Whether you’re starting your own small catering business, developing a line of food to sell, or working at the local farmer’s market, your small business in the food industry may be the best opportunity in your life. Small business owners are able to actualize the American dream, acting as their own boss and enjoying all of the profits of their labor without the imposition of management. However, starting your own small business can be tricky, especially in an economic reality that favors entrenched corporate interests over the work of entrepreneurs. Fortunately, there are easy steps you can take to increase your chances of success with your small business in the food industry.
First of all, make sure that you have a business plan that is detailed, realistic, and takes into account all of the potential pitfalls and risks associated with starting a new business. Often, small business owners will jump in with both feet before drawing up a specific business plan. Or, they have a business plan, but it is overly optimistic or otherwise unrealistic about things that may get in the way of success. Take the time to spell out exactly what you’re up against and how you will succeed.
Next, find out about local resources that you can use to maximize your profit while minimizing the cost of overhead. For example, rather than trying to retrofit your existing kitchen space to conform with all of the health and safety regulations, you sure consider using a temporary commercial kitchen rental like those offered by Kitchen Corps. This way you can begin producing your product without spending a ton of money building or buying a permanent space. If your business takes off, you can always reevaluate your needs in the future. However, for most small businesses in the food industry, using a commercial kitchen part time is often the most affordable and practical option.
Finally, reach out to other small business owners in your community and learn from their experiences and mistakes. There are often a number of surprises awaiting a new small business owner, from tax codes to social media patterns. By getting advice from those who have come before you, you can avoid making the most common mistakes. After all, there’s no need to reinvent the wheel with every new business. With wisdom and patience, your enterprise can succeed.