Firstly, what is a foodpreneur? In a nutshell, it’s an entrepreneurial foodie. Everyone loves food; it might be a memory of a childhood flavour created by a favourite grandma, pottering in a home kitchen or an obsessional passion which has led to onscreen stardom.
As the founder and managing director of BrandPortunity, I’ve had decades of experience across various food sectors and had the opportunity to work with inspiring international and local brands across many markets, business owners and some of the finest research and development chefs from around the world. I’d love to take you on a gastronomic journey and share some industry insights on how to set up a successful business. The most essential elements of starting any business are passion, inspiration, absolute determination, and taking the opportunity of talking to foodie professionals who can guide you in the right direction.
The first part of building a business plan is research; this is where the fun starts. Identify who your competitors are and the area in which your business will thrive. Then go and try them out! Document all of your findings – the good, the bad and the downright ugly. This will aid you in creating a chronological plan to start and grow your business.
Competition is endless and everchanging. Consider the location of the restaurant carefully and remember that you will not be ‘recognised’ at the beginning. Focus on the quality of the food served and how it makes your customer ‘feel’. The company profile will gain momentum based on exquisite service and extraordinary food.
An expert mentor is a useful sounding board who can help you guide and evolve your ideas into a state of profit. Brainstorm concepts, collaborate with other parties and food experts and solidify your brand. All success relies on the value that you offer to your customers with considered thought and care.
These are a few essential pointers that offer motivation and courage to start you on this exciting journey. Remember that BrandPortunity is here to guide you through each step.