Starting a small business in the middle of a pandemic has never been more challenging. Old businesses are losing sales, facing supplies issues, and laying off employees. News headlines are reporting deaths of retail food businesses across the country. But this new reality didn’t deter aspiring entrepreneurs from putting their ideas into action. The retail food industry remains competitive, which means surviving on a saturated market requires a unique approach.
Today, entrepreneurs focus on new food concepts with an existing market, no costly startup capital, and affordable food costs. Innovative business owners have become inspirations, especially those who could launch a successful venture with limited cash. While the food business never goes out of style, it’s essential to look for a truly rewarding enterprise that will bring more profitability. One example is the U.S. Cascade hops, which are a key component of beer to keep it fresh and flavorful.
If you’re an ambitious entrepreneur looking for a profitable business that only requires minimal capital, you came to the right source. In this article, we will explore food- business ideas that don’t require a huge initial investment but will bring more successful sales.
If you’re spending a great deal of your time at home during the pandemic, it’s time to get your hands busy by selling homemade snacks. A homemade food business is one of the easiest ventures to start. You can cater your business to work-from-home employees who can’t carve out time to cook for snacks at home or busy working parents who are too busy with work and child care to make snacks for their little ones.
Homemade food ideas are absolutely endless. You can start with traditional recipes, such as pretzels, muffins, oat bars, cinnamon bread, granola bars, chocolate chip cookies, and banana bread. You can also put your cooking skills to the test by making healthy snacks or even your own unique recipe!
Homemade snacks don’t require the most advanced cooking equipment. You’re in luck if you love baking and you have a ready set of mixing bowls and cooking utensils. Small capital is enough to cover the baking ingredients and packaging. You have different avenues to sell your products, whether by collaborating with another baking shop, opening your own online store, or selling them directly to customers.
A food truck business is basically a restaurant on wheels. These days, food trucks are becoming popular because of their flexibility to explore their market. You can park the truck and sell food anywhere as long as the local government permits.
The great thing about food trucks is the minimal overhead cost. Unlike on-site restaurants, you have to pay for the rent, utility bills, telephone bills, and other expenses required for a brick-and-mortar business. With food trucks, your biggest expense will go to the van and travel expenditures.
You’ll often find food trucks stationed in areas with a high volume of people, such as cities and business districts. They serve combo food or fast food you can order on the go. A great tip is to focus on urban employees looking for quick meals or street food, such as pizza, burgers, mac n cheese, hot dogs, and grilled cheese.
You’ll never go wrong with a beverage business. When it comes to beverages, we’re talking about coffee, tea, milk juice bar, bubble tea, milk tea, or even packaged drinking water. The choices are endless when starting a beverage business. For example, juice bars are trendy among urban dwellers and young people. This is why location plays a vital role in this food business.
Bubble tea is also one of the most profitable food businesses in busy cities. The cost of goods is relatively low, ranging from 10% to 15%. The recipe is relatively simple to make, but the key is to keep the flavor and quality consistent. Also, making bubble tea doesn’t need special skills, so you have no problem training staff.
Another profitable business is the coffee or tea shop. Although there are tons of popular cafes in the market, such as Starbucks, the secret lies in finding a location that maximizes the number of customers. Some examples are areas with nearby colleges or corporate districts.
Starting a small business is no easy task. Finding the most practical business idea that doesn’t require huge capital is a great start. We hope the suggestions above brought a lot of insights about establishing a food business during this pandemic. At the end of the day, a successful business doesn’t always need a big investment; all it takes is the right attitude, initiative, patience, and hard work.