The food industry has been a booming market for kitchen-based entrepreneurs in recent years. Niche products from small businesses are now a common sight on grocery store shelves. And, more people than ever before are taking more notice of what they eat. So, if you are looking to get into this multi-billion dollar industry and succeed, it's clear that health food is where it’s at. Let’s take a closer look at how you can get started.
The facts
First of all, it’s important to understand that there are a lot of health food products out there. Competition is fierce, and it’s one of the most challenging markets you can enter right now. However, with the right product and marketing plan, you could become a runaway success. And, given that the health food market is outpacing the general food and beverage market by almost 5%, there is a lot of space for newcomers.
Your idea
So, how can you go about making it to the big time? It’s vital to separate yourself from the crowd and bring something new to the table. Differentiation is critical in any industry, but it's even more so when the market is crowded. Find a hole or demand that isn’t satisfied, and fill it.
Perfecting the art
Your food products cannot succeed if they don’t taste delicious. Taste has to be your number one priority. However, at this stage, you need to be careful. Creating a dish or new snack at home is one thing. Making it on a large scale basis is another entirely. Make sure your product is capable of scaling up with no impact on taste whatsoever.
Investing your money
Don’t underestimate how much scaling a food idea into a business can cost. You need to pay for the production process and all the equipment you will use, from a simple cable conveyor to the perfect packaging. There are so many hidden costs that you may be unaware of, so it's vital that you go through the whole process from start to finish to ensure nothing is missed out. Additionally, you will need to consider Supply Chain Solutions for Food & Beverage Manufacturers to ensure you’re saving money.
You will require more money than you think, so make sure your financial planning is as accurate as possible. You will need to check check on your outgoings if you want to get any return on your investment.
Forming your story
Look at the shelves at your grocery store, and you will notice that all the niche food products will be telling a story. It might be something like ‘Mama’s Best Cookies,' or ‘Aunt Cilla’s Secret Sauce.' The point is, it helps let the customer know what they are buying into. And it works. You should be doing something similar for your health food, laser-focused on your target market. If your product is for people that work out a lot, for example, you might use strong, powerful words in your story. If you are selling to vegans, you will need to evoke nature. Take a look at who you are selling to, and create your brand story around their ideas and inspirations.
Research
Finally, make sure you read up and get in touch with as many food industry experts as possible. Books like Cooking up a Business can help, and many food manufacturers will happily let you pay them a visit. The more you know about success - and failure - in the industry, the more chance you have of achieving your goals. Good luck!
