Who should consider starting a food business?
If you enjoy cooking and being creative, if you like the
excitement of meeting new people and new challenges, then why not use it to earn
money? By becoming a personal chef or starting your own home-based catering
business, you can turn your passion for food, creativity, and people into a
financially rewarding and fun experience.
If running your own home-based food business sounds
appealing to you, here are some things to consider before you get started.
Start Up Costs, Business Equipment and Financing
Determine what you need
Depending on the nature and scope of your business, you are likely going to
need some commercial kitchen equipment, computer equipment, transportation and
other business necessities all of which can be financed though equipment
Figure your start-up costs
Consider your equipment costs and cost of operations and marketing / promotion
when determining your start up costs. Determine whether a loan or other business
financing is necessary and choose the best option for both your short term and
long term objectives. Consider the advantages
of a business equipment loan versus the benefits
on an equipment lease when choosing the right financing for your commercial
Other Important Business Considerations
What will you offer and how?
The first step towards a
building a successful business is creating some kind of business
plan. How detailed this plan will be really depends on the nature of your
business. Nevertheless, there are some fundamental points that should be hashed
out. You should determine what your projected client base will be and what
products and services you will be offering. You should also figure out who will
be your competition, and how you will promote your business. Other things to
consider are the details of hiring of employees, purchasing supplies, and
Familiarize yourself with the necessary laws.
Check out your state's requirements
for running a catering or other cooking-related business in your home. Make sure
you are also in compliance with any licensing and sanitation
laws. In some cases you may be required to separate the food operation area from
your home kitchen, including separate sinks for food, utensil washing and
cleaning. Also pay attention to any requirements for your water and plumbing
With a little consideration and planning you can turn your
passion for cooking into a viable business.