Market saturation and competition are important considerations when starting a business. This is one of the many benefits to starting a business in the food industry: there will always be incredible demand for food.
This is not the only reason to start a food business. You will bring smiles to the faces of your customers and make a living doing what you love.
You’ll have to answer the question “What type of food business should I start?”. We are here to help you. This article will look at eight different food business options to help you choose the one that best suits your needs, goals, and interests.
8 Food business ideas: What products and services can you sell?
1. Food truck
You don’t want to be tied down to one location and opening a food truck company is an option.
Food trucks are much easier to transport to other locations than traditional restaurants. This allows you to cater to different audiences and gain more business. You also have the freedom to create your own menu with food trucks. You can create a spicy lobster salad with a tapa spin. You can do it, there’s no stopping you.
Food trucks are growing faster than traditional restaurants, so it’s easy to see why. Food trucks require a fraction the overhead costs to open a restaurant. They are an affordable entry point into the hospitality and foodservice industry.
2. Gourmet popcorn shop
Gourmet popcorn is a delicious, nostalgic snack that entrepreneurs can use to create a steady income stream. Million Insights predicts that the global popcorn market will reach $6.24 Billion by 2028. Key players in the market offer gourmet flavors like caramel, strawberry, and cheesy.
Shopify is an ecommerce platform that allows you to open gourmet popcorn shops online. It’s okay to start with a few flavors, but it’s important to keep your product line interesting by constantly adding new flavors to your gourmet snack business.
Shopify stores like Poppy can help you get ideas for flavor combinations.
Poppy is a brand of handcrafted popcorn that continues to innovate its product range with new flavors. It has been featured in many magazines and websites including Real Simple, Food & Wine and Cooking with Paula Deen.
3. Cooking classes
You might consider teaching cooking classes at your home or workplace if you are skilled in vegetable cutting, making the best pad Thai, or baking. It can be very rewarding to teach others, and you have many options for how to approach it.
Online courses or classes could be offered. Online courses can be created using video lessons that allow students to learn at their own pace. Live weekend events may also be offered for online audiences. You can also organize your classes according to levels such as advanced, general, or cooking prep.
Google reports that 59% of people aged 25-34 use the internet to search for and practice new recipes. There is a huge market for budding chefs who are looking for content that you can share through your classes.
4. Coffee shop
Coffee isn’t just an essential part of our morning routines. A cup of coffee can also help us get through a challenging workout or warm us up on a colder day. Coffee is consumed in many forms worldwide, so it’s not surprising that the industry will be worth $155.64 billion by 2026.
This business idea is easy to start. Dropshippers are readily available to supply coffee. Your startup costs would be primarily the cost of setting up an online coffee shop. Branding is key to distinguishing your business from other coffee shops.
5. Meal Kits
Meal kits can be a type or subscription that offers pre-portioned ingredients as well as simple instructions to make chef-prepared meals at home. While they’ve grown in popularity over the years, there are still many niches and new brands that can be tapped. Companies like Thai Direct, which have a distinct focus on meal kit delivery, can be a great source of inspiration.
Thai Direct, a New York-based company that sells meal kits, aims to help consumers make authentic Thai dishes without having to source ingredients such as fish sauce, palm sugar, and coconut cream powder. Ask yourself: “Can I do it the same way for my native cuisine?”
You can sell meal kits on a subscription basis. Customers who sign up will receive a new week’s menu. You could also create a series of kits that you can sell a la carte.
6. Baked goods
Bakeries are one of the oldest food businesses. They get regular sales and have a steady stream of customers all year. There are many options for baked goods, which opens up many opportunities for your brand. There are many options for baking goods, including those that cater to certain dietary requirements or specialty items like muffins, cakes, and pretzels.
While most bakeries are located in brick-and-mortar locations, you can also sell baked goods online through Shopify. Do not be afraid to expand! Online bakeries have many perks that aren’t available to physical bakery shops, including lower costs for scaling and a larger customer base.
7. Jam and jelly
You might consider making jams or jellies that you can sell under a food label if you enjoy the idea of growing fresh produce. Home-grown foods are more nutritious than those made by commercial producers, which will give you an edge over other food producers. You can also make your own jarring machines at home, which is a great cost-saving option. Additionally, you will be able to add a personal touch that will resonate well with your audience.
Check out how other retailers market the same products for more ideas.
Beerenberg, an Australian retailer of jams and jellies, marmalades, curds, etc., is one example. Beerenberg’s website invites customers to explore its wide range of gourmet jams. It then explains what makes Beerenberg’s brand unique:
Statements like “Crafted right here on the farm” or “Made with love by our family for you” are great ways to make a lasting impression on consumers who want organic homemade jam. This makes them more likely to refer the brand to their friends and family.
8. Baby food
Parents around the globe are very selective about what their children eat. Parents today want healthy, non-GMO baby food that has positive effects on their physical and emotional well-being. This growing trend is worth pursuing. Make your own baby purées from homegrown vegetables and fruits (apple and sweet potatoes are very popular with most babies).
There is also potential for growth, since doctors will recommend different foods for different ages. Brands have many options to increase or update their product lines. There are many niches that you can target as a food entrepreneur, including formula milk for infants and solid food for toddlers.
You are the right person to start your new food business
You have it, plenty of food business ideas that will get your wheels turning.
Consider where you want your business to be located as you consider all of the options available. Your chances of winning over the market and achieving your business goals will depend on where and how you do business.
As always, don’t overthink it. It’s worth taking it one step at a time. You won’t know until you make the leap.