Entrepreneurs looking to make an impactful mark in the food and beverage industry will find many lucrative avenues available to them. Ranging from catering services to online ordering platforms, this blog post outlines 10 such avenues. Whether seasoned restaurant veterans or anyone new to F&B businesses – this guide should serve as a valuable resource!
Photo by Robert Anasch on Unsplash
Food Delivery Services
Uber Eats, Grubhub, and DoorDash make food delivery services an easier way for entrepreneurs to promote their product or service. While most restaurants used to rely on customers coming directly into them to buy food, these third-party delivery services open up an entirely new potential revenue source – by partnering with one or more leading delivery services entrepreneurs can expand their reach to reach hungry customers wherever they may be located.
Catering & Events
Catering and events are an often neglected option within the F&B industry, yet catering businesses have the capacity to operate 24/7 if required. By hosting exclusive culinary events, businesses can build their brand and reach more potential customers.
Food Trucks
Food trucks provide entrepreneurs with an effective means of expanding their reach without incurring the costs associated with opening and operating a restaurant. By investing in an exciting kitchen-on-wheels, entrepreneurs can create an unforgettable dining experience that travels throughout their community, reaching people wherever they may be.
Online Ordering Platforms (OOPs)
Entrepreneurs looking for another avenue of success should create an online ordering platform. Thanks to technology, it has never been simpler for customers to place orders from the convenience of their phones and computers – an online ordering system also allows restaurants to extend their reach beyond their physical locations and maximize sales potential.
Grocery Delivery Services
Grocery delivery services provide entrepreneurs with an invaluable opportunity in the food and beverage industry. Thanks to services like Blue Apron and Hello Fresh, it is now simpler than ever for them to provide freshly prepared meals directly to customers’ doorsteps – capitalizing on this booming market can allow your presence both locally and nationally to expand!
Meal Prep Services
Entrepreneurs hoping to make an impression in the food-and-beverage (F&B) industry should consider offering meal prep services as an innovative way of reaching consumers with freshly made meals without all of the effort or inconvenience involved with cooking them themselves. By providing pre-cooked and packaged ingredients that customers can purchase online, they can have freshly-prepared meals without all the extra hassle or waste involved with doing it themselves.
Bakery and Desserts
Bakery and desserts provide entrepreneurs an ideal entry into the food and beverage industry. As more popular desserts such as cupcakes, pastries, donuts and more become readily accessible through mass production processes, it has never been simpler for aspiring entrepreneurs to gain entry to this lucrative sector of F&B.
Specialty Foods and Beverages
Specialty foods and beverages industries are expanding quickly, from craft beer to locally produced ingredients. As consumers become more health-conscious about their diets, more are seeking healthier alternatives than processed food – providing entrepreneurs with an opportunity to sell organic ingredients, healthy snacks and other niche products successfully.
Food Tours & Classes
Offering food tours and classes can be an excellent way for entrepreneurs to make an impression in the F&B industry. Not only do these experiences provide customers with unique insights into local cuisine, they can often generate higher ticket prices than traditional meals – an excellent opportunity for any educator looking to break into the education side of F&B industry!
Bar & Brewery
Bar and brewery businesses are becoming more prevalent within the F&B industry. Offering customers an abundance of beers, ales, wines, and spirits is more convenient than ever; by investing in quality brewing equipment and knowledgeable personnel entrepreneurs can be successful in this ever-expanding niche market.
Working Out the Details
No matter the type of F&B venture you pursue, it’s vitally important to pay close attention to every detail from day one. From creating a business plan and marketing your concept to comply with regulations and license requirements associated with an F&B business – taking care of these minor tasks from day one can save both time and money later on!
Once You Have the Basics Under Control
Now is the time to put your F&B venture on paper – from developing a business plan and marketing materials, to making an investor or lender understand what you offer – writing it all down will help ensure its success and reduce confusion over time.
Establish Funding
Finding funding can be one of the biggest obstacles to starting an F&B business. From loan applications and investor pitches, to building customer interest and creating initial revenue. Reaching out directly can also help establish interest and generate early returns.
Market Your Venture
Once your F&B venture is up and running, the time has come to start marketing it! From creating a website or blog to using social media platforms like Twitter and Facebook, there are numerous ways that you can spread awareness of your business. Furthermore, engaging local publications and influencers may help increase customer reach further.
Systems That Work
Establishing systems to help ensure the smooth running of your F&B venture is of utmost importance. From creating an inventory tracking system and payment workflow process for customers to automating specific tasks that could save both time and money in the long run, having such systems in place can make daily operations much simpler for your F&B venture.
Employees
Hiring the appropriate staff can make or break your F&B business. When recruiting potential employees, it’s crucial that you look for those with strong work ethics and passion for the industry. Furthermore, having an efficient training program in place makes onboarding new staff much simpler; additionally you should devise a way of keeping track of employee working hours and managing them if needed.
Photo by Brooke Cagle on Unsplash
Entrepreneurs looking to get into the food and beverage industry can use several strategies. There’s something out there to fit anyone, whether that means opening a restaurant or creating an online grocery delivery service – now is an ideal time to begin realizing your ideas and turn them into reality!
Money-Smart Millennials 
Leave a Reply