People don’t have to buy all the latest gadgets. They don’t have to go shopping every single day. But, what they absolutely must do is eat, right? In essence, the food industry will never turn sour. The real estate business is affected by great economic upheavals, banks by market crashes, etc. Yet, the food business is here to stay.
If you’re still not convinced, make sure you check these five neat reasons why you should definitely start a food business in 2019.
1. The Vegan Revolution
Yet, what does this all have to do with business, you might ask?
Well, the vegan diet brings with it a lucrative niche market just waiting to be exploited. There are a number of vegan fast food stalls, restaurants, and food trucks already on the streets. Here you can get anything from a simple veggie-burger to plant-based meals and tofu.
Now, a good thing about the vegan diet (strictly from an entrepreneurial perspective) is that it makes for fairly good customers. Vegans are extremely passionate about what they do and do not eat — and they are not afraid to show it — making them ideal brand advocates. Consequently, your business will market itself, almost; a perfect opportunity for any budding entrepreneur.
2. Healthy Fast Food Alternatives
Healthy fast food almost seems like an oxymoron of sorts but, trust me, it’s not. It’s the exact same phenomenon as with the vegan revolution — people making extreme lifestyle changes. Only this time, it’s not so much about eating plant-based foods as it is about eating healthy and nutritious meals. This includes whole-grain foods, fresh fruit, smoothies, gluten-free food, lean meat, vitamin rich-foods, etc. As a result, we can go on to say that the practitioners of this food min-maxing mentality are extremely health-savvy.
Again, same as before, this presents a neat opportunity for entrepreneurs with vision; it’s basically an untapped well full of hungry consumers. Be the first one to drink from its refreshing waters!
3. More Efficient Supply Chains
Thanks to the advent of technology, starting a food business has never been simpler. In the past, running an efficient supply chain was an organizational and logistical nightmare. Luckily, today, with the help of retail buying groups and vendor management software, sorting inventory and getting supplies is like a walk in the park. This allows first-time entrepreneurs to focus primarily on their own business, instead of wasting time chasing suppliers and managing their inventories, indefinitely.
In addition, as a member of a reputable buying and promotional group, you would also have the benefit of using their strong connections with key suppliers and manufacturers to fuel your business. Not to mention that you get someone who knows the very ins and outs of the food industry to support and guide you along your entrepreneurial journey.
4. Food Trucks
There’s yet another culinary trend looming on the horizon — food trucks. These small, mobile kitchens make for excellent outdoor restaurants. What’s more, they don’t require as much capital funding as traditional brick-and-mortars do, making them ideal investments for first-time entrepreneurs.
Additionally, you don’t run the risk of losing your business if your competition opens shop next door; simply move your truck and conquer new territory. Another good thing is that you can not only change your location for each season but also the menu; their kitchens are sophisticated enough to cover a wide array of meals. Better yet, you can open a smoothie bar during the summer and make a huge buck off of that alone. After all, healthy foods are trending at the moment now, right?
5. Home-Cooked Meals Are Back on the Menu
Healthy and vegan diets are not the only ones trending at the moment. There’s also a growing demand for more authentic, traditional dishes; especially so with the new Millennial population. Just take a look at this Mexican grandmother-turned YouTuber that started her own channel to promote homemade recipes; in a month she hit over a million subscribers and the numbers just keep on growing! If that’s not a tell-tale sign of a profitable niche, then I don’t know what is!
All in all, as each industry has its own flavors, so does the food business. You need to find yourself a profitable niche with the right target audience to attract new customers and build a new food empire. Bon appétit.