Everybody needs food. That’s why when done right, small food businesses can thrive and eventually turn into lucrative enterprises. In fact, according to the US Small Business Administration, 60.6 percent of all the employees in the food and accommodation sector are in small businesses. But before you quit your day job, it’s worth doing your research first to figure out just what kind of small food business is perfect for you.
To help you out, here are some food business ideas that can take off with little capital.
Homemade Food
Sometimes, the simplest solutions are the best. The easiest thing about selling homemade snacks and meals is that you’ll be making them anyway. It also means you’re already experienced in making these food items and you most likely have the materials you need for making them. You can start small by adding a couple of servings to your normal dish. The variety of food delivery service apps now means you don’t even have to have an actual store for your products to reach more people.
Just remember to keep track of the orders that come in. With these kinds of ventures, it is easy to take in more than you can handle and end up with dissatisfied clients as a result.
Tea/Coffee Shop
Caffeine courses through the veins of most young professionals today. And despite the existence of big names in the industry like Starbucks, the market can still accommodate smaller challengers. Being a newcomer can be a great advantage since you can basically mold your business according to the demands of your target market.
A small, 3-table shop means you can get to know your regulars better. Don’t worry too much about those expensive machines that churn out perfect cups; there’s warmth and art in making the tea or coffee yourself, and there are some customers who will resonate with that.
This type of business is best located near universities or central business districts. Find the balance between rental costs and possible conversion rates.
Jam and Preserves
Preserving fruits can do more than just extend the shelf life of food. Making, storing, and eventually selling jams can be a good business strategy. You can start small and slowly build your client base. And like selling homemade food, you can use food delivery apps to help widen your reach.
If you’re feeling particularly adventurous, you can even sell complementary snacks together with jams and preserves. Funnel cakes, for example, are also easy to prepare and relatively cheap. You can simply get funnel cake mix in wholesale and make your own combo.
Chocolates
Chocolates have a universal and constant appeal. It is sought after by people of all ages. The best thing about it is how easy it is to make once you have a juicer and a melanger. You can try different ingredients to complement chocolate, too. Be creative with your packaging and delivery methods. You can pair chocolates with flowers, toys, and other items as well.
Food will never go out of style. Along with the many resources and tools available to entrepreneurs today, it is not surprising that making, selling, and transporting food are among the most popular choices for small businesses.
