Our taste buds are like unyielding children. No matter how much we indulge them, it’s just not enough. That’s what food, our eternal comforter, does to us. Good food rules our hearts, influences our lifestyle, dictates our mood, feeds our energy levels, and impacts our wellness. Food business has acquired a broad definition now. The food industry is not just about producing, processing, packaging, storing, transporting, selling, and consuming. Food technology is undergoing a sea-change, with health and sustainability emerging as key considerations. It explains why the food business is perceived as a booming industry despite the supply-chain snarls caused by the Covid-19 pandemic. More innovations, more alternatives Food startups worldwide are scaling up to provide alternatives specific to our nutrition needs. Not just that, we’ve got more choices on our plates, kudos to the latest innovations in food technology. The top food technology trends this year listed by Startus-Insights tells a compelling story. As the examples below indicate, many startups are standing at the intersection of technology and health. 1. US food startup Farmhand Organics develops fermented, plant-based, probiotic food using organic ingredients. 2. Dutch startup The Protein Brewery specializes in FERMOTEIN, an animal-free alternative protein source 3. Malaysian startup Ento develops cricket-based food products high on nutrition 4. South Korean startup Ghost Kitchen offers individual kitchen spaces for quick delivery businesses Many business entities are using 3D food printing to convert proteins from beet leaves, algae, or even insects into tasty products. Don’t be surprised if insect protein replaces chicken, pork, or beef in the future. You needn’t wade through an ocean of technical information, for many startups have been at the forefront of mind-boggling breakthroughs. It only shows the advancement made in the unique food business industry. And you don’t have to be a tech wizard to rake in a fortune in the food prep business. While having innovative ideas for the food business and handy capital are definitely an advantage, even a basic investment and passion to drive the enterprise should suffice to get started. You must’ve arched your brow in disbelief, but it’s indeed true that starting a unique food business doesn’t necessarily entail a humongous cost. No big investment anxiety Don’t you agree that a mobile food van service is the easiest food business to start since you’ve got the flexibility to go anywhere? High volumes usually give good margins here. Low-scale businesses such as coffee joints, Chinese food centers, ice-cream parlors, and food-delivery services all require moderate capital. If you’ve got the expertise to manufacture biscuits, spice-powder, jelly, pickle, bread, and chocolate – items consumed regularly – you will rock in this sphere. In fact, you could even start cooking classes that just need an investment of your teaching skills. Or why not be a popular food blogger to make readers envious of your gastronomic delights. Let’s broaden the unique food business ideas even more. Do you know honey processing is emerging as a top food business? And who doesn’t relish cupcakes, biscuits, and cookies that can’t be missed in corporate boardrooms too? Or how about protein bars, organic food, and fruit bars for fitness centers? If manufacturing these items is within your scope or if you’ve got family recipes, then you’re meant for the unique food market. How to start an online food business By now ‘how to start a food business shouldn’t be a puzzling question. But many of you are probably reading this piece to explore the immense potential of the online food business. Here are some startling stats then: According to data provided by Savemycent: · Food delivery market in the US is expected to generate $31.91m by the fall of this year · On an average, 34% of consumers will spend between $25 and $50 on a food order · 69.9m food consumers in the US will regularly use food-ordering platforms by 2024 · Platform-to-consumer orders are beating restaurant-to-consumer ones in revenue · According to restaurant delivery statistics, most people order food since they don’t have the desire to cook · 34% of consumers spend between $25 and $50 on a food order · The most common customers that order food online are between the ages of 25 to 34 years · By 2023, the food delivery market size is expected to increase by 11.51% How does it work and what are the dos and don’ts? Now, let’s understand how the online food business works. Customers will visit your website or app to browse your food catalog. They might order directly from you or through a food delivery platform. While it all sounds easy, there’s a caveat. Before you start an online food business, beware of the licensing requirements specific to your region, registration laws, ensure public safety and be practitioners of sustainability without having to forsake profits. From a business point of view, this is what you must be mindful of: 1. First, do adequate market research 2. Know what’s your product differentiator? What makes you unique? 3. Pricing a product will remain the foremost challenge. Understand your fixed costs 4. Identify your service areas 5. Invest in well-trained, reliable delivery staff if you don’t have tie-ups with delivery companies 6. Fine details matter such as packing and establishing your brand 7. Have a strong social media presence. Don’t undermine WhatsApp marketing too It’s generally recommended that new entrants must first work with professionals in this field to understand the ropes of the trade before teeing off on their own. Food eCommerce is the future, perhaps the most profitable food business now, and is poised to beat the restaurant industry. Finally, it all comes down to having a website to create product awareness. And we’ve got the web expertise to make a difference to your brand. Join hands with our team of experienced web professionals to establish your unique food business. Or if you’re looking for an app our team is ready to assist you in that endeavor as well. Don’t hesitate to call us right away at +1.408.621.8481 or email us at team@sdi.la.