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kellyeng

Starting a business. Where to begin?

kellyeng
10 years ago

I know, I already have my own business - I should know this!

I've decided to start doing some serious research in opening a specialty food store. It's something I've thought about for a really long time but it's just been day dreaming.

I know all the basics about writing a business plan and general knowledge about business ownership but I'm kind of stumped about industry specifics. Can I take classes on grocernomics? Should I try networking? What about a how-to book?

Any ideas are welcome. I just need to get this ball rolling and see where it takes me.

Comments (11)

  • Vertise
    10 years ago

    Do you have a local farmer's market? We have one that has all sorts of vendors. You might start with some space there to develop your market.

  • Mimou-GW
    10 years ago

    Google specialty food trade journal or something similar to read about what is happening in the industry. I'm sure you will find webinars and lots of educational info.

  • PRO
    Diane Smith at Walter E. Smithe Furniture
    10 years ago

    Here is a list of wholesale gourmet food vendors from the Gifts and Decorative magazine. I find that the good reps will steer you to the best sellers and products for your area. Look for companies with low minimum orders/reorders too.

    hth!

    Here is a link that might be useful: Wholesale gourmet food vendors

  • kellyeng
    Original Author
    10 years ago

    Our local farmer's markets are abysmal. I live in an area that is the fastest growing in the nation. They are estimating that within the next 15 years, our population is going to triple. I'd say that this is a "strike while the iron is hot" situation.

    Thanks Nan for the webinar suggestion. I have found a head-spinning amount of info. Just the research and trying to figure out if this is even doable is going to be a massive undertaking!

  • golddust
    10 years ago

    I'll call my SIL with any specific questions you might have. She retired Safeway management and is a food rep for several companies now. She is smart and very direct. I can give you her number privately, if you want. She knows the large scale food industry, inside out. Networking is a good thing.

    It could be a great thing or it could fall flat. Move forward fully awake.

  • anele_gw
    10 years ago

    Oooh . . .what a neat idea!

    Are you going to offer classes as well? Could also host small parties, too. I am not saying you would do this from the onset, but it would be a way to get people in; you'd have this in mind when looking at spaces.

  • kellyeng
    Original Author
    10 years ago

    Golddust, thanks for the offer. Unfortunately, I haven't formulated any specific questions yet - I'm still working with generalities. I might eventually take you up on it tho.

    Oh Anele, there are so many possibilities! Cake decorating classes, book signings, cocktail parties . . . Eventually getting into the prepared food market and offering sack lunches and call ahead dinner pickup.

    My mom managed a bakery/cafe for years. She's retired now but I know she would be thrilled to help. Also my son is a fish monger at Central Market (grocery store like Whole Foods) and is being trained for management right now. He can eventually be the CEO of our chain of specialty food markets!

    Okay, back to reality. Business plan first.

  • User
    10 years ago

    If you've never worked in the grocery or food business that would seem a logical place to start, maybe with a part time job in a closely allied business. Not sure there are many bankers who would lend money for a startup business to someone with no experience in the field.

  • luckygal
    10 years ago

    I'm sure I know less about this type of business than anyone as I only shop in them but did have my own business and always learned a lot at trade shows. I attended 4 every year for the first few years I was in business and found the free seminars taught by industry professionals very valuable. You likely need to a business license to attend.

    "I googled specialty food trade shows" and found a couple which might provide some info.

    "West CoastâÂÂs largest specialty food & beverage trade showàwill be in San Francisco from January 19 - January 21, 2014." If I was starting this type of business I'd be there.

    "Natural Products Expo West is in March."

  • kellyeng
    Original Author
    10 years ago

    My startup funds won't be coming from a bank loan. There are even more important reasons to get experience so I've decided to find a mentor. My mom has a friend who owns a small organic grocery store and I'm going to speak with her first. I could easily do some interning on the weekends.

    I'll be so happy to get to the point where I can go to trade shows!

  • User
    10 years ago

    Even if you are loaning the money to yourself, inexperience = bad risk. The mentor sounds like a good place to start, though.

    Owning a business is like having another child---abeit more expensive, more demanding, and less forgiving. But, it can be rewarding like nothing else. I wish you good luck and a ton of fortitude :-)