Many people have had the food business idea. I myself wanted to start my own food truck business one day since I witnessed how they grew and made revenues (if planned right, of course). Not only this, I had the opportunity to manage one of the organizations that were planning to start a profitable gig in the food industry of their own. They did all the research to make it happen. What happened afterward? Their food business never saw the light. Why? Simply put, they never had the right plan to start it. Also, they made so many mistakes that prevented this business from ever succeeding. I have this urge inside of me to share some common mistakes in food businesses to help you do this right. Also, I hope that by sharing these, I will save you some time, energy, and money.
Ready for some ideas to cash in on food businesses?
Here’s what you will learn and know about for the next 2 minutes.
Some Research On Food Businesses
I recently enjoyed starting my articles with some figures and numbers that back up my idea. So, I’m doing this over again for the food business.
These are the exciting arguments I came across.
In general, the future of food businesses is promising. However, with limited resources across the globe, businesses need to adapt to the trends of sustainability, personalization, and feeding health-conscious consumers. Also, the food industry is facing some new dynamics when it comes to consumer tastes. YOu now have some factors of health, wellness, safety, social impact, experience, and transparency. These are gaining significant weight in consumer decisions and driving different decisions.
Common Mistakes In Food Businesses
Now, let me tell you some of these common mistakes in the food industry businesses.
Starting Strong, Then Quality And Taste Start To Decline
Preparing mouth-watering menus can catch the eyes of many potential food lovers. However, if food enthusiasts tried your food once and it did not meet their standards of good quality and clean food, then you have jeopardized the reputation of your food business. I have seen, in many businesses, that they always care about starting strong and ensuring that everything falls into place. Once they settle, they relax in the business and tolerate mistakes, which is very dangerous in the food business. Every meal served is the perfect meal and the best thing you are willing to offer to customers.
Hire a cost controller (or get trained to be one)
I wasn’t familiar with this job either until I had to manage this food business project for which I was responsible. Cost Controllers are financial experts who are not accountants, but they control your spending and ensure you don’t derail your balance sheets. A cost controller is crucial for the success of any food startup. If you can not afford to hire one, become one. Learn the main skills yourself to help your business stay on track in controlling your costs.
Food Waste Can Not Be Taken Lightly
Food waste is a bite out of profits and reputation in food businesses. And yes, it is a bit complex. But this does not mean that you can not do anything about it in your business. It’s important to monitor your food waste rates as closely as possible. The waste rate should be as minimal as 0.04! You can always be creative with your leftovers to do something about your waste. Trust your employees to come up with something outside the box for your waste. Also, if you want to respond to your human side, think about partnering with food banks or charities to donate surplus food instead of discarding it.
What Else Can We Help You With Besides Sharing The Common Mistakes In Food Businesses?
I hope this has given you some idea about some of the common mistakes that lead to the failure of many food businesses. I have some more for you if you want to read different arguments and related topics about them. One on starting a food truck business, a guide to starting a pizza business, and a last one to write your meal prep business plan.
So, what do you think you need to kick-start a business in the food industry?
Two things: tools and experience. And we can provide you with as much as you need from both.
We have many downloadable pitch decks and business plan templates on Albusi’s website that serve as excellent guidance to prepare your business tool. These will give you a comprehensive idea to write your elevator pitch, problem statement, the solutions that you are proposing, financial projections, and investment asks.
We also build your own! The Albusi team can craft a one-of-a-kind pitch deck just for you! This is another exceptional service to entrepreneurs that you should check out. The linked page will tell you more about what our previous clients say about this service.
Also, if you need to talk more about your idea, you can just get in touch with one of our freelancers. They will help you with everything you need to plan for your business. They are great at pitching and will help you with the tweaks you need to pitch your idea to others, too.
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 freelancers’ business plans or pitch decks!
