During these days, everybody is looking high and low for ways to make and make both ends meet. Employment is one of those choices. Unfortunately, not everyone can avail of the opportunity, either as a result of limited availability of jobs or because of a lack of qualifications for the jobs available.
Another means to make is to enter business which I think is a much better and more promising choice. Here are some simple and practical steps that may guide you in setting up a food business the easy way:
1. Start! As in any endeavors in life, getting started is the toughest part.
Procrastination is the first hurdle we have to overcome. We might have the best idea but it remains just that, an idea until we do something concrete about it. How?
a. Set your objective. In case you’ve got a passion for cooking, then make a decision as to what aspect of your culinary experience that you wish to use for your business (do you intend to put up a little restaurant? Do you want to enter catering? Will launch an outlet for particular delicacy fits you best? Etc.) Directly targeting a specific facet of this business makes it more achievable. Avoid being overwhelmed at the start by targeting several potential facets of the business at exactly the exact same time.
b. Learn everything you can about the food business and add details to your own idea to make it more concrete. Read, surf the internet, browse over articles in magazines, attend seminars and exhibitions, consult with friends or partners who are or had been in the business. You can learn from their experiences, be they good or poor.
c. Think of how you’ll finance it as soon as you’ve decided which facet of the food business you believe will suit your fantasy. This might seem to be a significant problem but it shouldn’t be.
2. Plan how you will fund your dream business.
Based on what you intend to install, decide how much you’re prepared or are capable of investing. For a first-timer, it’s a good idea to plan for a small, single propriety business. This is a more sensible step to take to minimize potential losses in case things don’t go as anticipated at the beginning. Additionally, this will avoid first-timers’ concern about failing and influence momentum in your own plans. To help you finance your dream, you may want to consider these funding sources:
a. Your personal saving
b. Applying for loans with your bank, credit groups, relatives, friends, or NGO organizations. It’s highly recommended not to exhaust your credit limit from any possible source. Additionally, approaching as few resources as possible (preferably only one of these) allows you longer fall back assistance in the event you grow larger and need additional financing.
c. Receive a business partner who shares an identical passion as yours
3. Now, you’re ready to begin your business. Consider these important elements of a business.
a. Location: This might not be a priority if you intend to enter catering but just the same, your cooking facility should be in the region of those you intend to serve. Delivery should not take as much time so fresh food reaches your customers faster. This will save you transportation expenses.
However, if you’re starting a food outlet like a restaurant, a little stall, or a food cart, then think about a location where traffic of possible customers is from medium to heavy. A stall at a food court in malls is a fantastic consideration plus it might cost less than renting another area in a shopping complex (but rather close to the food center as well).
b. Personnel: In the beginning, employ a minimum number of individuals. For a small socket, a cashier (which perhaps you), two servers, two cooks, and a busboy will suffice. Using disposables will remove the need for a dishwasher. But if it’s a stall at a fast-food or food court, you dispense with a dishwasher if reusable utensils because food court managements supply this. Also, there’ll be no requirement for a busboy. Daily marketing for supplies can be delegated to your own cooks.
c. Work on all the essential authorities and health requirements to start up a business legally. Legalizing your business saves you many troubles in the future.
d. Marketing strategies: As in any business, advertising plays a huge part if you’re to grow. Listed here are a few examples you may think about:
- Flyers to let customers know exactly what you provide and for how much.
- Provide a special price (and smaller percentage) for a specific thing for the day. This is to allow them to sample your food without giving it away for free.
- Provide a free meal for groups of 5 or 4 (whichever is viable for your budget).
- “Bring-a-friend” incentives (you may provide special discount cards for your endorsers).
Together with the above guidelines, I hope you will find it much easier to begin your dream food business shortly.
NOTE: There are individuals who participate in this business who give up after just a month or two of operation. Among some reasons for this are:
a. Lack of sustained interest.
b. Realization of a better business venture for them. A change of heart isn’t unusual.
c. Seeming “slow” growth of the business in accordance with their expectation. Bear in mind, there’s a solid Latin adage that states: “Festina Lente”(accelerate gradually) that could be adopted in conducting a business.
d. Loss of patience because of the feeling that the business doesn’t seem to grow in any respect. Normally, this scenario happens when we don’t apply simple arithmetic in conducting the daily operation of the business.
Do not forget that doing precisely the same thing contributes to receiving precisely the same result every time. Thus, if the amount of your investment remains the same each day, your gain will be as was yesterday as well. What to do? This may seem to be a slow process BUT it definitely works:
At the end of every day, compute your gross income. Deduct a certain proportion of that income (1% or 2%) and add this to your investment the next day. In this manner, your investment grows by so much EACH day. You’ll be amazed that your investment (and your net profit) has grown so much in a month’s time or two!