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How hard is it to start your own business in the culinary industry?
I want to start my own catering business and eventually my own bakery.
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Diamond Rochelle’s Answer
Let's be honest here, starting a business is no easy task, especially if you don't already have a customer base. But remember, every person you meet could potentially become a loyal customer. Small businesses, like bakeries and restaurants, often thrive on word-of-mouth recommendations, particularly when they're just starting out. So, don't be shy about promoting yourself and your business.
Opening a business in the food industry is a journey that requires courage and resilience. There are many potential challenges and unexpected situations that could arise. You might face a slow month with few customers, or experience equipment breakdowns. These are realities you need to be ready for.
The first year of running a business can be intimidating, and this is especially true in the food service industry. If you've never worked in a restaurant or bakery before, I'd advise you to gain some experience first. It's not impossible to succeed without it, but having that background could make the journey smoother and less daunting.
Remember, every challenge is an opportunity for growth. So, stay positive, be brave, and keep pushing forward. Your determination and hard work will pay off in the end.
Opening a business in the food industry is a journey that requires courage and resilience. There are many potential challenges and unexpected situations that could arise. You might face a slow month with few customers, or experience equipment breakdowns. These are realities you need to be ready for.
The first year of running a business can be intimidating, and this is especially true in the food service industry. If you've never worked in a restaurant or bakery before, I'd advise you to gain some experience first. It's not impossible to succeed without it, but having that background could make the journey smoother and less daunting.
Remember, every challenge is an opportunity for growth. So, stay positive, be brave, and keep pushing forward. Your determination and hard work will pay off in the end.
Updated
Marshall’s Answer
Dakota-
Starting any business will have some common things. There is a lot of things to learn, but good news is you can learn them.
If you are interested in starting a business, I would take some classes/ courses on "Starting a business" and read some books/ articles related to things in your local state/ country of choice for operation.
Every state/ city will also have specific rules you will need to be aware of, the business councils will have information (and often classes/ meetings) where you can go and ask questions.
Every business is made up of some core components:
Financial/Legal
Marketing
Production/ OPS
Sales/Support
Those areas will expand depending on the specific needs (i.e. tools to make things, delivery trucks, development teams etc.). In your case you will need equipment, space and possibly staff not to mention materials (ingredients) which will need to be sourced regularly.
You will want to know what your product is, where it fits in the ecosystem of where you will be selling it, who your competitors are and what they do that you cant or dont, you will want to know your customer base (is this something they will buy). What makes you different from your competitors/ businesses in the area (can people get the same thing across the street?)
You will also need to understand how money works, paying taxes, investment strategies, managing cash, dept and other things like purchasing. As well as hiring, staff management and product sourcing and health standards.
You will also need to know who you need to hire/ what skills are needed to accomplish your goals. You need to understand what parts materials you need to deliver your product and where to source them.
You will want to have legal support to deal with issues that arise (such as clients that don't want to may, contract negotiations, other legal concerns, laws and requirements met/ reviewed etc).
The good news is you don't have to do this alone. Getting partners and or investors will help take some of the weight off your shoulders. As will hiring staff that specialize in these things (like marketing, finance or operations/OPS).
As a freelancer, I have had to make myself the business, which means I had to register as an Scorp/LLC and file all the appropriate paperwork with state and federal institutions. I had to market myself, manage my equipment and employees. I had to track all the money, payments, receipts, etc by keeping books. I had a law firm that I worked with and made sure to be aware of changes in things around me that affected my industry and therefore my business.
The best thing you can do is go to your local library and ask them about book "starting a business". There will also be some resources online, google "starting a business in [your state]". Your Town hall will have information on the government offices to contact to get more detailed information and can also maybe point you to some informative classes or seminars. There are services out there that you can pay to help set things up too if you are getting to that point. There will be no shortage of people you can hire to do the work for you, but if you want to save some money and gain the experiences of doing it yourself, reading will be the first step. It is also a good idea to at least educate yourself on how things work even if you dont do it yourself (to know if it's being done correctly). As the owner of the business, the buck stops with you, as they say, so you will be responsible to make sure the business is running correctly.
You might also attend a small business summit (many of these happen online but may also happen in your area). You can meet others that have done what you want to do, ask questions, find out how they dealt with challenges or possibly partner with them.
Starting any business will have some common things. There is a lot of things to learn, but good news is you can learn them.
If you are interested in starting a business, I would take some classes/ courses on "Starting a business" and read some books/ articles related to things in your local state/ country of choice for operation.
Every state/ city will also have specific rules you will need to be aware of, the business councils will have information (and often classes/ meetings) where you can go and ask questions.
Every business is made up of some core components:
Financial/Legal
Marketing
Production/ OPS
Sales/Support
Those areas will expand depending on the specific needs (i.e. tools to make things, delivery trucks, development teams etc.). In your case you will need equipment, space and possibly staff not to mention materials (ingredients) which will need to be sourced regularly.
You will want to know what your product is, where it fits in the ecosystem of where you will be selling it, who your competitors are and what they do that you cant or dont, you will want to know your customer base (is this something they will buy). What makes you different from your competitors/ businesses in the area (can people get the same thing across the street?)
You will also need to understand how money works, paying taxes, investment strategies, managing cash, dept and other things like purchasing. As well as hiring, staff management and product sourcing and health standards.
You will also need to know who you need to hire/ what skills are needed to accomplish your goals. You need to understand what parts materials you need to deliver your product and where to source them.
You will want to have legal support to deal with issues that arise (such as clients that don't want to may, contract negotiations, other legal concerns, laws and requirements met/ reviewed etc).
The good news is you don't have to do this alone. Getting partners and or investors will help take some of the weight off your shoulders. As will hiring staff that specialize in these things (like marketing, finance or operations/OPS).
As a freelancer, I have had to make myself the business, which means I had to register as an Scorp/LLC and file all the appropriate paperwork with state and federal institutions. I had to market myself, manage my equipment and employees. I had to track all the money, payments, receipts, etc by keeping books. I had a law firm that I worked with and made sure to be aware of changes in things around me that affected my industry and therefore my business.
The best thing you can do is go to your local library and ask them about book "starting a business". There will also be some resources online, google "starting a business in [your state]". Your Town hall will have information on the government offices to contact to get more detailed information and can also maybe point you to some informative classes or seminars. There are services out there that you can pay to help set things up too if you are getting to that point. There will be no shortage of people you can hire to do the work for you, but if you want to save some money and gain the experiences of doing it yourself, reading will be the first step. It is also a good idea to at least educate yourself on how things work even if you dont do it yourself (to know if it's being done correctly). As the owner of the business, the buck stops with you, as they say, so you will be responsible to make sure the business is running correctly.
You might also attend a small business summit (many of these happen online but may also happen in your area). You can meet others that have done what you want to do, ask questions, find out how they dealt with challenges or possibly partner with them.