In the 21st century, it’s not enough to just be a restauranter, you have to be a food entrepreneur. When you enter the food business, you need to have not just wonderful recipes and a great food product, but also a business acumen that rivals that of a hedge-fund manager.
But how do you build your business from a food startup to a corporate empire?
If you’ve found yourself asking this question, you’ve come to the right place. This article will walk you through a few key tips to build your food business.
1. Take Aim
Look at several different demographic grids to see where you’ll be getting your customers from. People are more invested than ever in the generation they belong to. You can take advantage of this, and get specific with the generation you’re targeting.
2. Do Research
What sort of products do your targeted demographics buy? What sort of marketing do they respond to? What sort of businesses make them come back for more?
These are the questions you need to ask yourself if you want to become a food entrepreneur. You have to be on top of the style, culture, and habits of your customers. You have to practically become the customers; if you can think like them you can get them to come to your place
3. Enlist Help
Quentin Tarantino once said that the work of a director isn’t to know how to do everything, it’s to hire the right people and explain your vision to them.
Getting the right people on your team is half the battle, and it’s no easy task. There’s nothing romantic or “hard-working” about suffering and doing everything yourself. Get the right specialists for the right jobs and tell them what you want.
This means everything from the cooks in your kitchen to the advertisers marketing you need to be top of the line. Why not consider getting a great food broker?
Ambassador foods have a great guide to answering the question what is a food broker? Understand all parts of the business before you make your move.
4. Listen, Listen, Listen
If you’re running a restaurant or foodtruck, and you’re serious about being an entrepreneur, you need to think about your drive. It’s all about the customers; the customer is always right.
If you receive feedback, whether positive or negative, you need to take it to heart. If one customer has a bizarre, specific complaint, it’s more profitable to fix it for them. They’ll tell all their friends how amazing you are, and surely come back to you.
That is how you build brand loyalty.
Learn to Be a Food Entrepreneur
There are no two ways about it — if you want to succeed in the food industry, you can’t just own a restaurant, you have to be a food entrepreneur. Figure out your customer base, do some research about them, enlist the right help, and always listen to the customers, and you’re far more likely to shine.
For more articles like this, check out our “restaurant” section.