How to Convert Your Food Business From Hobby to Cash
HOW TO CONVERT YOUR FOOD BUSINESS FROM HOBBY TO CASH
Article by Marlo Wright
Photo Credit: Ella Suihko
Magazine: Issue #12
If you’re like most people, then you love amazing food! If you’re like some people then you love cooking good food. If you’re like a small amount of people, you have the unique skill and flair to cook really well -- enough for your friends and family to say things like, “Girl, you should sell these/this!” Perhaps you should be selling your famous grandmother’s cake recipe. You might be able to make a little extra money and even turn it into something more, but is it really worth it?
Here are a few things to consider before you take the Food Business plunge:
#1 Costs
Is it going to be profitable! How do you allocate for all the costs that go into making/baking/cooking/cleaning, etc.?
#2 Is it unique?
People are searching for something different and delicious!
#3 Is it something people want?
Your friends and family are one thing - bias. Test it out gently with total strangers!
#4 What’s the story?
Facts tell, stories sell! People connect with products because of the amazing stories behind them.
#5 Labor Intensive
Food prep takes a lot of time on your feet and is “back breaking” work. Consider the change of pace from what you’re currently doing.
#6 Cottage Laws
Is it best to use these laws as a first step?
Amazing food-preneuer opportunities could add to your household, or allow you to leave your full-time job. There’s always room for something new! Local Craft Food Products are in demand as the shift to eating local is encouraged from every platform. It encourages stimulation in local economy and introduces community building. If you have a Craft Food Product that you’d like to develop or scale up, there’s no better time than now!
It might be your time to get in the kitchen and get cooking!