May 15, 2008

There’s Money in Food

Posted in business at 3:20 pm by kimsan23

Someone once told me that aside from gambling houses, food is the next best income generator business a person could set-up.

A few weeks ago, I announced that we were setting up a baked goods thing. It’s evolved from the idea of a simple distribution to a full-blown coffee shop. It’s not up yet but we’re scouting locations. So far we’ve eyed MOA (Mall of Asia) and TriNoMa. Looks like our investment’s gonna increase dramatically on the location alone.

Anyway, on a quick note: we have sold a total of 4 cheesecake brownie orders and 7 choco chip oatmeal cookie orders in a week. We’re still testing the market so we’ve spent a lot on sampling. I’m hoping we could get into marketing full-swing.

Some good advice on setting up a food business:

  1. Define your FOOD STYLE. – Some people would suggest adjusting your food style to particular target markets. This, I think id good advice for people who have been in the food business for a while. For starters, identify what your best food style is first. Perfect it and work on developing food items that fit the bill.
  2. Price your goods. – Compute for cost. Factor in the essentials like ingredients, gas/eletricity, packaging, man-hours, transportation and other expenses like how factor in expenses on tools and appliances wear and tear.
  3. Identify your TARGET MARKET. – Find out what types of people appreciate your food and who can afford it.
  4. Finalize your initial distribution plan. – Determine whether you want to do retail, wholesale, door-to-door, set up a shop or any other type of distribution.
  5. PROMOTE! – Create a plan that will help you promote your product at the lowest cost possible. Do some food sampling and other marketing activities.
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2 Comments »

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  2. Lhurey said,

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