Are you a food lover? And wanna start your own food business?
Ever have an appetite to start a restaurant of your choice and taste?
Or been engaged in food manufacturing, production, or trading business?
You must think to start, move, or expand your food business in the US market.
This statistic shows the total sales of retail and food services in the United States from 1992 to 2018. In 2018, total U.S. retail and food services sales amounted to about 6.02 trillion U.S. dollars, up from about 2.01 trillion U.S. dollars in 1992, not adjusting for inflation. The Food Truck industry has reached $1.0bn in 2019 and the Fast Food Restaurants industry has reached $273.2bn in 2019.
If your plan is to start a food business, there are many regulatory requirements that you will need to meet. In the United States of America and in most developed countries of the world, anyone who intends to start a business in the food industry – especially running a food retail outlet will be required to apply and obtain a food handling certificate and particular licensing from the respective govt. authorities. This is so because the food industry is considered to be amongst the delicate industry; they are involved in cooking food for consumption for large numbers of consumers per time which is why the business is subjected to regular inspection by relevant health officials from your local health department.
How to start a food business?
First and foremost, thing is to decide your business idea like which food industry segment you want to make your career in.
Prepare a Business Plan
Once the idea is created and validated then an important step to starting a food business is constructing a feasible business plan. A restaurant business plan should include the following:
- Decide on a business entity and legal structure. Are you a sole proprietorship? A general partnership? Or possibly a Limited Liability Company (LLC)?
- Your food business concept. Are you going to be a takeaway restaurant? A full-service restaurant? Casual or fine dining place? Or maybe even a food truck?
- Your marketing, branding, logo, and name. How will you create a brand that your customers use to recognize your product?
- Your target market. Based on your concept and price point, what kind of patrons will be attracted to your business?
- select an ideal location. Search what neighborhood provides the best chance at a sustainable market share? What kind of competition will you face in a given area? What is the potential market size?
- A detailed budget for expenses such as inventory (food and beverage), labor, rent, legal structure registration, approvals and utilities, and other overheads.
- Your menu and price structuring. What dishes will your menu have, and at what prices will your dishes be profitable?
- The business structure. How many employees can you afford to start with, and future growth/expansion plan?
Interior theme designing – design and prepare the interior infrastructure.
Staff Resources Allocation – plan for your staff resources as per your business requirements. For example; a food truck may have just you and maybe one or two other people depending on the size of your vehicle and on the other hand a full-service restaurant will need a handful of servers, a chef, and support staff.
Menu engineering and Kitchen Setup – design your food menu and prepare the kitchen set up as per the food requirements.
Point of Sale (POS) System
The use of a vintage cash register and handwriting order tickets on a dup pad are extinct now. Choose a strong POS system so that communication between the front desk and kitchen can go seamless.
Obtain the regulatory approval
In addition to the Food and Drug Administration’s (FDA’s) requirements, your food business will be subject to other federal, state, and local requirements and U.S. Department of Agriculture (USDA) approval.
Business Launch – with all organizational setup and obtaining the necessary approval your business is all set to be launched.
Food Business Ideas
Here I present some of the most profitable food business ideas which have a proven track record of success.
- Open a dine-in restaurant
- Coffee shop
- Open a Pizza Restaurant
- Fast food restaurants
- Food Truck Business
- Baby Food Business
- Start a Bakery Business
- Start a Grocery Store
- Frozen Yogurt Business
- Meal Subscription Business
- Food Supply Business
- Open an Organic Food Store
- Catering Rental Services
- Corporate Catering Services
- Events & Wedding Catering Services
- Food and Nutrition Consultancy Services
- Food Delivery Services
About Startup Business Bureau
Startup Business Bureau offers bespoke service experience, rich in Business Management & Investment Migration Consulting & Advisory, which simplifies complexity and is supported and sustained by long-term relationships by our valuable clients. We consistently provide informed consultations and first-class service tailored to meet each client’s unique requirements. Clarity and transparency remain our main objectives. We continuously strive for excellence, authenticity, and reliability to ensure the trust and loyalty of our respected clients. Company growth, longevity, and market leadership remain our constant ambitions.