So, you’ve decided you want to start your own food business. Congratulations! Business ownership is hard work, but very rewarding and worth it. While there is some negativity out there about starting a business in the food industry, it can be quite lucrative.
Womply recently released a State of Restaurants report that provided data from local restaurants all around the nation. For the report, Womply analyzed independent eateries’ revenue, the times of year that they received the most business, etc. According to the report, the average independent eatery did about $1,720 in daily sales revenue which would be between $495,000 and $577,000, (depending on how many days a week the establishment was open), a year before overhead.
When you’re first getting started, you’ll need to create a logo, (there are tons of free online logo creators available online to help you save), find a location, apply for a business license, etc. If you’re still trying to decide on what type of business to start, though, here are some ideas for the best types of food businesses to get you going:
It’s hard to resist fresh baked cookies, bread, brownies, or anything that just came out of the oven. Whether you choose to open a general bakery that serves your local area with everything from cakes and cookies to bread and buns, or you want to specialize and offer high-end wedding cakes and cupcakes only, a bakery is a good food business to start.
When you start a bakery, you have two options: First, you can open up a physical location and sell directly out of a store. Second, you can start a website online and market to locals through Facebook, Google, paid ads, etc. and cut your overhead costs by baking and selling out of your home. Either way, bakeries typically do well.
An Organic Food Store
As consumers have become more and more aware of what they’re putting into their bodies and what’s being put into their food, organic food options have become more important. The hormones and chemicals being injected into animals and even fruits and vegetables can cause serious health issues to both kids and adults alike, so consumers are more interested in and willing to spend more on healthier, safer options.
Like a bakery, an organic food store can be started in a physical location in your hometown or can be launched online. You could launch it yourself or use Amazon as the fulfiller. Either way, offering high-quality, organic products at a reasonable price is something that consumers will love.
A Casual Restaurant
There’s a difference between a casual restaurant and a fast food restaurant. Instead of McDonald’s, Wendy’s, and Burger King, think Chipotle, Kneaders, and Culvers. While you can still get your food from the drive-through, and it’s still made and given to you quickly, the quality is a little bit higher, and the restaurant is a little bit more inviting. People don’t always have time for a full dining experience, but they don’t want to be rushed or uncomfortable either.
Whether you want to start a quality burger joint, homemade sandwich shop, or Tex-Mex eatery, go for a casual atmosphere instead of fast food. You’ll attract patrons for all meals of the day and could become their new favorite local eatery in no time.
A Personal Chef Business
Life is crazy busy, and although many people would like to take the time to make a healthy, homemade meal for their family, it can be hard to do it. Eating out every night and relying on fast food options is not something they want to do, though, and freezer meals aren’t much better. If you love to cook and are typically whipping up dinner for your family each night anyway, you may want to consider starting a personal chef business.
As a personal chef, you can take on clients and provide them with a menu, or you can take personal orders and make a unique meal for each client every night. Either way, you’ll be able to start your own business, and they can feel confidence feeding their family a healthier, better alternative to fast food.
A Coffee Shop
Raise your hand if you’re not you without your coffee. 44 percent of Americans report that they consume between two and three cups of coffee per day, making it a good business to get into. Although joints like Starbucks may be nationally recognized, launching your own local coffee shop and perfecting the art of making coffee can bring in a lot more business than you might expect. You can take it even further and offer organic, fair trade coffee as well as environmentally conscious packaging to stand out and give back to the environment.
Starting a food business is a lot of work, and as with any business there’s some level of uncertainty, but ultimately food businesses can do quite well. Whether you start a bakery or a coffee shop or want to provide people with an organic alternative to the food and spices they buy every day, you can see a lot of success. What kind of food business do you plan to start?