So you're starting up a shop ...

We get calls and emails every day from people who are planning a new food business venture, and we are always happy to share our experience and product ideas with them.  Starting a new business isn't always easy, and to be successful you need to be aware of some of the do's and don'ts so you can include these in your planning.  Whilst you may love what you do, ultimately you also need to make money so you can pay the bills.

Do:

1.  Do your research on the market.  What is selling well in your area?  Is there a gap in the market and if so, is there a reason no one else is selling this type of product?  What can you offer that will get people excited, that hopefully they can't get anywhere else?

2.  Do your research on the business site. Who are your likely customers (age, culture, spending power are all factors)? Is there easy walking access and lots of foot traffic, or other attractions close by that will bring people in?  Does the site feel welcoming and will it work for the amount of people you hope to cater for?

3.  Do your research on the costings.  This will make or break your business so do your budgets carefully and include everything you are likely to spend to bring your product to the market.  How can you value add to products to create a 'good deal' for customers?

4.  Do your research on the products. This is the fun part!  Shop around for ideas and pricing.  Look at what your competitors are doing, check their menus online and sample their products.  Talk to suppliers as they see what is happening in the market and can give you some good tips and product advice (for example, see our blog for information about choosing an ice cream machine).  Pay for some quality samples and trial them with your family and friends.

Don't:

1.  Don't just buy the cheapest products on offer.  One bad customer experience will lose you sales, but good customer experiences give you free word-of-mouth or social media advertising, and repeat business.  For example a good quality soft serve like our Goldenfarm Luxury mix is smooth and will always taste fantastic.  It can be used to create other products (e.g. thick shakes, slushies), whereas cheaper versions will have questionable flavour, come out icy, and be generally disappointing.

2.  Don't rely on your own tastes. What you love may not be what your customers love.  We find that Asian style eateries order the Matcha and Milk flavoured soft serve mixes , on the other hand Sports Clubs or burger bars' customers may prefer the Goldenfarm Luxury Vanilla, Salted Caramel and frozen yoghurt varieties. 

3.  Don't be afraid to be flexible with your menu.  Experiment a little to find out what works for your customers.  Try a weekly special to test products out, offer free samples, or do some great family celebration deals to introduce new flavours and ideas to the market.

4.   Don't just cater to a vocal minority.  Just because it seems something is in demand doesn't mean it actually has a large customer following.  Sometimes this is the case with matcha or vegan soft serve products, depending on the location - although some customers may quite rightly love these, by using the only barrel of your ice cream machine for a different tasting product you may be missing out on sales of other things.  Consider offering what you will sell the most of, and cater for special requirements in a more nuanced way.  It all depends on your customer base and location as to what those products will be.

In short, take your time to undertake quality product and market research, and understand your both your customers and your budget constraints.  And give us a call!, we are always happy to help you on your journey.

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