The rollercoaster life everyone is leading has created a massive demand for grab-and-go meals. This has created opportunities for many entrepreneurs to start thinking about a meal prep business as their go-to idea for a side hustle. If you are looking into starting a meal prep business, today is your lucky day. This post will help you begin your meal prep business with a comprehensive business plan template and essential guidelines for putting this together.
Let’s not keep you waiting, then.
Download the meal prep business plan template (in Google Docs)
As part of Albusi’s professional solutions for entrepreneurs, the team has developed a downloadable business plan template to help you draft a comprehensive business plan. FreshPrep guides your business plan by presenting the main sections of an executive summary, company information, products, market opportunity, legal stands, roadmap, traction, and financial projections.
You can download the template here:
Please note that Albusi templates are based on fictional companies. They are only meant to provide you with more realistic content rather than the “lorem ipsum” versions spread on the internet.
The good news is our business plan template is not the only thing you need to start a meal prep business. You also need to understand more about the industry and what you need to do to create a successful business.
So, don’t stop here. The coming section will help you explore ideas for your business and guide you more in writing your plan.
Critical Considerations in Your Meal Prep Business
Focus on Differentiation
Customers are overwhelmed with buying options to choose to eat from. You have to offer something of real value and advantage for your potential customers to grasp their attention and fulfill their wishes.
Think about things to differentiate your services and make people want to buy your meals; these can include:
- Unique ingredients for your meals (organic, gluten-free, vegan, 0% sugar)
- Monthly discounted plans
- Ease of ordering
- Same-day delivery
- Tailored meal plans
In our RCT, FreshPrep’s USP (unique selling point) is its commitment to using high-quality ingredients, preparing meals with care and attention to detail, and providing a wide variety of menu options that cater to different dietary preferences and restrictions.
Create Partnerships
Building new partnerships with solid entities that can affect your sales and profit is very important.
Think about the gym members who want to maintain a healthy diet and look for ready-made meals that go with their workout schedules. Reach out to gym owners and offer great deals alongside gym memberships.
Another idea includes partnering with corporates to provide promos and deals to working moms to save their time and energy in cooking a meal.
However, for the partnership to succeed, you must understand that both parties must get something out of it to make everything worthwhile. So, plan how to approach your soon-to-be partners for your meal prep business.
Think about the 3Ps: Product, Price, and Portions
Let your soon-to-be customers find the perfect combination through your meal prep business: the best-served high-quality meal bought at affordable prices. Your customers want to feel full after they have had your dinner, too! Something I believe a lot of food businesses are now missing. Also, consider setting different price tiers based on the number of orders that customers make weekly or monthly to get them the deal they want.
Your Meal Prep Business Plan Overview
- Executive Summary: A summary put together from all your table of contents. This is the introduction to your meal prep startup while highlighting the critical elements of your business. This might be the only thing executives have time to go through, so be very eloquent.
- Company Information: The primary company information, with the mission, vision, and goals of your meal prep business.
- Problem: You tell your reader what triggered your business to exist and what the market is suffering from and missing.
- Solution: You then present a comprehensive solution to the problems faced by consumers in the food industry.
- Products: Describe your food products and services in detail.
- Market Opportunity: Some figures and diagrams about how the market presents an excellent opportunity for your business to enter.
- Go-to-Market Strategy: This explains the step-by-step comprehensive plan to launch your food products on the market.
- Team: Introduce your team members and business partners who have previous extensive experience in the food and beverage industry.
- Legal: You explain the legal information about your meal prep business and how it complies with the laws and regulations. This includes topics such as the business structure, licenses, permits, and legal counsel.
- Roadmap and Traction: Present a roadmap coupled with clear indicators of your progress in the market and how well it is performing as a startup business
- Financials: Your business financial projections include revenues, expenses, and profitability analysis.
Final Thoughts – The Meal Prep Business Plan Summary
Finally, this was our post to help you start your meal prep business. With a comprehensive business plan template and essential guidelines to consider, you will be able to kickstart your gig on a strong foundation. Remember to differentiate your business and build lasting strong partnerships that benefit your business. Also, offer high-quality meals with affordable prices and good portions. We want lasting customers to generate big revenues for your business.
And as usual, if you’re out of time and want a consultant to help you plan and complete this, contact one of our freelancers. I highly recommend it.
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancer’s business plans or pitch decks!
