How to Start a Business in Food and Drink?

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The food and drink industry is a hugely popular one with both professionals and consumers alike and is one that, due to its fulfilment of a basic human need, will always continue to exist regardless of the economic climate. For these reasons, many people dream of starting up their very own business in catering or food production but as with all sectors, there are a number of steps that must be followed if you want to capitalise on your chances of a successful launch.

how to start a business 300x151 How to Start a Business in Food and Drink?Organise your finances

The first step when setting up any business is sorting out the all-important financial matters. Whether funding your business with your own money, drumming up capital from investors or borrowing from external sources, you need to carefully outline how much money you will need and where exactly you will be spending it. This will also help you calculate the necessary costing for your goods later down the line to make sure your business remains profitable. The good news is that lending for small businesses is on the up, so you should be able to get the financial backing you need in those often difficult early stages.

Find your niche

The food and drink industry is huge and standing out amongst your competitors can seem like a daunting task. The best way to do so is to find a niche market; an area of the industry that has been largely un-catered for but which has the potential for profitability. By providing consumers with something that they have been crying out for and that is truly unique, you stand a much better chance of making your mark on the crowded and often stagnant marketplace.

Experience and qualifications

As exciting as working in food and drink can be, it is often very full-on and highly stressful and running a business of any kind is undeniably difficult. This is why it is always best to gain experience working for someone else within the industry before you embark on your own ventures. By granting you with a direct insight into the running of a catering company, you can learn from the triumphs and mistakes of others to aid you in making your own future business a success. With so many jobs in food out there to choose from, the possibilities of where and how to gain experience are endless.

Set up operations

To be able to run a business, you need appropriate premises, a reliable team of staff around you and all the necessary equipment to actually create your products. It is also important you check with your local authority to make sure you obtain any relevant certificates or permits to be able to trade with other businesses or sell food and drink to the public.

Plan your marketing

Marketing does not just apply to large, multi-national corporations with huge amounts of market control and spending power that can afford TV campaigns worth millions. However big or small your advertising endeavours may be you should always have a plan of action to spread the word about your business; especially during the build up to and immediately following your launch, when customers are vital to your establishment and survival within the market.

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