"Do it now. Don’t wait; the time will never be 'just right'. Start where you stand and work with whatever tools you may have at your command and better tools will be found along the way." George Herbert
With so much interest for clean living, we are more conscious of what we are putting into our bodies. So many consumers are looking for tasty on-the-go snacks with a focus on no added sugar, low carb, low sugar, high protein and gluten free. Experiment with different ingredients and concepts, bearing in mind that allergens are an important factor that can cut down your potential market if you're not careful.
In the past 12 months vegan and vegetarian foods have made a big impact and are estimated to continue to rise. The snack bar market is estimated to grow to over a billion pounds by the year 2023.
The right time is now to start your snack business. Let's get started.
Research
Work out who your target customer is and create a detailed description. The more specific the description, the easier it is to create a product for them. How old are they? What gender will your product appeal to most? Do they have children, how many, what ages? What is their lifestyle? At each step you should be checking that your product and packaging appeals to your target audience.
Focus on one snack food category and do it well. If you are not focussed on a specific customer profile, it is only too easy to get carried away trying to please everyone.
What is your unique selling point (USP)? Who is your competition? Can you find a gap in the market? Be different. Design your product in a way that sets you apart from the others.
Plan
In the excitement of starting a company, it's too easy to overlook the fundamentals. Writing a business plan can feel tedious at the time, but lays the foundations for success. It helps you structure your thoughts and strategy, and also outlines the all-important finances.
More businesses fail for lack of cash flow than for lack of profit. Don't overestimate income and underestimate expenses. As a start-up you should expect and plan for cash shortages, keeping your business lean. Don't fall into the trap of being forced to suspend operations, even though you have customers.
Your business plan should outline how you intend to scale and what finance you need in place, and by when, to meet your goals. When you eventually go for funding, you should be able to demonstrate how you tracked against your plan. It keeps you real.
Listen to professional experts in the field. Never be scared to ask for advice, you will be amazed at how many people are willing to help. Listen and learn. Even better if you have a mentor. Someone you can talk your ideas through with.
Launch
Executing on your plan is where it gets difficult. There's so much to do and, in the beginning at least, you're typically on your own. Your key to success is finding partners that can help you.
There are many part-time social media experts that can help you build your brand. You will know someone who can write articles and many more who understand and know how to navigate the latest social trends.
Seeking the help and expert guidance of a food manufacturing company like Fusions Foods will help you concentrate on promoting your business, while others take care of the all-important operations, ensuring you deliver a great-tasting, quality product.
Next Steps
In future articles we will focus in more detail on each step of the above. From starting small with a great idea, to scaling your product to meet your customer's demands.
Above everything, believe in your vision and enjoy the journey of creating something from your amazing idea. We're here to help you if you need us and all the best with your exciting venture.