Taking Your Food Business To The Next Level: A Mini-Guide
Everyone likes food and beverages. This is one of those fields where the market is non-optional, that is, everyone needs to buy and consume these products by virtue of being alive. Many suggest that barbers will never be out of work, but some lose their hair. No one loses their need to eat and drink, and most of us want to enjoy a wider variety than the most essential basics.
As such, a company that really cements itself can be timeless. Does anyone really expect a Coca-Cola to be gone within 30 years? Most likely not. For this reason, learning where you fit in the market and really exploiting thiscan be a fantastic use of your time.
Taking your food business to the next level does require solid planning, even if you have opportunities such as interviews with supermarkets or hospitality businesses in the near future. Let’s discuss some methods to actualise those plans:
Supply Planning
The logistics is usually the first hurdle to clear, as relying on smaller batches just won't cut if you do have the benefit of seeing your order volume starts to climb significantly. A review of the entire supply chain is generally a good idea, ensuring that ingredients can be sourced reliably and at a cost that doesn't eat into the margins too heavily. Research into the supply chain planning process for food and beverage to achieve this.
Relationships with suppliers also need to be managed and contracts signed, because running out of stock right when a major retailer places an order is a situation that could impeded how well you’re regarded and how often you’re used..
Reformatting Product For Different Venues
Your great product which works great on a boutique shelf might not always translate perfectly to a busy supermarket aisle or a restaurant kitchen, so looking at how the product is packaged, used and delivered matters.
In the same way, many restaurants use syrup for beverages instead of stocking the product itself. For instance, bulk options are usually preferred by hospitality clients who want to minimize waste, meaning that larger, less decorative containers are often the better route to take for that market segment. In retail environments, you may need to be even more flashy and open and use marketing wrapping with care.
Your Chance To Rebrand
Scaling up can help you with a pause point to look at the visual identity of the business, as the logo on a napkin years ago might not hold up against any of the global competitors, and now is the one time you can rebrand with care and caution and not have a massive impact on what you’re doing. Now, if you’ve agreed contracts with suppliers then it’s too late, so consider your point appropriately.
A refresh is usually welcomed by the market in these circumstances, as it shows that the company is maturing and ready for a bigger stage, provided the core recognition isn't lost in the process. If you work with a strong visual marketing brand you can develop an excellent outcome.
With this advice, we hope you can take your food business to the next level.