Look at foods that are being home delivered, such as baked goods or meals for those on a special diet.

Make your ware

Choose a product and make some yourself. This will help you to work out the cost of the ingredients, the time it takes to make it, how easy it is to store and its product life.

Work out the costs

At this point, you can cost out the product and work out how much you need to charge. Next, you need to see if the market will bear this cost. Look at how much similar products cost. If the figures add up, you can continue to investigate that product.

Test the market

Make a batch of your offering and ask friends and family for their opinion. Explain you need honest feedback, because you are thinking of marketing the product.

Get trained

Once you have a winner, you need to go about setting up your business. If you are going to sell food to the public, this has to include food safety training. It does not take long or cost too much.

Do a business plan

Now, you need to work out a quick business plan. This will take you an hour or so, but it is an important step. Note down the startup costs, such as equipment, and the first batch of ingredients. Now you know how much cash you need to start, you are all set to start your own food business.

Posted by Susan
August 6, 2014
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