Happy #BusinessTipTuesday! Here at the University of Scranton Small Business Development Center (SBDC) we are always thinking about food, and what better week to celebrate than one that includes National Cheese Day (June 4th) and National Chocolate Ice Cream Day (June 7th)! While they may not typically be eaten together or a combo most people crave, both cheese and chocolate ice cream are delicious and a staple in most American’s diet. In fact, according to Bloomberg, on average American individuals are consuming up to 35 pounds of cheese each year and according to International Dairy Foods Association a typical American ingests 23 pounds of ice cream per year. As well, the Bureau of Labor and Statistics reports that in 2015 the average household spends $3,008 per year on dining out. Wow! Are these numbers sparking your interest in starting a food business? If so, here are just a few steps in how to do so.
- Do your Research:This is the number one rule when it comes to starting any business, as research is vital in having all the tools to open a business. Understanding the industry, current trends, demographics, and the market itself will help your food business to be successful. Forbes reports that, on average 17% of food business fail in the first year. Although not a high statistic, avoid being part of it and do your research!
- Follow the Rules:This goes hand and hand with doing your research, as knowing what rules and regulations to follow is very important. There are federal, state, and local requirements that must be adhered to when it comes to a food business. Stay up to date and knowledgeable in this topic, as well as keep licenses and permits current. Make sure not only you as the owner is informed, but also employees.
- Test your Products: When it comes to a food business everything revolves around the most essential item… the food! Although service, location, and experience play a major role, customers come for the food and if they do not like it they most likely will not be returning. So test out recipes to make sure you are satisfied with the final product and from there implement quality controls to ensure each time you deliver a consistent product. As well, let friends and family try it out recipes and make suggestions so you can see what people like and are looking for in a product.
The University of Scranton SBDC has two great programs in the next two weeks that are of interest to people in the food industry. On June 15th, 2018 we will host “Building Your Food Business” seminar that will focus on …. As well, On June 27th, 2018 we will be hosting a ServSafe seminar. ServSafe is one of the most highly regarded certificates in the food industry and most states require this certification. In Pennsylvania, it is required that at least one of the business’s supervisory employee holds a nationally recognized food safety manager certification. It is not too late to sign up for these upcoming events, visit www.scrantonsbdc.comfor more information and to sign up!
The University of Scranton
Small Business Development Center
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Artwork adapted from vecteezy.com