We can resist buying new clothes, but it is impossible to resist hunger. This is why food businesses keep expanding and are one of the most profitable businesses in the world. However, your passion is not enough to get you up and running in the hugely competitive arena of food business. Statistics show that practical passion based on the three pillars of great marketing, product positioning, and shelf strategy, is necessary to increase your chances of success in the consumer food arena.
If you are a person looking to start a food business, this article is for you, and we are here to provide you ideas and tips to make it in the Indian food industry.
Things to Consider Before Starting a Food Business
As a foodie or a food enthusiast, the ultimate dream is to open up your own food business. However, it is definitely not all fun and games. People usually fail to consider the trials and ordeals that they will have to face in the nascent phase- starting a food business is definitely no easy feat.
Listed below are steps that will ensure the smooth roll out of your very own food business:
- Build Commitment: First and foremost, you must be tied down to your concept. Work on building a solid, irresistible plan and stay committed to it. Not only does it help you stay focused on running your business, but also helps you organize your business better by providing better service to your customers.
- Create a Unique Concept: Food is an idea many people pursue as a business, therefore, create a concept that makes your business idea look original. Focus on creating an experience for your customers. Your idea is what will set you apart from your competitors. Always aim at delivering more than what your customers can ever anticipate.
- Create a Business Budget: A business budget will entail looking into all the costs you will need to cover to begin operation of your business, the funds you will need to operate the business once it’s up and running, and a long-term plan of how your business will make money and how much money you expect to make.
- Study your Competitors: Before launching your own food business, you must know who else is out there and what they are doing. The ideal situation for starting a food business is to find a hole in the market. Keeping a tab on your competitors will help you determine the hole you must cover. In terms of a business, a hole is where there is customer desire but no one to meet their needs. Finding a hole or market gap will help you to decide what kind of food you want to sell and how you want to present it to your customers.
- Choose a Strategic Location: It is no secret that a strategic location plays a dominant role in determining the success of a business. This is why many business owners spend a lot of time and invest a considerable chunk of money to lay their hands on a lucrative business spot.
- Register for all Required Licenses: Before you kickstart your own food business, make sure that you are legally licensed to prepare and sell food. Some of the licences that are absolutely crucial include a food handling permit, a certificate of occupancy, a liquor license to sell alcohol, a food license and a resale license.
- Create Attractive Promotional Programs: After looking into the basics of setting up a food business, you must also devote enough time to strategize to get customers through the door and eating your food, as the food industry is notoriously difficult to break into. One important step to avoiding that fate is establishing your online presence and nurturing your consumer base. In a nutshell, work on creating a social media presence, create a website for your potential customers, and set up online review sites. You can lure customers with irresistible deals and discounts during the initial days.
25 Fast-Growth Food Business Ideas To Start In India
Once you have got the logistics figured, setting up a food business is going to be a cake walk. However, given the wide array of choices, it might be challenging to narrow down your choices to that one thing that you want to focus on.
So, to make life easier for you, here is a list of 25 promising ideas with low investment and high profits:
- Family Style Restaurant: A family style restaurant is designed to cater to families. With meticulous planning and low to moderate investment, one can set up a high profit yielding restaurant.
- Fast Food Restaurant: Fast food restaurants are ideal for those who enjoy making and serving delicious food that people of all income levels can enjoy.
- Chocolate Making: People of all ages are fond of good chocolate. So, if you can cater to their needs and serve delicious chocolate, you can set up a high yielding business with small capital.
- Ice-cream Parlour: Nowadays, an individual eats ice cream all year long. You can either set up your own ice-creams or take a franchise of some famous company.
- Cooking Classes: If you’re a culinary expert and are looking to start a business from home, this is the best option for you.
- Coffee Shop: This is a highly advantageous proposition for first time merchants who decide to sell coffee. Since it’s a widely available product, customers tend to value exclusivity.
- Baby Food: Every parent wants to serve a nutritious meal to their child and baby food is one of the easier things to make and sell and can be a great first-time home-based business.
- Organic Food: Organic foods have grown incredibly popular in the past decade, you could choose to sell raw, organic produce or use organic ingredients in your food products.
- Home-made Jams and Jellies: If you’re familiar with the art of jam making and know your way around fruits, making jams and jellies is a great low-cost business.
- Sauces: Sauces can be a great product to sell as they are a feature of nearly every cuisine.
- Catering: You can consider offering catering services on a small or large scale if you are a good planner and have the requisite managerial skills.
- Nutritionist: With a degree in nutrition you can help people by curating diets suited to their nutritional needs. Certified nutritionists are in high demand in metro cities.
- Food Delivery Service: Food delivery has become an integral part of our lives. These days, orders are executed through mobile apps, websites or via telephone, and with almost no investment, you charge commission for it.
- Honey Processing: The processing of honey is a procedure that involves heating, filtration and moisture reduction. You can establish a processing unit for it either manual or automatic, and this business is treated as one of the emerging food processing businesses.
- Grocery Store: Starting up a small grocery store in India is a lucrative business idea as the population is increasing and the purchasing power of the average person is rising. You can add special tech facilities also in it like taking orders on e-mail, what’s-app and home-delivering etc.
- Fruit and Vegetable Mart: The demand for good quality fruits and vegetables can never die down, and you may invest in one. You can start as a wholesaler or retailer.
- Sweet Shop: In India, there is a huge demand for sweet shops. They are in demand around the year and highly demanded during the festivities. This makes this business a very attractive one.
- Biscuit Making: Many people prefer to buy bakery biscuits from the local bakery shop. Therefore, it is a very lucrative business with a high profit margin.
- Dairy Products: Dairy products have a year long demand. You can either take the franchise of some company or you can make your own products and sell them.
- Personal Chef: Personal chefs are trained cooks hired to provide at-home meals for their clients. If you’re looking for something in the food industry that offers that chance, then becoming a personal chef is your thing.
- Gourmet Popcorn Shop: Gourmet popcorn shop businesses make popcorn in many different flavours, and if you want to experiment with new tastes and flavours, this is your thing.
- Food Kiosk Business: Generally situated in high traffic locations, this venture requires a low capital investment with the possibility of rapid growth built right in.
- Bread Making: Bread has become a very important part of daily breakfast spreads. A product so high in demand is certain to yield high profits.
- Pickle Making: Pickles are an integral part of all Indian households. Develop some good and unique pickle recipes and your business can be a super-hit.
- Meat Processing: Usually entails processing meat chemically, and this could be one of the good small scale food processing business ideas.
When it comes to the food industry, the possibilities are endless. Your passion, determination, and most importantly, your love for food is what will be your guiding light and help you start your one-of-a-kind food business. We hope our list of 25 food business ideas helps you take your business from an idea to an enterprise!