When choosing a new business, you should focus on products with the most appeal. The food industry is perfect since everybody has to eat, right? You just need to pick the right kind of food business. Here are three smart opportunities for potential foodie entrepreneurs.
Food Truck Restaurants
Have you ever wanted to own a restaurant? What stopped you? Odds are good that it was the cost of a brick-and-mortar store. You’d have to make enough money to pay rent or mortgage plus enough to live on.
Today, you can use a different strategy. You can find plenty of food trucks for sale online. For a modest cost, you have your own restaurant! All you need to do is add appliances to the truck, assuming it doesn’t come fully equipped, and then craft a daily menu.
You should prioritize street food, one of the most popular trends in restaurants today. People can’t get enough of tacos, wraps, and burritos. They love to eat with their hands, and that’s convenient for you. All of those recipes are easy to make in the friendly confines of a food truck! You can quickly build a buzz about your products.
From there, social media does all the work. You can post updates of where your truck will set up shop each day. Loyal guests will drive around town to find you. It’s the fun way to own a restaurant! Just make sure to keep yourself covered from unwanted damages and expenses by purchasing food truck insurance. If you’re starting your catering business in the UK you can compare catering van insurance at this site: https://www.quoteradar.
Specialty Foods
You should target growth industries as you plot your business strategy. You want to enter a field that has tremendous potential but doesn’t yet have any dominant companies that dominate the market share, making you work harder to carve your niche.
You should look at the specialty foods industry. This was a $127 billion industry in 2016, with $27.7 billion of that revenue stemming from out-of-home food services. You can target this market effectively. All you need is a few great recipes, the ones that you’re friends tell you are so great, and a few potential clients. Restaurants love specialty foods, as they can market these items as unique. It’s a competitive advantage for them and a viable business for you.
Sustainable Foods
Organic foods and items that chefs source locally are in unprecedented demand. According to Statista, 81 percent of Americans want more environmentally friendly food options. Better yet, it’s an easy field to enter. If you’re unclear what sustainable food is, it’s simply anything edible that’s good for the environment and the people eating it. Today, manufacturing such sustainable products is easier than ever.
When you can supply food that’s environmentally friendly to restauranteurs, you’re again providing a competitive advantage. You’re also lowering their costs. Food delivery is a $30 billion business, and it’s an avoidable expense. Eateries love to save money by avoiding shipping fees. A local source requires less transportation and thereby less cost. You can actually sell higher to a restaurant since you’re saving them from those shipping costs.
Until humans stop eating, you’ll always have business opportunities by making food. The three fields listed here are perfect examples of why.
